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Counterfeit money
FDR, who only pulled the U.S. out of that Depression with a war boom, World War 2, plus a lot of government counterfeit money and spending that money to make jobs, and finally it took a war to really do the trick, spending millions of Dollars on war materials and on war.
--Which was only millions of Dollars in those days, but it's up to billions now! Now the debt is 18 trillion!
The U.S. doesn't even realise that it now owes most of its furture to the east! China hold 1.3 trillion and Japan hold 1.2 trillion. Its trade with the East far surpasses its trade with the West and Europe, but most Americans are still living in the past, they still think Europe is it! They don't realise that the preponderance of U.S. trade is now with the East.
Public resistance to cashlessness, rather than delays in technology, explains the slow trend. The public has read George Orwell's 1984 and Aldous Huxley's Brave New World, with their nightmarish visions of the future, and has resisted the technology and has been leery of the possibilities implicit in such a system. Still, recent polls suggest that the consumer's slow acceptance is a thing of the past. Meanwhile, technological advances have continued at a staggering rate.
Ted Rudow III, MA
The U.S. doesn't even realise that it now owes most of its furture to the east! China hold 1.3 trillion and Japan hold 1.2 trillion. Its trade with the East far surpasses its trade with the West and Europe, but most Americans are still living in the past, they still think Europe is it! They don't realise that the preponderance of U.S. trade is now with the East.
Public resistance to cashlessness, rather than delays in technology, explains the slow trend. The public has read George Orwell's 1984 and Aldous Huxley's Brave New World, with their nightmarish visions of the future, and has resisted the technology and has been leery of the possibilities implicit in such a system. Still, recent polls suggest that the consumer's slow acceptance is a thing of the past. Meanwhile, technological advances have continued at a staggering rate.
Ted Rudow III, MA
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Money is strange stuff, essentially whatever people decide (whatever their culture decides) is money is money. In some times and places, that could be cowrie shells. In others, large stone disks with holes through them that aren't moved about; just kept track of who owns what share of which disk.
There is NO "real" money. It is always social convention.