You are viewing a single thread.
View all comments View context
6 points
*

And between every dollar being backed by a bushel of potatoes or a dentist appointment and hyperinflation, lies a vast gap of other possibilities. For example dollars backed by future productivity that people believe will materialise which doesn’t exist today. If you factor in debt and look at fiat as a form of debt it should become more obvious why you can create money today that enables people to do work which they otherwise wouldn’t, without causing inflation, let alone hyperinflation, under the assumption of available real resources (labor, tools, metal, land, knowledge, etc).

permalink
report
parent
reply
-1 points

But you can’t just assume those real resources exist, especially if you have just triggered a brain drain and disrupted your economy.

permalink
report
parent
reply

World News

!worldnews@lemmy.ml

Create post

News from around the world!

Rules:

  • Please only post links to actual news sources, no tabloid sites, etc

  • No NSFW content

  • No hate speech, bigotry, propaganda, etc

Community stats

  • 5.2K

    Monthly active users

  • 3.4K

    Posts

  • 15K

    Comments