+53 If you burn money, you make yourself poorer, but you make everyone else a tiny bit richer, amirite?

by Anonymous 3 years ago

Not if you burn someone else's money.

by Anonymous 3 years ago

by Anonymous 3 years ago

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.

by Anonymous 3 years ago

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.

by Anonymous 3 years ago

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.

by Anonymous 3 years ago

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

by Anonymous 3 years ago

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.

by Anonymous 3 years ago

Then how do we have deflation?

by Anonymous 3 years ago

False

by Anonymous 3 years ago

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

by Anonymous 3 years ago

Why

by Anonymous 3 years ago

So THATS what the Joker was doing...

by Anonymous 3 years ago

Not how that works

by Anonymous 3 years ago

Why not?

by Anonymous 3 years ago

Quantitative theory of money well applied!

by Anonymous 3 years ago

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

by Anonymous 3 years ago

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

by Anonymous 3 years ago