–“How can a government, that’s $28 trillion in debt, spend trillions of dollars that it does not have? Well, one major way is the Federal Reserve creates money-out-of-thin-air and then ‘loans’ it to the government by buying the government’s bonds.”– Ron Paul
1) What right do savers have to the preservation of the purchasing power of a fiat currency?
2) What right do lenders have to the preservation of the purchasing power of debt+interest?
If these gains are obtained at the expense of supply.
4) Why does anyone have a right to produce an artificial scarcity?
5) the only answer to this question is:
… a) contractual frictions created for business velocity (production cycles),
… b) friction on the ability to save for retirement.
So 6) Is (a) true? And can (b) be solved?
Science not philosophy, ideology, or sophistry.