Hacker News new | ask | show | jobs
by MCRed 3995 days ago
You cannot produce value from thin air. When they produce that money, it is a form of taxation because it decreases the value of the previously produced money. Monetary inflation devalues the currency.
2 comments

> You cannot produce value from thin air.

Even if true (which, its not, value is created "from thin air" all the time; otherwise, wealth would be zero-sum, and per capita wealth always declining with increasing population), this is irrelevant to the upthread claim which was that governments do not create money. Which is quite obviously false.

what happens if you double the money supply but economic productivity also doubles? The money is worth exactly the same as before.