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this post was submitted on 25 Dec 2023
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Neoliberalism is a zombie ideology. Read a book: The Shock Doctrine
Printing money only devalues a currency when there’s no taxation to subsequently shred the money.
Second Thought: Why the Government has Infinite Money
Printing money is like borrowing it from the taxpayers.
If there's hyperinflation, it means that said loan isn't being paid back, far from it actually.
There wouldn’t be any money for taxpayers to pay if the government hadn’t first printed it and spent it on goods and services, eventually ending up in the paychecks of taxpayers .
Hyperinflation is now well understood, and printing money is not, on its own, the cause.
PEGS Institute: What Caused Hyperinflation In Weimar, Zimbabwe And Venezuela?
Of course it wouldn't be there, I'm not saying that the government spending money at all is bad.
What is bad is the government spending too much money, so much that they introduce way too much money into the economy, making the rest worthless.
Obviously it's a combination of factors, but printing (and then introducing) a shitton of money will have very direct effects on the value of the currency.
Oh I see, you’re a bitcoin stan. Tell me more about your galaxy-brained understanding of economics 😂
From David Greaber’s and Michael Hudson’s work, I think I have a better understanding than most.
Whether or not you need a government to manage money is neither here nor there. The specific monies that the US & Argentina specifically have are sovereign fiat monies, which are controlled by their governments.
While I would definitely never recommend anyone to watch a second thought video essay. Seeing as they are an untrustworthy narrator. Who lies and misleads people. Especially around topics encompassed by their preferred ideology. This video at least is relatively safe. And straightforward. It's just sad that they aren't honest and objective enough that you could recommend them for people to watch in general. The video production quality is usually always decent enough even if the information isn't.