Money

What gives money value?

It has usefulness. This too is printed on every usa bill. This note is legal tender for all debts public and private.

Let's break that down.

This note = this bank note money which was created from bank asset acquisition ( effectively meaning loaned into existence )

Is legal tender = must be accepted as payment

For all debts public = taxes

And private = all debts other than taxes.

So, if we all suddenly think money is worthless and start throwing it on the ground, some people, who have debt or owe taxes would come pick it up so they can use it to pay off those debts and taxes. Heck, they might compete with each other to be first to sweep up the worthless money. They may even offer us stuff in exchange for that worthless money before we throw it on the ground....which, as long as there is enough demand to pay taxes and repay debt, money isn't worthless.

Countries that experience run-away inflation due so because they put too much money into the economy without raising taxes or raising interest rates to create demand for money.

Taxes are evil, theft, unfair???

Wrong. Taxes are necessary to give money value and allow for the proper functioning of the economy.

Simple, mostly correct answers, slightly wrong answers:

Money is other peoples' debt.

Money is created when it is borrowed into existence.

Money has value because it can be used to repay debt and to pay taxes.

Slightly better answers:

What is money? How is it created?

Our money is "bank note money". Look at any usa bill and it will say Federal Reserve Note. Bank note money is created whenever a bank puts an asset on its balance sheet. That asset could be gold, could be real estate, could be certain mutual funds, could be other non-perishable commodities such as diamonds, oil, silver....

If a bank wants to buy real estate, gold or loans, it literally creates money out of thin air, and uses the money to buy the asset, proof, money is created.

However, 98.5% of the assets on bank balance sheets are loans. If a bank issues a loan, poof, money out of thin air is deposited into a checking account, so 98.5% of money is other peoples' debt.

Oh, and coins. Government just presses coins and spends them into the economy without offsetting bank asset.... but that is less than 0.001% of all money so can be ignored.

Not so sure where it comes from but I sure like collecting it

AZCOUPLE----->Then you ask me what I am going to do about the 68T buckets of dirt sized hole on my property. I guarantee that you are not going to like the answer! Go to my post about money and answer those 3 super simple questions, and we can really start to have this conversation! Until then, this is all emotional fear mongering intended to confuse, distract and misplace blame!

I do love consistency. Mine was a simple observation. As important as the debt is, a total of 20 candidates were neither asked the question or brought it up on their own. The consistency part? LMAO whenever the debt is brought up around these parts the typical response is a long professorial response about buckets of dirt, the numbers of banana's in the world and their impact on banana futures or the phase of the moon's impact on the price of gold. Generally followed by........."let's have a discussion".

Let me shortcut the 50 or so exchanges we and others may have about your three questions. If you have the answer about why they weren't asked and more importantly the bonus question about debt...........how about you just state it. Wouldn't that be easier? And just for consistency I'll cut and paste this into your money thread.

What is it?
How is it created?
What gives it value?

Everyone loves money, uses money, but of so few actually have a clue as to its nature.