Subnostr

I've also heard people naively say that since the government can just print money they don't need to collect taxes. While this is false (see my previous note), if enough people believe it, perhaps we could start a movement to eliminate income on that basis. 😏

Satosha 1y ago

I mean , yes .. there is some truth to it .. but over simplificatiion blows my mind .. first of all we need to understand that the people buying sovereign debt are not stupid .. and they have thousands of choices to invest their money it rather than simple T-bills ..

Reply to this note

Please Login to reply.

Discussion

Satosha 1y ago

Second - if that is true - why dont El Salvador prints Trillions and buy all the #bitcoin :-) .. I mean there is limit .. not every company can be MSTR !

BitcoinStu 1y ago

El Salvador does not have it's own currency. They are dollarized.

Satosha 1y ago

Exactly my point 🤣

Hazey 1y ago

The world needs dollars because important resources, such as oil, are settled in dollars. Most debts are settled in dollars. When there is a market crash, global demand for dollars goes through the roof, called a rush to liquidity, because people sell assets to acquire dollars to cover margin calls.