Growing money on trees devalues currency not only by causing inflation but by turning the population into the “idle poor”.
Why Excessive Money Printing Threatens American Productivity and the Value of the US Dollar
- The problem with the Fed’s money printing is that it eliminates our need to work, and this is perhaps more pernicious a problem than the inflation it causes.
- The banks create money & lend it to us so we can buy cheap imports, eliminating the need for Americans to manufacture things at home. Further, talk of the government paying out a universal basic income (UBI) would free us from even having to work our service jobs.
- That’s a bummer because if we learned at least one thing from the covid lockdowns, it was that people need to work – as much for the money as for their mental well-being. Americans like to be productive, it’s generally what defines us as a people.
- It is time for us to fully embrace that the value of the U.S. dollar is not derived from the backing of the Federal Reserve, banks & the government, but rather from the backing of hard-working Americans. As excessive money creation prompts idleness, we should resist this practice as much for ourselves as for our currency.