You are viewing a single comment's thread from:

RE: "The problem with socialism is that you eventually run out of other people's money." - Margaret Thatcher

in #news7 years ago

Yes, you are correct, that is because we live in an economy with a fiat currency system where the FED/Banks create new currency by creating debt. But that does not make me wrong, every time new debt is created new currency is created which ends up in the hands of someone in the economy. There are always other people with money, it does not matter if the money was created via debt or if the FED pushed print on their printer.

Sort:  

Yep, there have been many currency failures throughout history https://howmuch.net/articles/greatest-economic-collapses-in-history

Coin Marketplace

STEEM 0.20
TRX 0.15
JST 0.030
BTC 65762.46
ETH 2656.88
USDT 1.00
SBD 2.81