Why did we abandon the gold standard?
In: Economics
dont go down the rabbit hole……i did a while back and basically my nutty thought process is below
it’ll get you wondering why i’m paying interest on a home loan that essentially has value to the bank only in the amount of interest they will accrue on the life expectancy of said home loan which i have to apply for to make sure I can pay it back aka good investment for the bank on a theoretical pie in the sky figure that intrinsically has value but the value can and will change as per the money markets based on another value that another country has set that at the end of the day they can magically make money appear to decrease the overall value even further. So im working hard every day to eventually own my own home and i can guarantee the bank will offer to hold on to my deed and use that as equity to give me the “opportunity” to now get an even bigger loan aka i’ve earnt the right to have a larger debt offered to me.
Also dont check out distribution of wealth curve and what really happens when they raise the minimum wage when inflation is going up
The people or families that basically “own the banks” are really the ones doing alright, everyone else are bottom feeders fighting for scraps.
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