Poverty amidst plenty – The birth and death of money
by Alain Pilote
Posted June 15, 2017
The first idea that we keep alive in our minds, without really realizing it, is that there is one fixed quantity of money, and that it cannot be changed; as if it was the sun, or the rain, or the weather. This idea is utterly wrong; if there is money, it is because it was made somewhere. If there is not more, it is because those who made it did not make more.
Another prevalent belief about the origin of money is that the Government makes it. This is also incorrect. The Government today does not create money, and complains continuously about not having any. If the Government were the source of money, it would not have sat around idly for ten years in front of the lack of money. The Government takes and borrows, but it does not create money.
Now, we will explain where money begins and ends. Those who control the birth and death of money also regulate its volume. If they make much money and destroy little, there is more. If the destruction of money goes faster than its creation, its quantity decreases. More…