Would this work

First off is there not a forum for economic non conspiracy issues?


Any way, I was just sitting here in silence thinking to myself.
I've always been told that the value of a dollar is mostly dependent on how many dollars are in circulation.
More dollars equals less worth (inflation).

So, hypothetically if a bunch of billionaires and multi-millionaires were to physically destroy millions/billions of physical dollars and or
physical assets. Would that bring the value of the dollar way up? Thus making the argument over higher wages moot?

Or does it not work that way?





I know that a lot of fear mongering and scare tactics get pushed on ats members so let me be clear that I'm not suggesting that rich people be forced to do this. I know that's where a lot of your minds will instantly go to. I am simply asking if this is possible.

Personally I think that inflation is artificially created , on purpose, to make the ultra-rich richer and the poor/middle-class poorer. So no, even if this would work, which I doubt, they would never agree to do this.

a reply to: scraedtosleep

It wouldn't work, it would just make it harder for people to do cash transactions being that there is a shortage of cash.

a reply to: scraedtosleep
I think Global Meltdown is the category it fits most. The only real indicator it's for economic topics is the icon. Slightly odd name.

Physical money is only a small portion of the total in circulation. Physical assets I guess could be incinerated or something. That still leaves a stack of paper derivatives that no real asset exists for. Many people think of the economy as a one to one exchange multiplied millions of time per second, but it's closer to a circulatory system. We have an enormous circulatory system and not enough blood to keep it going. Printing money stops the patient from flatlining, but without plugging the holes it just keeps bleeding.

It's mostly just ones and zeros.

Assuming they destroyed those digital dollars and the price went up we're still in a situation where there is an out of control entity controlling a variable supply currency. They will simply print again. It's inevitable and would start almost immediately after the last one was burned. The system creates debt as a routine part of functioning and it won't work as it stands. We can have a debt based system or irresponsible leaders, but not both.

They've printed (on a screen at the banks) many billions over the past couple years. Got a mortgage? It was created out of thin air, you are the collateralization of that debt along with the value of the property. Too big to fail? Money is created out of thin air into your company coffers. Surprise, you are still the collateral, taxpayer. Now in 2022, the top tiers having been further enriched, the pain will come for everybody else. The collateral is you and the debt from printing billions is due. Throwing money at the problem is what caused the problem to begin with. You can't spend your way out of a spending crisis. If the people creating debt have no stake in the collateral loss it's just going to keep happening.

It's going to be moot if BRICS end up able to somehow peg to a gold standard. I'm hearing more and more talk that they may have intentions of attempting this. If that is logistically possible I couldn't say, but there's definitely talk about it. The Ruble has already outperformed the rest of the currency market since the invasion of Ukraine and it should concern people that monetary policy leaders were seemingly caught completely flat-footed by this.

a reply to: scraedtosleep

So, hypothetically if a bunch of billionaires and multi-millionaires were to physically destroy millions/billions of physical dollars and or
physical assets.

You must be assuming that the average person with money actually cares about the less fortunate and would be willing to voluntarily give it up for the common good.

originally posted by: ancientlight
Personally I think that inflation is artificially created , on purpose, to make the ultra-rich richer and the poor/middle-class poorer. So no, even if this would work, which I doubt, they would never agree to do this.

No.

Inflation makes EVERYONE poorer.
Inflation is not created by the rich so much as it is created by politicians to allow them to "give out freebies" thus buy your vote and keep THEMSELVES in POWER using YOUR MONEY.

a reply to: scraedtosleep

I believe that medical cost an insurance are a big factor in all this but what if there was a way to
get the majority of the people to pay for medical care without any new taxes and what not

There is and it goes like this..

The frist thing to do is to have sepparete definition between medical and health insurance
Medical insurance would pay for the tangable aspects of care and all the cost from every thing from tounge
depressers to the , all medical staff , electric power water ect,, whaile the insurance side takes tare of the
qulity of health related issues cancer , diabeties ect

the state ceates a fund that pays for the medical side only ,,. were is the money comming from

auto insurance,. how , there is no need for auto insurace to be involed with medical cost..
they should do what they are labebeled and insure cars this drops the cost of car insurance

In other words,, you are takeing the risk of your car not being fixed if in a accident nobodys falt but yours..

That being said , if you whant to drive you still must register your right to drive and that moneny goes into a fund that pays for medical cost for the stat..using about half of the drivers around 3.5 million in AZ, at an average of 800 a year that uear that used to go to the minium amount policies.. go ahead x those to togeather..and that is just half the regisered drivers in one state,..

But the real importance of all this is that everyone needs to drive ,,and for many years,, that
would give the state of predictable ongoing revenue

originally posted by: tamusan
a reply to: scraedtosleep

So, hypothetically if a bunch of billionaires and multi-millionaires were to physically destroy millions/billions of physical dollars and or
physical assets.

You must be assuming that the average person with money actually cares about the less fortunate and would be willing to voluntarily give it up for the common good.

Exactly

originally posted by: Alien Abduct
a reply to: scraedtosleep

It wouldn't work, it would just make it harder for people to do cash transactions being that there is a shortage of cash.

It would work if the money was gone forever, but I think they can recreate destroyed bills. I also don't think it would impact the flow of cash since billionaires keep most of it in bank accounts anyway.