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View Diary: Money Is the Unit of Government Intervention (16 comments)

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  •  The money printed by Bernanke (2+ / 0-)
    Recommended by:
    chantedor, katiec

    is not in danger of "flooding out" the oligarchy by depreciating the value of their money holdings, because they merely use that cheap money to buy things that DO have permanent value.  They like to call them commodities and real estate.

    Land. food, natural resources, various government enforced monopolies (i.e. telecom, power systems, etc.) even water.  All become more and more valuable as the oligarchy encourages more and more humans to be born, and drive up the cost of our finite resource base.

    So even when government created "money" value collapses (as during our current depression) the oligarchy still "owns" all the things modern Western humans need to survive.  Food, water, shelter (more people will now pay direct "rent" to the oligarchy, or the petty oligarchy, instead of loan repayments to banks, which, of course, are also owned by the oligarchy).  

    It's a beautiful system for maintaining an oligarchy.  Not so much for democracy.  Or the ability of most humans to live like humans.

    •  I think we need to back our fiat with labor units. (1+ / 0-)
      Recommended by:
      recontext
    •  Didn't see was rescued - let me reply now (0+ / 0-)

      It is not that the oligarchy cannot find permanent value for their money. It is that as the QE money stream from the government swirls around there are new winners emerging in certain hot fields or making certain bold and correct gambles and they come to take their place at the oligarchy table. This causes the existing oligarchy to have a smaller share of the power pie and in some cases long term displaces them.

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