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this post was submitted on 17 Jul 2023
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Asklemmy
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Randomly spawning lots of money
How to: get kidnapped and imprisoned for life by a cartel.
I would absolutely keep it a secret, so not a problem
Yeah, until it happens out in public and suddenly there are huge piles of cash surrounding you.
Exactly, you can't control when it happens. So hello spawning thousands of bills at the local swimming pool.
Just only ever go to private resorts or places where everyone is richer than you anyway
Randomly spawning money directly in my bank account
Monkey paw: your account gets flagged and eventually you go to jail
Andrew Bailey, governer of the bank of England, actually has this super power and why inflation is running away in the UK. Turns out spawning lots of money has ramifications elsewhere. Can I argue the Bitcoin creator had this super power too? No, fair enough
A bit, yes, definitely, but that's been going on since 2008, and inflation is running away now because the energy generators got heavily on the iTs wArTimE bandwagon and saw that they were getting away with it. Other companies got in on the same act and corporate profits have never been so high, ever.
Quantitative Easing is why the stock market didn't crash early and often and the gap between rich and poor got much, much wider.
So the Bank of England in my view enabled crisis inflation a bit, but it was the energy generators that really pushed the economy into maximum fleece the little guy mode. Raising interest rates won't fix it because disposable income isn't the problem. It's rampant profiteering that's the problem.
This guy has it firgured out.