Ironically, with strong regulations from a neutral government, the conflict between the privileged billing class and the poor working class would not erode our society.
> The entire economy is a massive government-centered money laundering scheme.
This kind of shifts the blame away from the private sector which is actively undermining democracies.
> Citizens of nations are burdened with trillions of dollars of debt that can never be repaid.
Incorrect. Where is the money that had beem loaned by central banks and is now needed to keep infrastructur and our society in general afloat? Our f̵i̵s̵c̵a̵l̵ monetary system is a zero sum game in the end. So where did the money go?
> Incorrect. Where is the money that had beem loaned by central banks and is now needed to keep infrastructur and our society in general afloat? Our f̵i̵s̵c̵a̵l̵ monetary system is a zero sum game in the end. So where did the money go?
Most of that money which the government created comes back to the government via taxes. High taxes keep the loop short. Like I said, after 10 hops, with just 30% tax, $100 ends up being taxed down to $2.80... So say a corporation receives a $1 billion gov contracts, pays their executives and employees, then their employees pay rent to their landlords, then the landlords pay builders for renovations, etc... 10 hops and only $28 million remains of that 1 billion... $972 million is back in the government's hands whence it originated.
It's just a matter of time before that full $1 billion dollars has hopped its way right back into the government's hands via taxes.
> Most of that money which the government created comes back to the government via taxes
Super wrong. (At tends of quadrillions of dollars wrong this might be the wrongest economic take I have ever seen.)
Total taxes in the U.S. in 2023 were $4.5tn [1]. GDP, a sum of transactions, $29tn [2].
More trivially: the money supply, at $21 quadrillion [3], dwarfs both the federal budget and the Fed’s balance sheet combined, and has almost-monotonously grown over the last century.
"Our fiscal system is a zero sum game in the end."
That would be news to me?
Money is created all the time and also lost. The central banks try to keep prices stable, by influencing the rate in which money gets created, so why should it be zero sum?
(not a US citicen, though, but I belive the US central banking system works this way)
>This kind of shifts the blame away from the private sector which is actively undermining democracies.
This. Rants of the GP's type are pretty common after one gets an intro to the monetary system with a little bias thrown in. These are readily available on a YouTube near you.
They tend to be vague and talk about "the banking system" or "the economy" or "the government" being somehow corrupt or rigged, as if by design.
Thing is, they're not wrong that something is amiss, but it's not the systems in general. It's private people and corporations that are doing the rigging. Free flow of money into politics courtesy of Citizens United, regulatory capture, a purchased SCOTUS that now openly represents anti-democratic ideals and defangs government in favor of oligarchs, etc.
And, it's accelerating. Who'll even need regulatory capture anymore when you can just have SCOTUS nix the government's power to regulate?
These are the actual issues and their source is pretty clear. Through that lens, vague ideas about "the system" seem so egregiously obvious a distraction, they read like disinfo.
> The entire economy is a massive government-centered money laundering scheme.
This kind of shifts the blame away from the private sector which is actively undermining democracies.
> Citizens of nations are burdened with trillions of dollars of debt that can never be repaid.
Incorrect. Where is the money that had beem loaned by central banks and is now needed to keep infrastructur and our society in general afloat? Our f̵i̵s̵c̵a̵l̵ monetary system is a zero sum game in the end. So where did the money go?