The amount of national debt has no direct dependency on how much money is being printed which is what you're talking about here. The only two major times overprinting occured were in the 2008 crash wit QE and covid. I do not believe either of those should have happened, but they weren't world ending amounts and both have almost course corrected. More importantly they don't have much to do with the debt. And i speak as somebody who had his family and life ruined by the 2008 crash, I want those people fed to sharks as much as anybody i assure you.
Fixed scarcity isn't a good thing because it punishes people for actually spending money and contributing to society. The other ending of that stick is bankers being loan snakes but incentivizing everyone to sit on their money and do nothing causes the exact same problems. This caused the great depression and the french crash in the 18th century and a similar thing for spain in the 17th century.
~1.5% inflation is the perfect number that makes saving viable while also encouraging people to start a business, but even that depends on population growth which is why unchecked immigration and globalism fucks it all up.
Can you wear them as clothing? Because you CAN do that with cloth which is what dollars are made from.
Silver and gold do not have magic value, nothing does. Not everybody cares about shiny things, especially not when they're starving. Gold has value because everyone assumes everyone else will assume it has value, but that's no different from how dollar bills work.
My friend you are clearly very intelligent and know a good bit about what your talking about but your so dang AdamSmithpilled its DRIPPING off you
For THOUSANDS of years the idea of how trade should best be conducted was experimented on and refined, the 2 things I mention about what a people look for in ANY form of currecny isent my opinion persay, its the accepted consensus of most modern Anthropologists, this has taken MANY forms over the years but 2 of may favorites are both things I previously alluded to but im sure you assumed was me being "sarcastic" but for a very long time the people on the Island of Yap (small Micronesian state) used ENORMOUS stone "discs" with a hole in the middle as there currency
Reasonable scarcity and they all agreed it has value. Sure you can "make" more but how many giant stone discs can you turn out a day all by yourself with stone age tools? Its like mining gold, you can do it but not fast enough or in great enough quantities to stop making it "scare" on a larger scale
Or how about Shells?
Scarce as in there is a fixed amount that can be found but is unlikely to ever be depleted as the animals keep making new shells but you cant control the animals (now in theory you could but back then you couldn't) and the people who used it agreed they had value, why? who knows same reason the people on yap agreed the stones had value or people in Rome believed gold had value or people today believe dollars have value.
I could go on but I feel those are the 2 coolest and most easy to grasp examples of how value isent the hard part, we have valued all kinds of stuff, its ensuring the SCARCITY that is so important and when I say scarcity I mean as a concept not as a totalitarian decree. The idea should NOT be for a "fixed amount" of something to count as scarce but simply a small supply regularly being capable of entering the economy.
A cutting a stone, hunting for a shell or panning for gold are all PHYSICAL actives of labor that even without being 1 to 1 signal that their is required labor and effort to make even a small amount of new currency enter the economy and the stuble safegaurd of knowing at worst the system is protected by fautigue, a man cant cut a stone, hunt for shells, or pan for gold 24/7 he must rest and sleep and keep himself sane with other pursuits, this is not to be discounted when we look at our CURRENT system.
The printer does not sleep, it does not eat, it does not even feel, much less care (For now
winks at AI) It will print paper dollar bills as fast as you will feed it resources and power, those are the only limiting factors. Without me needing to start clubbing this baby seal of a point, do you see how already we are dealing with a STARK economic departure from all previous paper currency as they were limited to the physical bullion backing them up, a critical aspect of the "modern paper money economy's". The only way they got people to turn their gold in was to PROMISE they would never print more money than they had gold. Think im lying?
And guess what boys and girls, they never went back and fixed this little oopsie, The following screeshot is taken today from the treasury website which I will include a link to.
Source to Treasury
Thats a decimal place btw not a comma, and you are understanding this right, that means ALL the gold at fort Knox is valued at that level.
So the shit is slid right in with the fuck, not only is our paper currency fucked but in a desperate attempt to save it about 100 years ago we ratfucked our physical wealth holdings.
