Let’s see if I get this: Take the value of the dollar down vis-a-vie other currencies. OK, BUT WAIT!?
I am paid in dollars, so my paycheck would go down in value.
My bank accounts, retirement fund, future SSN checks are in dollars, so they’d go down in value.
My house is valued in dollars, so it would go down in value.
Hmmm. If I have a job, savings and a house I lose value, i.e. money
What if I owe people money?
If I owe money, I could pay people back in dollars of less value than I borrowed.
If I owe lots of money, I’d come out even more ahead.
If I owe tons and tons and tons of money, I come out way and way and way ahead.
Hmmm. Who owes tons and tons and tons of money?
Ah! The government owes tons and tons and tons.
I see now! If the currency gets devalued against other currencies, then those who have jobs, savings and homes lose while the government wins.
Hmmm. How about one more test, an empirical test: What has happened to citizens in countries that have devalued their currency in the past: Mexico, Venezuela, Argentina, Zimbabwe. Their citizens don’t seem too well off.
What has happened in countries that have a strong currency: Switzerland and Germany? Their citizens seem to be doing better.
Would a friend of mine be promoting this idea?
Basically, for a long time now, it boils down to this for me:
If a liberal is for it, I am against it.
Saves me an enormous amount of time and energy, and it is the correct stand to take 99.99875% of the time.
When I am wrong, I simply apologize and say I was mistaken and have changed my mind.
Haven’t had to do that yet, but it works so far for me.
By the way, good post...
Don’t forget those with metals. If they don’t get confiscated (*BIG* if) then they make out nicely as well.
The problem is that if you owe tons of money you need to keep borrowing at higher and higher rates. Over longer and longer terms. That will kill us.
Of course, if you have gold or some other store of value, you can wait for the inflation, convert your gold and pay your house off with three or four ounces.