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If you burn money, you make yourself poorer, but you make everyone else a tiny bit richer, amirite?

97%Yeah You Are3%No Way
cjcusacks avatar Money & Economics
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Not how that works

Except for the government - they burn other people's money while making themselves rich.

Not if you burn someone else's money.

@Thenaturelover Not if you burn someone else's money.

True, i should've specified your own money. My bad

cjcusacks avatar cjcusack Yeah You Are +2Reply

False

@Highvaluedaygame False

Jeff just burned $100! We are all .0000000000000000000000000000000000000000000000000000000000000001 cents richer!

Is this why we read "Into the Wild" in school? Probably, I went to a city school.

Quantitative theory of money well applied!

So THATS what the Joker was doing...

Banks destroy bills regularly. Except they get their money back when they do it, and the government eventually prints more anyway. You are just a guy holding a pile of ashes if you do it.

88080808088s avatar 88080808088 Yeah You Are +1Reply
@88080808088 Banks destroy bills regularly. Except they get their money back when they do it, and the government eventually...

When money is takin out of circulation, it makes the remaining money more valuble. Granted, the difference it makes is negligible at best, but it's still there.

cjcusacks avatar cjcusack Yeah You Are +5Reply
@cjcusack When money is takin out of circulation, it makes the remaining money more valuble. Granted, the difference it makes...

No. Money has a set value that does not change in relation to how many other pieces of currency exist.

Inflation/deflation affects the price of goods not the value of the money used to purchase them.

@The-Merciless-Potato No. Money has a set value that does not change in relation to how many other pieces of currency...

Money's value is based on how many goods/services it can buy. With less money in circulation, the buying power rises because people have less money to spend

cjcusacks avatar cjcusack Yeah You Are +1Reply
@cjcusack Money's value is based on how many goods/services it can buy. With less money in circulation, the buying power...

You're making the assumption that there is a finite amount of money (wealth) in an economy and that removal of some increases the value of the rest.

However, there is NOT a finite amount of money/wealth so losing some has no effect on the rest.

BTW, this is also why "wealth redistribution" is such a con. When someone makes more it does not, of necessity, mean that someone else now has less.

Spliffkillahs avatar Spliffkillah Yeah You Are +2Reply
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