Analysis Of The Greenback

978 Words 4 Pages
The “greenback” is a fallacy printed on a piece of paper and cloth that holds no actual monetary value. Societies created currency to serve as a medium of exchange, hoping that this one, uniform currency would hold a constant value. The truth is it’s not logical to create an infinitely printable version of a finite source; it is irrational to assign value to a piece of paper or a hunk of useless metals. Evidence lies in the past, The German mark was once so worthless due to over printing that the Germans burned it to stay warm through harsh winters. Even the American dollar today has suffered inflation so severe that a can of coke that would have cost five cents in 1959 now costs 30 times that amount. Sure, money is convenient, but it has also …show more content…
Now, that coin is worth one dollar, that’s a pack of gum, a juice box, an off brand soda, even a bland fast food chain taco, right? Wrong, that shiny hunk of gold-plated lies is worth about 5 cents at its melted value. That dollar coin is so worthless because the metals inside are rubbish and the printed version is of no value for much the same reason. For an example, let’s take a look at Germany, more specifically post WWI Germany. In the Treaty of Versailles (1921), Germany agreed to pay war reparations in the amount of 269 Billion gold marks, which was later deemed excessive and reduced fifty percent. However, to pay this massive debt, the German government at the time decided to print Marks anywhere they could (Publishing firms, printing presses, etc.). To meet the requirements of the treaty, the German government depreciated the value of their own money and threw themselves into an economic crisis. The German Mark stood for a mark of gold (roughly eight ounces) which is all fine and dandy until they started to print bills for gold they didn’t have to back it. Societies everywhere do the same every day when they print money that has no backing. Governments everywhere create money to fund …show more content…
How can you have a government without money? The answer is clear and concise; governing officials would no longer be hired on a salary, instead they would be paid in food for their families and even housing for them to stay in. I would even go so far as to argue that incumbents hired under these pretenses would be less corruptible and more morally driven. Government owned mines and farms would bring in the precious metals, livestock, and crops needed to feed and fund a needy society. Farm workers in my utopia are given housing, precious metals, and are guaranteed a percentage of food from the farm, and miners are offered a similar bounty of housing, food, and are given a certain amount of precious metals as well. Food and precious items flow into the economy through trades, a few ounces of gold for a plot of land, or food to last your family a

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