I'd like to point out (in addition to the information on the link that follows) that a great majority of our money today in circulation (M2) is not 'paper' money at all, but rather data in digital form in computers in the banking system. I like to play a video game a few times a month. I call it 'paying bills'. I make the numbers in my bank account go down, and the numbers in the businesses and gov'ts go up so I can eat, live in a warm home, have a car, provide education to my children, etc.
Wednesday, January 5, 2011
Is it Constitutional for Congress to print money?
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Share your unique economics experiences. What did you have to give up to gain that which at the moment seemed so necessary to you? Imperfect information spanked you and now diminishing marginal utility smacks you upside the head, eh?