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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.
The problem is that the existence of the wealthy predicates that there BE "a multitude of . . . losers", who thereby are equated by you with "misfits", and vilified accordingly. The core value of our current socio-economic paradigm. What a shame that politicians are elected by the majority, instead of by the wealthy, who deserve to appoint them.
Maybe the OP is talking about the central bankers. They can create as much money as they want, and give it to whoever they want.
After 2008 the Fed decided to buy toxic mortgage assets from banks, for example. This was supposedly to save the economy. But it must have done wonders for all those banks who had stupidly bought worthless derivatives.
People see this as the Fed managing the economy and making sure we're all safe and happy. We are stupid to trust them.
The Fed has to print $500 billion a year just to fund our trade deficit. Any less and the money would drain out of the US economy, leading to deflation. Create too much money and we end up with inflation. In theory, the amount of money in circulation should increase in lock step with growth in the economy. In practice, most of the new money goes into fixed asset acquisition, so the Fed can create money way faster than the economy is growing.
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...
Well that's perfectly true if they think they're God.
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.
It's nice to find someone who understands that money is not wealth. Productive industries create new wealth. Building a home is creating new wealth. The creation of wealth can be as tiny as planting a few seeds in some flower pots, or as large as building a new 100 megawatt power plant.
I don't see that entrepreneurs and business creators get vilified. They are generally admired. It's the leeches who feed off of what someone else created who get vilified, and rightly so. There is a vast gulf between those who create wealth and those who inherit wealth.
The Fed has to print $500 billion a year just to fund our trade deficit. Any less and the money would drain out of the US economy, leading to deflation. Create too much money and we end up with inflation. In theory, the amount of money in circulation should increase in lock step with growth in the economy. In practice, most of the new money goes into fixed asset acquisition, so the Fed can create money way faster than the economy is growing.
The Fed isn't creating money these days, in fact unwinding QE is about the opposite. The $500B is through Congress and deficit spending.
Pursuant to /american/ law, congress can COIN money (stamp bullion) or BORROW money.
It cannot 'create' bullion, hence it cannot create money.
Currency (federal reserve notes) are repudiated IOUs denominated in dollars (coin) but are not redeemable since 1933. Ergo, they're worthless (no par value).
THOSE WHO ARE EXTENDING CREDIT AT USURY ARE GETTING FILTHY RICH.
But you already knew that.
Pursuant to /american/ law, congress can COIN money (stamp bullion) or BORROW money.
It cannot 'create' bullion, hence it cannot create money.
Currency (federal reserve notes) are repudiated IOUs denominated in dollars (coin) but are not redeemable since 1933. Ergo, they're worthless (no par value).
THOSE WHO ARE EXTENDING CREDIT AT USURY ARE GETTING FILTHY RICH.
But you already knew that.
Ironically, those worthless IOUs are underwritten by 320 million "contributors" via FICA. {Voluntary servitude}
If ever a substantial number of people withdrew from FICA, the federal reserve notes will no longer be fungible.
Overnight, billionaires become zero-aires.
The usurer / socialist alliance will collapse.
Outside of barter, trade will cease until a new medium of exchange is agreed upon.
Fun, fun, fun.
The Fed isn't creating money these days, in fact unwinding QE is about the opposite. The $500B is through Congress and deficit spending.
Congress cannot create money. The reason deficit spending adds to the debt is that they have to borrow the deficit from someone. That can be offshore money, or money created by the Fed.
Pursuant to /american/ law, congress can COIN money (stamp bullion) or BORROW money.
It cannot 'create' bullion, hence it cannot create money.
Currency (federal reserve notes) are repudiated IOUs denominated in dollars (coin) but are not redeemable since 1933. Ergo, they're worthless (no par value).
THOSE WHO ARE EXTENDING CREDIT AT USURY ARE GETTING FILTHY RICH.
But you already knew that.
Coins are done by the Treasury, part of the Executive branch.
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