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Joined: Jun 2016
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When all currencies are fiat, does debt really
matter? It may matter to the holder of debt for
now, but if he has that debt redeemed into
convertible cash, it should not matter as long as
that cash is viewed as a viable medium of exchange.
If then debt does not really matter, and money can
be created willy nilly, then why have taxes? There
will be those that taxes are simply a means to
redistribute wealth - take from the rich and give to
the poor. These create issues.
If the poor are given money so that they can eat and
have shelter, without having to do anything in
return, then sooner or later human nature (laziness)
will drive more people into the category that gets
something for nothing. Conversely if the rich see
their money taken away and given to those that do
nothing, the incentive to be rich goes away.
Eventually you will have a society where nobody does
anything but has a sufficient standard of living.
Who then will grow the food, make clothing and
shelter then distribute it... Robots?? Conceivably.
If the money banks can avoid giving money to those
it would use it to create speculative bubbles, this
could be viable. Some would call this a post
scarcity society, others: communism on steroids.
The state would then control all resources, and all
people. This means no liberty. A society of zombie
like human cattle living in prison-like conditions.
Or does it mean a society made solely for hedonistic
ideals and romping around in a new garden of Eden.
Would human creativity be unleashed or just dumbed
down to virtual non-existence.
One fears that this vision of the future is the
driving force of the liberal elite. Who see a future
of paradise.
I fear the vision of futurist H. G. Wells. His
novel the "Time Machine" shows a futuristic schism
where the hedonistic Eloi are nothing more than
cattle for the Morlock who live in prison like
conditions underground.
What prevents this - the realization that Gold is
the only real money and all else is fiction.
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jpdell33
11-12-2020 @ 11:03 AM