Lets see here. A currency backed by absolutely nothing, worth only about the paper it's printed on, which can be printed at will with practically no restriction since any fear-mongering reason is justification enough to print some more up, a currency who's annual net result consistently remains an ever increasing level of inflation which steals just a little bit more of our wealth/buying power every year.......um yes, this sounds like a perfectly reasonable and efficient currency to be using. Sorry, I disagree with you, Alan Greenspan in 1966 before he sold his soul disagrees with you, Peter Schiff of EuroPAC disagrees with you, most Austrian economists disagree with you, pretty much everyone from the Ludwig Von Mises institute disagrees with you, and the history of currencies around the world disagree with you.
Hell, now they don't even actually "print" money for large amounts such as bailouts, government loans, etc. The Fed just types up some numbers in a computer, and bam you have $700 billion. Yeah, that's a system that sure can't be abused. The argument that our current monetary system's elasticity is a benefit for progress is a double-edged sword. Sure, it works great and things progress drastically. That is until decades later when inflation has bankrupted everyone, the dollar isn't even worth using to wipe your butt, and a cheeseburger cost $50,000 (think Weimar Republic hyperinflation). If I was able to print up my own money, I can guarantee you by the end of business today (Thursday) I would have an exotic car collection to shame the Sultan of Brunei, I would own several of my own islands and hell maybe some third world countries, I would fly around all day in an SR71 because I can, and my wealth would be praised by all.....and by the close of business on Friday I would be broke and my currency would be worthless, and the news would whine about it and blame the Republicans.
I would invite some of you to learn about the Austrian school of economics. Check out Ludwig von Mises Institute - Homepage as there is an unbelievable amount of free information there.
All of that aside, one thing is for sure. No matter what system we have, you just can't trust those godd@mn bureaucrats because they will inevitably find a way to screw up even the most perfect systems of finance and economics.
Hell, now they don't even actually "print" money for large amounts such as bailouts, government loans, etc. The Fed just types up some numbers in a computer, and bam you have $700 billion. Yeah, that's a system that sure can't be abused. The argument that our current monetary system's elasticity is a benefit for progress is a double-edged sword. Sure, it works great and things progress drastically. That is until decades later when inflation has bankrupted everyone, the dollar isn't even worth using to wipe your butt, and a cheeseburger cost $50,000 (think Weimar Republic hyperinflation). If I was able to print up my own money, I can guarantee you by the end of business today (Thursday) I would have an exotic car collection to shame the Sultan of Brunei, I would own several of my own islands and hell maybe some third world countries, I would fly around all day in an SR71 because I can, and my wealth would be praised by all.....and by the close of business on Friday I would be broke and my currency would be worthless, and the news would whine about it and blame the Republicans.
I would invite some of you to learn about the Austrian school of economics. Check out Ludwig von Mises Institute - Homepage as there is an unbelievable amount of free information there.
All of that aside, one thing is for sure. No matter what system we have, you just can't trust those godd@mn bureaucrats because they will inevitably find a way to screw up even the most perfect systems of finance and economics.