An economics lesson

[Sanders]

A brief economics lesson. Somehow, they left out the politicians, banker, and lawyer which would have pretty much negated the value of the money exchanged.

G5Eu55BWEAAAAi0.jpg

[GimpyPaw]

It’s disturbing how accurate this is.

[Cujet]

Now introduce a 3% credit card fee for each transaction and before long Visa has all the money. In general it takes less than 50 transactions for all the money to be in Visa's pockets.

Fiat currency, however is the only currency that makes sense, as mankind now produces durable goods. In many ways this new. Start out with 10 ounces of gold, 10 families on an island. They reproduce, build homes for their children, cars, airplanes, TV's, home furnishings, gasoline, etc. In 100 years what is the value of an ounce of gold?

[GARANDNUT]

The problem is not so called "fiat" currency it is the fractional reserve banking system which is nothing more than a legal pyramid scheme. What to fix the economy, get rid of cheap credit and implement a flat tax capped at 10% with a 1% national sales tax.

[44044]

If taxes had been paid on each transaction

the .gov would have had it all by the time

it changed hands three times…

[Retvet]

It’s disturbing how accurate this is.

There's a Benny Hill comedy skit about the same thing