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- #41
People also want it to pay taxes. Here is a lecture by Randall Wray where he talks about the history of taxes, which create a demand for a particular currency:You are indeed correct money is a means of exchange. You are indeed correct that money existed before the government monopolized issuing the currency known as the USD. You know why people want the worthless USD, just like the worthless euro? Taxation. After all, a government has to spend before it can tax its own currency. ...Huh? Ridiculous spending? Elaborate on that.Wrong and wrong. Money is a means of exchange. It existed before government took it over. A tax obligation has nothing to do with the value of money, other than the fact that governments want to have the power to debase the currency as a means to pay off their ridiculous spending and borrowing.What are you rambling about? Money is a way governments can obtain resources to do its duty. A tax obligation gives money value.Seems weird to have a theory of money when one doesn't even know what money is.You tell me.
No, the only reason people want is the fact that they need a medium of exchange and government has outlawed any other mediums of exchange aside from the one it issues. Government has enforced a monopoly on currency so it can loot all of us whenever it wants.
Yes, the government is looting the currency that they spent before they began taxing.