@Tfmonkey We know people won't do anything because this is the same as Scrip in WV COAL mines. Corporations would pay you scrip instead of money to use at the company store etc. CBDC is basically the same. https://rethinkq.adp.com/artifact-coal-company-scrip-miners/#:~:text=Some%20scrip%20had%20a%20hole,coal%20companies'%20control%20over%20miners.
@VeganBob correct. Nobody will do anything until they're in the gulag, and then go "someone else not me should have done something".
@Tfmonkey Then there won't we be hyper inflation and the Catherdal will just enslave us. They will make us some burning of the Riechstag excuse. So they will rule the world in some Cyberpunk dystopia.
@VeganBob of course there will be hyperinflation. Worthless money doesn't stop being worthless just because you can turn it off.
@Tfmonkey What am I missing? If you prevent people from buying stuff that caps.Outside of a barter system and utter misery not saying it will be good but it seems like we will be enslaved with scrip. Price can't go up because you have create constraints on demand. Also, they will further decrease demand with environmental nonsense legislation. Consumption = pollution. You can't travel, buy new products, meat etc because it equals pollution. I just don't see how we will go to hyperinflation...
@VeganBob I already explained it as simply as I can, so all I will end up doing is repeat myself.
Good day sir.
@Tfmonkey I know you hate me and think I am a pest. With Central Bank Digital Currency the govt would effectively control aggregate demand/consumption. Prices are a function of supply and demand. If you kill billions and enslave them with scrip then you control or lower demand offsetting the supply of 💰 lowering inflation. Also, the govt could take money out of the system lowering the M2. It would be miserable but the Catherdal would still be on top. What am I missing? Really? Why am I wrong?
@Tfmonkey Just show me what I am missing like on a math problem. "Look you forgot to carry the 1 "etc...
The way I see it the currency would able to suppress aggregate demand or market demand as you want beef and you have money 💰 for beef but the govt doesn't allow you to express the demand for beef. You could use black market but with barter? How many vegan paddies does a meat producer need?
@VeganBob In prisons, they used to use cigarettes as currency because the prisoners weren't allowed to have cash. These days, they use packs of Raman as currency because cigarettes are no longer common in prisons.
Do you understand the difference between wealth, money and currency? Once you do, you'll understand why you're wrong.
@Tfmonkey agreed that there will be a black market and you will get leaks of demand. You can sneak cigs in prison for a value of exchange. It works on a local level but highly industrialized products will be harder to hide and supply. Yeah you sneaking your neighbors a beef burger will be a thing but Americans eat 10 billion animals a year. The govt would notice that. Money is a unit of exchange. Wealth are assets in the real world. Currency is a type of money.
@VeganBob I'm really tired of talking to you about this and you not getting it, so just imagine you lived in a world where you got paid in coupons that could only be used to buy certain things, but you needed other things.
All that would happen is the things you were allowed to be would be bartered for the things you couldn't buy, period.
The government would have to shut the money off completely forever to prevent this, which is functionally the same as a monetary collapse.
Good day sir.
@Tfmonkey Hopefully you answer this on the Saturday Sunday show since you have been answering many of my questions on the show. Love your analysis
@ButtWorldsMan @Tfmonkey I have never been on the show...
@Tfmonkey please enlighten me how it is different? If I have $1,000,000 in my account but I can only spend $50k of it on certain products the govt deems ok, how is that not controlling aggregate demand? Yes there will black market but just like with legal weed etc. But if I can't buy anything or have access to my money I don't see how it will matter... I am not a troll