Is this a wonderful or a dangerous idea?
A country Fairyland prints F$1 billion. (One Fairy dollar, F$1 = US$1). It exchanges the money for US$1 billion and buys a $1 billion property in Washington D.C. Now the government of Fairyland has become rich just by printing money. And it repeats this many times. Just by printing money, it owns trillions worth of properties in many countries round the world.
What happen to the trillions of Fairy dollars? The people from the other countries use these to buy up properties in Fairyland, driving up a huge property boom. The rich people in Fairyland are happy as they see their properties rise 10 times in value.
Is this happening only in Fairyland?
Some people are saying that a universal basic income can be funded by just printing money. It is beginning to sound like a good idea.
A country Fairyland prints F$1 billion. (One Fairy dollar, F$1 = US$1). It exchanges the money for US$1 billion and buys a $1 billion property in Washington D.C. Now the government of Fairyland has become rich just by printing money. And it repeats this many times. Just by printing money, it owns trillions worth of properties in many countries round the world.
What happen to the trillions of Fairy dollars? The people from the other countries use these to buy up properties in Fairyland, driving up a huge property boom. The rich people in Fairyland are happy as they see their properties rise 10 times in value.
Is this happening only in Fairyland?
Some people are saying that a universal basic income can be funded by just printing money. It is beginning to sound like a good idea.
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