Quote:
|
Originally Posted by host
We live in a world of fiat money and fractional reserve banking. "Money" is created out of thin air, via debt creation.
|
I think the basis of your argument as outlined in the above quote is flawed.
Our "fiat" money has value. The collective market place determines the value of our money. True the value fluctuates and historically there has been inflation, devaluing the dollars purchasing power for some goods and services, but inflation has been more than offset by productivity gains. Think about it 100 years ago, the average person would have worked 60 hours a week just for food, shelter, clothing, a few beers, and perhaps a horse. Today the average American works about 40 hours per week, gets three weeks vacation, has two cars, 4 TV's, 2,000 sq. ft. home, eats out twice a week, etc, etc,etc.
Productivity creates "money".