Bernanke Thinks You Are Worthless!!!
March 13, 2011
– Comments (10)
"Any nation that openly prints its currency is essentially telling its citizens their production is worthless." Alstry
Money is simply a claim check for another's production of goods and services. You get it when you produce....and that production can be just about anything like performing surgery on another, selling a product or service, or even pointing a gun to another's head and taking all their production/money.
Some forms of production are deemed postive to society and legal and others are illegal, like armed robbery...but in Economics both are production.
Where things get interesting is that money MUST be tied to production, otherwise it is really worthless. It is why it doesn't really matter whether money is gold, rocks or paper....as long as it is tied to production, it can be exchanged for production.
Now that Bernanke is just printing WE THE CITIZENS money without any tie to production....it should not be long before ALL CITIZENS start demanding money. And if you had any brains, and you are an American citizen, YOU SHOULD DEMAND your fair share of money.
Why should a banker get piles of WE THE PEOPLE's printed money for no production and you get very little? Or a politician get WE THE PEOPLE's printed money without producing tax receipts and you unemployed?
Once the money is NOT tied to production and just printed, it becomes ALL OF OUR MONEY and why the teachers in Wisconsin are morally right to demand more for their production...especially since the Governor and Senetors are getting a lot more printed money then they are and not generating the taxes to pay themselves....
Whether your production is worthless or not is a seperate issue...and as more jobs get replaced by machines, most of us, including Alstry will find that our current production is or will soon be obsolete.
When we all want to milk Bernanke's worthless printing machine.....and few give a damn about production anymore, it is a www.udderworld.com
RSS Headlines
Fool UK