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by Empact
1837 days ago
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Infinitely divisible money is an unit with unlimited ability to scale to the circumstances - if more is needed, simply add another zero. You err in comparing this to roads, which are necessarily in proportion to the amount of traffic over them. Money needs only to be able to represent value, and the relative value of different things. Good monetary policy may be practicable by angels or saints, but not by men, who stand at the gates of unimaginable wealth that emanates from the printing press. Literal trillions of dollars - who can even conceive of that value, let alone decline the exercise thereof? Better to take it out of our hands. |
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If there was no elasticity in the monetary supply, then in both 2009 and 2021 the entire US economy would have collapsed probably taking down the world with in 2008, and most nations would have been wiped out in 2021 as well.
Also, most major currencies are managed well enough.
If you don't like your local fiat units, then don't hold on to them. Exchange them for anything else you value more and use local currency on as that - currency. Currency was never meant to be a long term store of value.