Searching For Elusive 'Magic Money Tree'

Written by Swiss America

Money TreePrinting More Money Could Lead to Financial Calamity -Bonner/Bonner And Partners
"We're searching the woods, hills, and urban jungles for the coveted 'magic money tree.' For thousands of years, alchemists, grifters, and proto-central-bankers have tried to find it. But it has remained as elusive as the Himalayan snow lizard and the American jackalope. But it must be out there somewhere....The idea - given to us by David Graeber, Elizabeth Warren, Thomas Piketty, and a whole cast of MMT enthusiasts and half-wit hallucinators - is that money really does grow on trees. It is just a matter of political willpower, they say… even courage… to put it to use....

Sounds great, doesn’t it? Almost too good to be true. So, maybe some due diligence is in order…First, how is it that this magic money tree has remained hidden all these many, many years? That is, we know of no episode in history… even when people were starving by the millions and desperately begging for pennies…when the discovery of this magical tree solved the problem. Instead, they had to work their way out of every financial crisis....Second, there are many episodes in history when people thought they had discovered the wondrous tree… only to be rudely disappointed years later...Just because something never happened before doesn't mean it won't happen now...A printing press can produce all the currency with all the zeros you could possibly want. Currency is not money. It's only money if people are willing to trade their time and wealth for it. That'’s the trouble with hyperinflation - fewer and fewer people are willing to make the trade. Eventually, no one will. Then, the currency becomes worthless."

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