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Old 03-09-2018, 12:40 PM
 
65 posts, read 37,037 times
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I don't know how this all works so was wondering. Are the people that own the machine or thing that creates American money among the richest people on earth?. Are they also by definition very powerful.If you can create unlimited money can you "buy" the whole world so to speak. Does every country create their own money, can every country can create unlimited money. How does it all work
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Old 03-09-2018, 12:45 PM
 
Location: Aurora Denveralis
2,961 posts, read 1,012,279 times
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"Money" is not as simple as having one group or entity "create" it. You are asking a nearly religious question with no particularly good answer unless someone has the patience to start with Econ 101, day 1.

I suggest you do that reading on your own - a summary of basic economics from personal through national and macro - and come on back. You'll still have questions, but at least they will have understandable answers.
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Old 03-09-2018, 12:49 PM
 
Location: Nescopeck, Penna.
11,355 posts, read 6,783,711 times
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Entrepreneurs don't "create money" -- they create wealth; money is simply an embodiment (physical or perceived) of that wealth. And the wealth arises when an entrepreneur (correctly) anticipate somebody's wants (the larger or the more of them, the better for all of us).

Bill Gates and Jeff Bezos are both examples of this; but the same holds for anyone who starts a successful small business in a smaller community.

The reward for all of them is to be vilified by the multitude of misfits and losers, and the politicians who pander to their resentments.
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Old 03-09-2018, 02:07 PM
 
Location: Aurora Denveralis
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Quote:
Originally Posted by 2nd trick op View Post
Entrepreneurs don't "create money" -- they create wealth; money is simply an embodiment (physical or perceived) of that wealth.
Most newcomers to economics have no idea that wealth, money and currency are not the same thing.

Resentment of the rich because they are rich comes from this misunderstanding.

Resentment of the rich when they are self-serving a$$holes comes from real understanding.
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Old 03-09-2018, 02:38 PM
 
608 posts, read 280,904 times
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In modern banking systems debt is equivalent to "money". Creating debt and the machinations that accompany its journey into money is certainly the source of income for many of the wealthiest among us. To hear their side of it, they are "doing God's work around the world every day", some may take a dimmer view...

Last edited by TimAZ; 03-09-2018 at 03:41 PM.. Reason: autospell hell
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Old 03-09-2018, 02:44 PM
 
Location: Aurora Denveralis
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Quote:
Originally Posted by TimAZ View Post
In modern banking systems debt is equivalent to "money".
Don't confuse the poor guy. Most people have trouble figuring out accounting credits and debits, let alone concepts in this stratosphere.
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Old 03-09-2018, 03:07 PM
 
2,240 posts, read 1,385,700 times
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Josiah Stamp quote: Banking was conceived in iniquity and born in sin... Bankers...
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Old 03-09-2018, 03:10 PM
 
Location: Nescopeck, Penna.
11,355 posts, read 6,783,711 times
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Originally Posted by Quietude View Post
Don't confuse the poor guy. Most people have trouble figuring out accounting credits and debits, let alone concepts in this stratosphere.
You can't "create debt" by increasing the supply of capital alone; some shallow-thinker has to convince him/herself to live beyond their means. Ever check out msn.com's front page? every tenth frame seems to show somebody with a big smile and a brand-new chargecard.

Quote:
Originally Posted by Quietude View Post

Resentment of the rich when they are self-serving a$$holes comes from real understanding.
Like Warren Buffet, who still lives in the same house he occupied 50 ears ago? Not everybody who has liquidity automatically has expensive tastes, or a compulsion to be "trendy".
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Old 03-09-2018, 03:30 PM
 
Location: Aurora Denveralis
2,961 posts, read 1,012,279 times
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Quote:
Originally Posted by 2nd trick op View Post
You can't "create debt" by increasing the supply of capital alone...
You're replying to the wrong poster, here. Not my contribution nor concept.

Quote:
Like Warren Buffet, who still lives in the same house he occupied 50 ears ago? Not everybody who has liquidity automatically has expensive tastes, or a compulsion to be "trendy".
RFC, especially the subtle use of conditional phrasing.
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Old 03-09-2018, 03:48 PM
 
608 posts, read 280,904 times
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Quote:
Originally Posted by 2nd trick op View Post
Like Warren Buffet, who still lives in the same house he occupied 50 ears ago? Not everybody who has liquidity automatically has expensive tastes, or a compulsion to be "trendy".
And for some it has always been about power and control. Buffet loves the gosh-howdy PR image that belies his sociopathic tendencies.
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