For those saying there is no cost to government printing money out of thin air, all you have to do is check the interest rate. That tells you the future cost is being factored in.
Also for those socialists that think this means government and central banks can just print $$ at
Also for those socialists that think this means government and central banks can just print $$ at
...will, explain why governments still need to collect taxes. If there is no cost to government printing money out of thin air than governments no longer have to collect any taxes & the tax rate can go to zero for everyone. If there is no cost to printing money out of thin air,
...then the government no longer needs an income source & can do away with taxes & just print up the funds needed to pay for their budget. We can disband the IRS and state tax agencies, custom collections, fines, &tickets as revenue generators for local/state/federal governments.
If government can just create money out of thin air without consequences than there is no reason to work, no reason to buy debt from the government. No reason to have debt. The biggest trap that printing money out of thin air and why every government falls for it's sweet embrace
....sooner or later is because of the illusion there is no cost for doing so. The fact is debt doesn't matter until the very moment it does. Printing money out of thin air is fine until the very moment it isn't. While no one knows of that exact moment when each becomes a
...problem, have no doubt that moment will happen. Usually, it happens at the exact worst time for a country.
