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NAVIGATION

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Debate:
Are Taxes
Necessary

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Experts say real money is a banknote made from and built on credit and collateral. They say greenbacks (i.e., fiat money as legal tender representing wealth without debt) invite hyperinflation— because to issue some, tempts nations to issue more. They work at first; but if people do not save, demand can rise too fast for price to remain affordable—they say.

We argue that money is in short supply for no good reason. If people had more, they would not be hungry or without a home of their own—so we say.

But would more food and homes be supplied at an affordable price—if government pumped money into circulation for good reason —but much of it was not based on debt?

The issue must be faced: We must consider what effect it will have on price if money based on wealth is supplied in large amounts. Ben Bernanke, for the moment, is on our side. Quantitative easing is one of his welcome answers to deflation now. Later on this site we debate the matter.

Time was when supply was not radically raised by technology. And labor was likely to be short changed. To prefer that outcome is crimimal today. Money can help inventors end scarcity of some things? When they do, we must create money to match supply.

FOR MORE ON MONEY USED TO WIN ELECTION AND BUY THE LAW go to MONEY-page 3