Money itself is a ponzi scheme, the gold standard was fake as well, what gives gold value? It is a shiny metal that looks nice I guess. You could substitute anything that is rare for gold. Gold is worthless and has been for a long time. Money has value because you can buy things with it. The US economy is not a Ponzi scheme. Ponzi schemes are run by people who steal money. The government can create money that has value any time they want and they do an excellent job managing the money supply.
The US has the strongest most powerful economy in the world because of the Federal Reserve and because we have the smartest workers in the world working here. That will not change for decades. The US rules the world and we have no competition and it is not even close.
Adept_Particular_274 t1_jabu4zf wrote
Reply to comment by NagatoKami in The bearish arguments of 1907. Swap earthquake with covid and many of these points could be recycled today by CreepingFog
Money itself is a ponzi scheme, the gold standard was fake as well, what gives gold value? It is a shiny metal that looks nice I guess. You could substitute anything that is rare for gold. Gold is worthless and has been for a long time. Money has value because you can buy things with it. The US economy is not a Ponzi scheme. Ponzi schemes are run by people who steal money. The government can create money that has value any time they want and they do an excellent job managing the money supply.
The US has the strongest most powerful economy in the world because of the Federal Reserve and because we have the smartest workers in the world working here. That will not change for decades. The US rules the world and we have no competition and it is not even close.