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Government collateral doesn't even really matter, actually. The thing the fiat currency conspiracy people don't realize is that money is mostly created through loans - that is, demand. If somebody wants a $10,000 loan, that means they are demanding $10,000. When that $10,000 is created, the fiat conspiracy people scream "Wow, $10,000 created out of thin air!" But what they fail to realize is that there was a demand for that money.
It is only when the creation of something in excess of demand results in a devaluation of the thing produced. But in the case of fiat money, that's not the case. $1 of demand results in $1 of supply.
So then why cant I just create the $10K out of thin air for myself, instead having to pay back someone else to do create something from nothing for me? According to you as long as I demand it, it should be okay.
I demand $1bil now. I dont own any money printing machines, so after I have it made, the printer can keep some himself.
So then why cant I just create the $10K out of thin air for myself, instead having to pay back someone else to do create something from nothing for me? According to you as long as I demand it, it should be okay.
I demand $1bil now. I dont own any money printing machines, so after I have it made, the printer can keep some himself.
Counterfeiting is specifically illegal. Only the Sovereign or its agencies can create the sovereign currency.
Counterfeiting is specifically illegal. Only the Sovereign or its agencies can create the sovereign currency.
But at the very least, I should not have to pay it back with interest. Nor and especially not enable private third party individuals to profit immensely off it.
So then why cant I just create the $10K out of thin air for myself, instead having to pay back someone else to do create something from nothing for me? According to you as long as I demand it, it should be okay.
I demand $1bil now. I dont own any money printing machines, so after I have it made, the printer can keep some himself.
You can literally pay yourself a billion dollars as many times as you like. Just get out your check ledger and write "-$1bil" on one column and "+$1bil" on the other side. You can even call your bank and confirm that the total is correct.
Edit: I paid myself seven trillion woolongs for this post.
But at the very least, I should not have to pay it back with interest. Nor and especially not enable private third party individuals to profit immensely off it.
If I were king it would zero percent. CC interest rate is way out of line.
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