+53
If you burn money, you make yourself poorer, but you make everyone else a tiny bit richer, amirite?
by Anonymous4 years ago
Not if you burn someone else's money.
by Anonymous4 years ago
True, i should've specified your own money. My bad
by Anonymous4 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 Anonymous4 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 Anonymous4 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 Anonymous4 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 Anonymous4 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 Anonymous4 years ago
Then how do we have deflation?
by Anonymous4 years ago
False
by Anonymous4 years ago
Jeff just burned $100! We are all .0000000000000000000000000000000000000000000000000000000000000001 cents richer!
by Anonymous4 years ago
Why
by Anonymous4 years ago
So THATS what the Joker was doing...
by Anonymous4 years ago
Not how that works
by Anonymous4 years ago
Why not?
by Anonymous4 years ago
Quantitative theory of money well applied!
by Anonymous4 years ago
Is this why we read "Into the Wild" in school? Probably, I went to a city school.
by Anonymous4 years ago
Except for the government - they burn other people's money while making themselves rich.
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