Do You Think Govement Should Legalise Currencey Printing For All Needy People To Prevent Crime ?
October 3, 2011 1:51am CST
I m from India ............ These days I m reading in news paper Indian goverment expressing its genuine unability to control terrorism ,corruption,naxalism and inflation for many reasons....... People of India are embaressed by Indian goverment ......since on most problems our goverment says we cant do that for many reasons......... On uncontrolled inflation our goverment says it will increase further and hence crime and naxalism is steadily increasing to shocking levels Do you think such goverments which are unable should better legalise currencey printing to control crime and prevent any revolutionary movement like naxalism ? Hare Krishna Ganesh
3 Oct 11
Hmm.. It made me pause for a while to think if you're actually joking or is it for real. :) You can't do that friend, currencies are not there because you just want to print money. These bills have an equivalent value in gold. The government can't just print, they have to have the capacity to pay each bill. Now if the government cannot stop currency printing, the value of your money would no longer be equivalent to your value in gold, this will cause your currency to plunge (devaluate) thus creating more problems for you, the poor and the government. If such a case would not be stopped, trade and commerce with outside countries would be stopped since your money would no longer good enough to purchase anything (over supply of bills that have no equivalent value to gold reserves). So, I don't think it's wise to tolerate currency printers. It doesn't help the economy at all. Have a great MyLot experience ahead!
3 Oct 11
See I m trying to find some solution to serious problems which our government has been tackling for long without any satisfactory solution..... I know government can only print as much currency equivalent to gold it possess....... But why our government is expressing genuine inability to control serious problems......pending for long .......giving lot of reasons....... I meet most people angry with our goverment If our goverment is unable with huge powers in hand why not it release just one power to only needy that's to print currency for themselves with pre conditions....... This will prevent those dying of hunger to join criminal and naxal groups ....... Hare Krishna Ganesh
3 Oct 11
That's a real good way to cause hyperinflation/massive currency devaluation and the mother of all economic collapses, with a resultant huge increase in crime, because nobody can afford to buy food or fuel. This has not discouraged the central bankers in Europe and the US from doing it though. Read about what happened in Weimar Germany in 1923 and also recently in Zimbabwe, when the money printers went too far......