Re:Why I’m so “against” Ethereum
by kortilla on Saturday December 29, 2018 @05:20AM
(#18782968)
The US government is not printing money as part of its normal funding cycles. Where does this stupid notion come from?
The normal funding cycle is this: government issues bond in exchange for cash now. These are treasury auctions and they happen constantly.
There is no injection of money in this process. If you don’t believe that, ask yourself this. Why did the exact same process work when the US dollar was backed by gold?
Re:Why I’m so “against” Ethereum
by BryanBigs on Saturday December 29, 2018 @12:47PM
(#18784740)
I think the idea is, you buy a bond for $98 to get $100 back on maturity in a year (as an example).
So $2 cash does get injected/"printed" when debt levels stay the same or go down.
We just issue more debt though in practice.
The normal funding cycle is this: government issues bond in exchange for cash now. These are treasury auctions and they happen constantly.
There is no injection of money in this process. If you don’t believe that, ask yourself this. Why did the exact same process work when the US dollar was backed by gold?