Printing an unlimited amount of money will result in hyperinflation, and economic devastation.

James Gorrie –

"Will Modern Monetary Theory Blow Up the Dollar?"  

– Flash Points –

1 – Belief in an infinite supply of money is insane.
2 – MMT posits that gov’t spending can be paid for with printed money.
3 – Wall Street financiers love MMT, because it gives them more money.
4 – MMT is a totally insane concept. 

– Synopsis –

Modern Monetary Theory is an “economic absurdity”  that might work for a while. But eventually, it will bankrupt any government that employs it. Printing an unlimited amount of money will result in hyperinflation, and economic devastation. 

Hyperinflation from Dummies

A cursory look at history shows the effects of money printing. In the 1920s, Weimar Germany experienced high rates of inflation. The government’s reckless reaction was to print more and more money. Of course, the inevitable result was … hyperinflation. Duh.   

Only 10 years ago, Zimbabwe suffered hyperinflation of close to 100% per day. Yes, per day! That hyperinflation resulted largely from President Robert Mugabe’s disastrous economic programs.

Quantitative Pleasing

Over the past decade, the Federal Reserve has been engaged in similarly disastrous money-printing programs, euphemistically called Quantitative Easing (QE). It may seem that QE is different from those policies carried out by the Weimar Republic and Zimbabwe, and QE may actually be somewhat different. But there are obvious and undeniable similarities. And disastrous similarities.

And it’s certain that more and more similarities will appear as the Fed’s money-printing frenzy shifts into “hyper-” drive. (Hint, hint.)

The only ones who have benefited from all that quantitative pleasing were the elite and the financial pirates on Wall Street. But all of us will suffer the inevitable consequences. 

– Insight from Outside –

Gorrie mentions the nonsensical belief that “As long as the government can print money, we’ll never be broke,”  explaining how foolish that policy is. In fact, printing money with abandon is one of the reasons that a government will bankrupt itself.

The Sooner, the Better … or the Worse

While Gorrie explicitly states that the Chinese financial world is “on the brink of collapse,”  he only hints that the US economy and the US dollar “would”  collapse, given certain eventualities. 

But, as clarified above, a short history lesson makes it clear that the US dollar “will”  collapse. Sooner rather than later.

Actually, for the past 10 years, the US economy has been on life-support. It is in no better shape than the Chinese economy. In fact, the US economy, as well as many other advanced western economies, is probably in worse shape than China. 

Hi read.cash community I am a Steemit @maJes.tytyty user I have known about this community through social networks as well as publications I will begin to emigrate gradually with my publications. If you want to know my other publications about "Death of the Dollar" you can visit my Steemit profile. I feel happy to belong now to the Read.cash community!