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RE: Social Norm Pressured Sharing vs. Voluntary Sharing

in #psychology8 years ago

Thanks! Likewise!

Hey a Hayek guy! I respect that. We're not gunna find much common ground though hahaha.

Money supply can be controlled, that's what the feds for. See, I feel like your coming at this with emotion and see a conspiracy where there isnt. It was not "designed to leach wealth," nor is it acting morally superior. In comparison to the gold standard it is the stable, logical approach. Of course they will take measures that will occasionally lead to inflation, or increased interest rates that makes debt more expensive, but thats the price you pay for control, and that control, I believe, is key to stability and proper governance.

I'd rather have control of inflation than let jesus take the wheel ! The federal reserve isn't printing money for some spiteful reason, it's doing it for monetary stability.

Just so were clear im from Canada, but our central bank is the same in practice haha.

"Each time the fed does this it buys the debt of the government in the form of bonds (effectively putting the nation into more debt)) it steals from both of our pockets in the form of reduced purchasing power for the same amount of work" - I understand what you mean by a reduced purchasing power, but there is no increase in debt when doing this. Just increased money supply, leading to reduced purchasing power like you said.

The US national debt is simply a government issue, the only effect the fed would have on it would be through interest rates, and interest rates will only fluctuate according to the economy, not debt. It doesn't really matter too much though, your nation's debt seem huge in absolute terms, but in terms of debt to GDP ratio, you're not in horrible shape.

-Brownz