On 10/21/2013 12:51 PM, H Veeder wrote: > > Instead of being a cash transfer, basic income would work like a > decentralized mint, where individuals would be ascribed the power of > limited legal tender creation. > > harry >
Printing money is no different than if every person had a tax placed on all of his available cash. Let say, for example, that there is $100 total in circulation in society. Then if I print another $100 and start spreading it around to people to use; then everyone who does not receive a portion of the new $100 that I printed will find that the money they have will not buy as much, because the new $100 will be spent into society and will bid up the prices. Money is not wealth. Wealth is the goods and products that people create; and the services they provide. Craig
