Not being backed by gold or silver, money at this point is - nothing but a Jedi mind trick anyway. Posted: Aug 8th, 2020 - 6:09 am In Reply to: At 3.4 trillion we could hand every American 10 grand. - So much pork there, giving away
Capital is money not production. Our system originally was free enterprise based not money based. It was free people, free association, and free markets.
Socialists get obsessed with the money without understanding that its the production of goods and services that actually drives an economy. The degree that productivity is successful is the driver of the creation of capital, not the other way around. Absolutely we would have a more stable economy if the fiat money were backed by precious metals but even if it were, the socialists would still fail because they don’t understand that it is the production that is important not the capital. Capital is just one factor of production. That’s why they think the economy is just a fixed money pie to be distributed. They will never understand that increased productivity creates increased wealth.
Distributing money does not increase productivity just like increasing the “minimum wage” doesn’t get those workers more “wealth.”
This is why the Dems don't want to open the economy back up.
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