Forum Post: Burn Money?
Posted 12 years ago on Oct. 24, 2011, 5:06 p.m. EST by Tikimaniac
(1)
This content is user submitted and not an official statement
I'm curious on everyone's thoughts.
My knowledge of economics is nowhere near expansive so this idea may be radical.
But here's the idea.
Assuming that the value of our money is correlated to the amount of money in circulation and values of debt in banking.
Would Destroying, say half, of the amount of money in circulation increase the value of our money by two?
If so then wouldn't a solution be a demand of the 1% to destroy a majority of their money?
Obviously this is not an easy suggestion. But say the 1 % destroys just enough money for the value of our dollar to increase while maintaining enough money for them to survive just like us, is that not an easy way to reach monetary equality?
Again i'm not extremely informed on economic workings. so, please let me know what everyone thinks about this or what kind Pro's, Con's, and effects this kind of hypothetical strategy would have on our economy.
THX!
There's far far more money kept electronically than in actual paper notes. I don't think you could even make a dent.
its a felony to destroy currency. besides I aint got none.
how about no. the amount of cash in circulation is ridiculously low compared to the total amount of currency out there. for every $1 bill there is $90 not in circulation as bank accounts, savings accounts and other investments.
Please, feel free to start us off.