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Executive Sadman

The 'exponential' Growth Of Money, Is It Really A (The) Problem?

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A lot of people seem to deem the problem with our inflationary monetary system is its built in inflationary tendency. Some say this is by design - I don't believe it is - debts can and have been written off before and the debt to GDP ratio has indeed fallen - and I do mean fallen, not, has happened in the last 5 years been transferred from the private sector to the taxpayer.

I would contend that it is not its exponential nature that is the problem, it is its debt based nature. Exponentiality can be dealt with easily, by periodically making £10 old pounds worth £1 new pound. Debt, on the other hand, means putting your countries future at the behest of other nations investment decisions, which may or may not coincide with your own economic cycles. Sure governments can encourage that money to be repatriated by printing more money to force the debt to be exchanged for non-cash assets, but that results in bouts of inflation and living cost increases - often visited upon those who had no hand or vote in the original decisions to increase debt in the first place. And, of course, when 100% of the country is foreign owned, you have not only nothing left to sell, but see whatever wealth remains paid to rent seekers.

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Would you bother to enter a pub quiz if the last question was worth more points than all the other questions put together?

No. I rest my case!

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