money press
suppose you and i own the federal reserve bank and control how much money gets printed each year. how much do we print? for the purposes of explanation, let's assume the return on printing money is limited to the 6% dividend discussed in yesterday's post. if we control less than 6% of the world's wealth, we print as much money as possible. it doesn't take very long until we own 6% of the world's wealth. if we own more than 6% then we don't print any money at all. the rest of the world works and builds and creates stuff. stuff with value. that we buy for dollars. eventually they whittle our share of wealth down to below 6%. at which point we start up the presses. the economy is stable. which is a valuable thing. is it worth giving up 6% of everything to an elite few who do nothing? apparently it is. but we should be thinking about it.