· Let’s begin this (moi*’s) brief offerin’ with googlin’ – what happens when governments print their currency… here are the top answers:
o https://www.economicshelp.org/blog/634/economics/the-problem-with-printing-money/
o https://www.econ.iastate.edu/node/673
· Okay… why did moi* offer the above five ⬆️ huh? Briefly moi*… aka goof*… responds:
o Because moi* briefly read the 4th and 5th links above… no, not entirely… and came upon these words of ignored wisdom in #5… moi* shares… read and weep…
“It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with 'free banking.' The truly unique power of a central bank, after all, is the power to create money, and ultimately the power to create is the power to destroy.” Paul Volcker (1994)
“Large government deficits exist and will almost certainly increase substantially, which will require huge amounts of more debt to be sold by governments — amounts that cannot naturally be absorbed without driving up interest rates at a time when an interest rate rise would be devastating for markets and economies because the world is so leveraged long." Ray Dalio (2019), founder of Bridgewater Associates, a hedge fund, and author of Principles: Life and Work
* moi = gettin’ old ornery fella… goof… asks… when is “you know what” gonna hit da’ fan… ?
