Creating money

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Dear Editor,

Money has generally been created on the backs of the hard working people but now it seems there are many ways to create money. 

Of course, Banks have been the main way because they could always lend out many times the amount of money they had in their coffers and charge interest for it. 

Now we have the Bitcoin currency which is valued at one trillion dollars plus and of course, there are a half dozen other Crypto currencies that have started up. 

Then we have the Stock Market that can make billions overnight and sometimes lose just as fast. 

Now Trudeau and Biden have learned that you can print money when you need it. 

Biden just wrote a cheque for about a two trillion dollars and he probably will have to write a few more before the pandemic is over. 

Trudeau is just a small player, as he has only written a few billion so far. Now people are worried that it’s going to be our  grandchildren’s grandchildren that will have to pay this off. 

Why should anybody have to pay off something that was created out of “thin air”?  Pay it back with the same “thin air”? 

Maybe if we are able to get some smarter people in Ottawa, they will figure out that they need to print the money to run our infrastructure on!

 

Robert Blagen

Youngstown, Alta.

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