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IPFS News Link • Economy - Economics USA

They Can Always Print More Money But We Can't Print More Time

• https://www.zerohedge.com, by Charles Hugh Smith

"No matter how much money I make, they will always print more. I can't print anymore time."

The source of this quote is correspondent T.D., who shared the story of an acquaintance of his who was offered a high-paying and very demanding corporate position that would have left him nominally wealthier in terms of money but much poorer in terms of time and energy remaining after trading away the bulk of his time and energy for the higher pay.

The acquaintance turned the position down and cut the number of hours he was working, with this explanation: "No matter how much money I make, they will always print more. I can't print anymore time."

The point here is that central banks and state treasuries can always print more money, a process which reduces the purchasing power of the money they've issued. We can trade more hours for more money, but this extra money buys less.

No matter how much more of our time we trade for more of this created-out-of-thin-air currency, we will never be able to overcome their power to create near-infinite currency, which put another way is the power to devalue the money we trade our time for and thus devalue our time.

This is an asymmetry that should inform our decisions going forward: They Can Always Print More Money But We Can't Print More Time.

In other words, they can devalue the money we trade our time for at will but we can't create more time.

As catalogued in the monumental history, Global Crisis: War, Climate Change and Catastrophe in the 17th Century, the history of governments' response to crisis is depressingly repetitive: virtually without exception, every government devalues its currency in response to the soaring costs of conflict (and placating elites) and the concurrent plunge in tax revenues.


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