What bothers me personally about the system is that it is not fair. When I am forced to participate in a system, it should at least be objectively fair.
One point of unfairness is that certain entities, and therefore people, are guaranteed a profit. This is not fair. I can't take loans from the central bank at 0%, why?
Saving is also no longer an option. That, I feel, is unfair. We have already taken risks to create the wealth and now we have to take even more risks just to keep the value of the money. Of course, The Bernank and his successors don't have to worry, they just increase their own salaries and retirements.
I actually like fiat money because it decouples resources from wealth. In an economy that increasingly depends on ideas, that is good.
It's the implementation which needs an overhaul before it destroys the entire world. I'm still connecting the dots in my head.
One point of unfairness is that certain entities, and therefore people, are guaranteed a profit. This is not fair. I can't take loans from the central bank at 0%, why?
Saving is also no longer an option. That, I feel, is unfair. We have already taken risks to create the wealth and now we have to take even more risks just to keep the value of the money. Of course, The Bernank and his successors don't have to worry, they just increase their own salaries and retirements.
I actually like fiat money because it decouples resources from wealth. In an economy that increasingly depends on ideas, that is good.
It's the implementation which needs an overhaul before it destroys the entire world. I'm still connecting the dots in my head.