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A comment on Puerto Rico files for biggest ever U.S. local government bankruptcy. Parent comment

Re:Puerto Rico files for biggest ever U.S. local government ... by Consultant32452 on Wednesday May 03, 2017 @08:46PM (#14261561)
I'm sure it matters, but not as much as a surface analysis would lead you to believe. If we had to hoard a bunch of gold to back up the size of our economy, and further demanded our trade counterparts do the same, then the price of gold would've risen and our ownership proportion of the total sum of gold would've matched our proportional global wealth. I don't have a strong opinion on asset backed currencies, but most of the things armchair economists say about it seem pretty irrational.
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Re:Puerto Rico files for biggest ever U.S. local government ... by selectodude on Wednesday May 03, 2017 @09:17PM (#14261686)
There's more people in the country, so there's proportionally more dollars + a little more as an incentive to spend your money. If dollars gained value faster than economic growth (which you just effectiveally capped at the amount of gold your country possesses) nobody would ever spend it. I know I wouldn't.
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Re:Puerto Rico files for biggest ever U.S. local government ... by Consultant32452 on Wednesday May 03, 2017 @09:55PM (#14261834)
I'm not sure the current system which actively discourages thrift while enslaving our entire population to life-long debt is objectively better.
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