Liberal Forum

Dantev2 » 08 Nov 2017 10:42 pm » wrote: Like I said in a previous post, I would do away with money altogether, albeit gradually. It is an archaism that will one day serve no use, other than to shackle mankind to an obsolete system of profiteering and exploitation.

A public bank that prints money as a utility, and not a for-profit enterprise, would no longer route vast sums to the bankers' pockets. This is an argument with merit.

That being said, I maintain the core of my argument in 2 parts (and won't let you get away with these):

1) A private bank does not "print money out of thin air."

2) The "money in circulation" to "total value" ratio is always adjusted in the long run by supply-and-demand, regardless of which entity does the "money printing."

This means, in the real world, regardless of the intentions of the power in charge of currency issuing, some groups are going to benefit and others won't, depending on the change in ratio.