Which is worse- taking 10% from everyone's bank account, or printing money and devaluing the currency?
9 Answers to "Which is worse- taking 10% from everyone's bank account, or printing money and devaluing the currency?"
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not sure , but both are freaking me out . best thing to do is buy gold and bury it in the backyard
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The day could come when rice and beans will be worth much more than gold......of course a whole lot of terrible stuff would happen as a result. The strong would simply take from the weak on a greater scale than they do now.
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the rich and powerful have from history and the only thing that will stop the situation will be when people will not have hop for a future then they will rebel but untill then when you spend all your life working to feed your family you will not rebel . and the rich and powerful know that so i think that they will never let us get to that point they will robbe us but they will always live us hop for a better life so i dont see us western countries going in to poverty
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Fiscal feudalism got you down?
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there isn't much difference. unless you are keeping your money under your mattress
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Taking 10% of people's money is a form of Property Tax. Many places tax property. In most of the US our "real" property or land is taxed. In many places "personal" property is also taxed, but only collected on big items like boats and vehicles. Taxing property is a way of "Tax the Rich" because poor people don't have property.
Many people strongly object to property tax, but politicians love to rob people and their hired gun thug gangs are always willing to enforce their robbery. . Like (2)
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I'm going to go with legalized robbery. Sounds a lot like what Libyan leader Moammar Gadhafi did when he took power, he went on a cash grab.
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Didn't Noriega do that in Panama too? (not sure) Yeah. It really comes down to whether you'd like to be up to your neck in **** and have a bucket of snot poured on your head, or whether you'd rather be up to your neck in snot and have a bucket of **** poured on your head! Beautiful analogy huh!?
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LOL
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Both.
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Currency has no real value to begin with.
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sure it does, even imagined value is value if it is accepted by the status quo. Try purchasing something without currency.
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Value is whatever an individual wants it to be. Fiat currency has value because individuals accept it as legal tender. A truly valueless currency would not be accepted as legal tenderLike (1)
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Devaluing the currency would be worse, because it might engender an artificial boom.
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Yes. At least Cyprus isn't insulting the intelligence of her citizens. That being said, I don't think 10% of every bank account in the States would really put much of a dent in our debt problem.........would it?
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Probably not, but even if we assumed it did cover a prodigious portion of the debt, our statesmen will reinflate the debt.
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Best Answer (Chosen By Asker):
Posted by corvinblack Mar 20th, 2013 at 8:27AM
Individual eurozone countries can't print money on their own so they do not have that choice. As for other countries, they will all print money before raiding bank accounts. The US is the country that is printing the most money at the moment but that should change in the coming weeks when Japan announce their new stimulus program.
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Reply by puck61 Mar 20th, 2013 at 9:04AM
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