Comments by "" (@foxmoongaze) on "The government can never run out of money" video.

The government spends, but the public pays the bill. History shows all fiat currencies eventually become worthless or nearly worthless. Governments and fiat currency are a bad combination as politicians can't resist spending more and more, borrowing currency into existence and inflating the supply. Inflation is debasement of a currency and we rarely to never see deflation with the GBP has losing about 98% of it's purchasing power since the early 1970s.
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@Wulfuswulferson Indeed, tax, tax and more tax. Inflation is a tax on anyone holding fiat currency, and conveniently a way to effectively reduce a debt burden.
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@debbiegilmour6171 I did not "talk like tax is a bad thing", I think you've made that up to make a point. I do think too much taxation is a bad thing, especially to cover wanton and thoughtless spending by government. Some tax has to be collected to pay for administration, defence of borders, and public services - how much of this we need, and how big government should be to achieve this, is a complicated subject, but probably has an answer of less and smaller than now.
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@tancreddehauteville764 Resetting the pound 1 for 10 would signal a failing GBP to the world, and not change behaviour, in fact it would probably speed subsequent spending and inflation. Other currencies in Zimbabwe, Argentina, Venezuela, Weimar Germany etc have taken the same path to currency destruction....
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@clementattlee6984 I did not say fiat currencies ARE worthless, I said they are BECOMING worthless. All fiat currencies are falling, compare them to real assets like property or gold. My parents house has increased about 40 times it's 1974 value, mostly because the GBP has lost value, not because the house has improved.
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@Vroomfondle1066 We were actually talking about money, and the purchasing power of the GBP has lost about 98% of it's value in the last 50 years, nothing Draconian about it. Wages rarely keep up with the true inflation and savings never do. Needing to receive (and fight for) pay rises just to maintain ones standard of living is not a good way of life or an indication of a healthy economy.
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