We should hyperinflate money until rich people lose it all, then inflate it.

submitted by Teak from self.whatever

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[–]magnora7 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (4 children)

When hyperinflation happens, the hyperwealthy just change currencies, or buy valuable assets like gold and silver (and aluminum, and oil, and so on).

Meanwhile the middle class are stuck in dollars, so they get screwed. It would make a lot of existing debts easier to pay off. But it would also make existing salaries worth less. So it's hard to say it'd be a net positive against the richest 0.1%, and in fact probably the opposite.

[–]Teak[S] 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (3 children)

Good point. I'm wrong on this one.

[–]magnora7 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

Ha, glad to see you open to having your mind changed, I like you already. Also this quote comes to mind, a great quote from Jefferson that's exactly about this: https://pics.me.me/quote-i-believe-that-banking-institutions-are-more-dangerous-to-45530107.png

[–]Teak[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

Thank you dude. I didn't know Jefferson was calling it out. These dude must have been "woke as fuck" as they say, nothing but life, no online.

[–]magnora7 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Yeah they were really quite wise for their time, no doubt about it