We’re supposed to believe we’re led by the “best and brightest”, and these people come up the scheme of simply printing money to make debt problems go away like magic. If it were only so easy.
It’s the financial switcheroo on a world scale. Buy real things with money you don’t have and just print money to pay for it. Magic. It hides who really pays for it; each and every working man who attempts to save sees their savings eroded by inflation. Dollars gravitate toward zero worth; because they are indeed made worthless. It is the ultimate stealth tax increase on the productive.
Governments start out financing themselves by taxing the present. When they have pushed taxation to the limit, they tax the future by borrowing. When that avenue has been exhausted, they tax the past by inflating their currency. After that, what?...usually some sort of upheaval.
“Dollars gravitate toward zero worth”
As an added insult, savers get punished with next to zero interest rates. Money printing and the old fashioned virtues just don’t get along.