4/11/2020 The Federal Reserve has recently announced multiple stunningly large economic support programs totaling many trillions of dollars. 1 trillion is 1,000 billion. The public number for the national debt is currently about $24 trillion.
If the Fed can print $ Trillions at will without adverse consequence and "lend" it to the Treasury, then why do we need to pay taxes? With about 200 countries over about 5,000 years, if the tactic of printing money vs taxing the production of the populace worked, we'd know it by now. It doesn't work for long.
Why do countries always tax their citizens? Because extreme baseless money printing has been proven not to work over and over again.
See https://jmstweets.blogspot.com/2020/03/why-printing-money-adds-lubrication-to.html
"History is full of sudden currency collapses. Argentina, Hungary, Ukraine, Iceland, Venezuela, Zimbabwe, and Germany have each experienced terrible currency crises since 1900."
Excerpt from https://www.investopedia.com/articles/forex-currencies/091416/what-would-it-take-us-dollar-collapse.asp
#WhyTax ? Because printing fiat money will lead to greater fiat money printing as politicians buy votes, or difficult times demand a remedy. And excessive fiat money printing devalues the money until its practically worthless.
Find a financial plan to cope with hyperinflation. Before Covid-19 it was unclear whether we'd experience hyperinflation. Now with all the monster bail out programs devaluing the US Dollar (#USD), and the economic shut down of demand we'll need to climb out of one day, it seems pretty clear hyperinflation, or something close to it, is on the way, in my opinion.
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