Are you inferring that this is sound practice and will work? You can't create actual productivity by printing money. It's an economic fantasy put in place by those that benefit most. As for fracturing that is going on regardless, just getting started.
Never said it was sound practice but yes, monetising debt is a way of cleaning house especially if done in agreement across to globe as to avoid a change in terms of trade. The bigger the debt that needs to be wiped out, the more inflationary carnage they will cause. The alternate is prices and wages go backwards while debt is fixed and ultimately you default and lose everything.
The confusion is actually due to no wage inflation. People see prices flying up and say it’s inflation but it actually isn’t that at all, it’s that your wages didn’t budge. The Debt used to send prices upwards is a liability and it is deflationary...... remember, right now we are fighting deflation, not inflation. All these high property values are caused by debt and debt is deflationary.
If they stopped accumulating debt and stopped printing, the system unwinds and prices deflate. This would cause your wages go down, unemployment to fly up, productivity to drop meanwhile your debt remains fixed and becomes more expensive to service and you default.
You are in the Bitcoin thread dude. Why do you think the world’s richest people suddenly decided Bitcoin was ok? It’s because they are trying to escape deflation today and front run the inflation out the other side.
The only option left is to print. It’s better it goes to consumers than to bankers. Given how far fucked we are now most likely we will experience 12mths of Hyperinflation in a short while. I wouldn’t be surprised to wake up one morning and all prices have added a zero, wages added a zero, debt remains as it was. That is a possibility, a one off large currency devaluation.
