tag:blogger.com,1999:blog-1892824566694270102.post1016605753619956259..comments2024-01-27T00:46:34.345-08:00Comments on How Fiat Dies: All you need to knowVincent Catehttp://www.blogger.com/profile/06502618776820144289noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1892824566694270102.post-24916090151443735232016-03-19T19:36:49.499-07:002016-03-19T19:36:49.499-07:00Certainly having a shredder could never count as a...Certainly having a shredder could never count as a "secret weapon". <br /><br />Vincent Catehttps://www.blogger.com/profile/06502618776820144289noreply@blogger.comtag:blogger.com,1999:blog-1892824566694270102.post-25218606809517628712016-03-19T19:33:04.076-07:002016-03-19T19:33:04.076-07:00I would also argue that making money disappear is ...I would also argue that making money disappear is not nearly as impressive a trick as making new real money. Anyone could have a shredder but only the Fed gets create new money without risk of going to jail. Making new money by the billions that actually works for buying things is a rather amazing trick. Shredding money is not a skill to mention on a resume. Vincent Catehttps://www.blogger.com/profile/06502618776820144289noreply@blogger.comtag:blogger.com,1999:blog-1892824566694270102.post-78682116066927181452016-03-19T19:26:55.575-07:002016-03-19T19:26:55.575-07:00While they have a shredder, in practice most every...While they have a shredder, in practice most every central bank increases the money supply every year. So while you are technically correct I would argue I have not left out anything actually important. :-)<br />Vincent Catehttps://www.blogger.com/profile/06502618776820144289noreply@blogger.comtag:blogger.com,1999:blog-1892824566694270102.post-8244818217352833042016-03-19T11:32:13.453-07:002016-03-19T11:32:13.453-07:00Actually they can also reduce the amount of money ...Actually they can also reduce the amount of money as well. They can also set reserve requirements (raise and lower them: essentially levy both positive and negative taxes), and pay (and charge) both positive and negative interest rates. There are other regulatory taxes: such as capital requirements.<br /><br />Now you could say that all that amounts to a printing press and a shredder. That's fair. But it's not fair to say they only use the printing press or only the shredder: they are clearly using both.Tom Brownhttps://www.blogger.com/profile/17654184190478330946noreply@blogger.com