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9 Jul 2020 09:53:04 UTC
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Deficit Spending Via Fiat Currency Inflation Always Leads to Ruin.
#chancellor #sunak #stimuluscheck #budgetdeficit #keynes #socialism #currencydebasement #inflation #centralbanking #federalreserve #freemarket
Today I will look at the ongoing interference from governments and Central Banks around the world in the functioning of the economy. I will focus on the UK and Chancellor's Sunak announcement that the government will be borrowing almost 20% from the private sector in order to help the economy.
I will argue that this kind of policy never leads to prosperity as governments do not create wealth but only confiscate from one sector of the economy in order to give it to sectors that governments favour.
My conclusion is that fiat currency induced deficit spending by governments have never led any nation or country to the road to prosperity and that, in fact, it leads countries to ruin.
The Law by Frederic Bastiat: https://cdn.mises.org/thelaw.pdf
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ETHEREUM: 0x990C216CE9218943307319D5F9DAd602A9A872DC
BAT Currency: Uphold a/c name maneco
Today I will look at the ongoing interference from governments and Central Banks around the world in the functioning of the economy. I will focus on the UK and Chancellor's Sunak announcement that the government will be borrowing almost 20% from the private sector in order to help the economy.
I will argue that this kind of policy never leads to prosperity as governments do not create wealth but only confiscate from one sector of the economy in order to give it to sectors that governments favour.
My conclusion is that fiat currency induced deficit spending by governments have never led any nation or country to the road to prosperity and that, in fact, it leads countries to ruin.
The Law by Frederic Bastiat: https://cdn.mises.org/thelaw.pdf
SUPPORT MANECO64:
Use promo code maneco64 to get a 0.5% discount on physical gold and silver bullion purchases at https://www.goldinvestments.co.uk/
GlintPay App, Save and Spend in Gold - Use referral code MarioGlint79
https://glintpay.com/
Teespring Store: https://teespring.com/en-GB/stores/maneco64
https://www.paypal.me/maneco64
https://www.patreon.com/maneco64
Crypto donations:
BITCOIN: 1AkNoKzbZXJ75BbeGkD2ekUDJQNWDrBgMA
BITCOIN CASH: qzfcsu05c9ephzv8qzl7ysvn4lfclzneescfhre4r5
BSV: qr20w4glrt5urr63c2xrqaxa3ken2qy5hqdxr3kv34
ETHEREUM: 0x990C216CE9218943307319D5F9DAd602A9A872DC
BAT Currency: Uphold a/c name maneco
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