Why can't we just print money to pay off debt??

[Muhammad Hamdan 697]

Have you ever wondered why poor countries can't just print more money to pay off their debt or to feed there homeless or fix unemployment?

This might seem like rather a silly question, but short answer can just be summed up in just one word "Inflation".

But in today's modren world where cryptocurrency is most likely to replace Fiat money, i think it would be really better for underdeveloped countries to at least  establish their own cryptocurrency just like China did.( i know China isn't under developed lol)  but it is very much possible  for them to raise their lower class people and bring prosperity.

If you want to know more please drop like and follow for constructive posts like ths. 

[Migo 7946]

Print money?? Are you serious?? The economic system will be destroyed of course, the right example of this is Venezuela, when their currency destroyed, it was catastrophe, I will give a picture where you can understand that a huge amount of money is only worth 1 chicken.

Thus is why money printing is not good for any country 

[Honny143 13612]

3 hours ago, Migo said:

Print money?? Are you serious?? The economic system will be destroyed of course, the right example of this is Venezuela, when their currency destroyed, it was catastrophe, I will give a picture where you can understand that a huge amount of money is only worth 1 chicken.

Thus is why money printing is not good for any country 

You give good explanation bro Venezuela government thinks when they print too much currency they solve the peoples problem in short time and their peoples become rich but they don't know when supply increase demand decrease so their currency price down in the market now they have too much currency in their country and they can't spend this money 

[Jeet Narayan 1940]

Too much money printing is not good for any country because too much money make that country more poor. Now some websites bringing their debit card and slowly slowly Crypto replace Fiat money.

[kyoukage01 3181]

The advantage of using existing crypto coins, especially the already established decentralized ones, over creating new government-issued coins, is that the existing ones already have value, not only in one country, but worldwide as well. And there is the lingering threat that the government-issued ones will not prove to be popular enough to the masses to continue being supported and end up as being another worthless shitcoin.

 

@Migo's post gives quite the dramatic flair to what happens when you try to print too much money.

 

Here's an example of information of what happens when a government tries to issue its own cryptocurrency but fail:

https://en.wikipedia.org/wiki/Petro_(cryptocurrency)

And guess what? That Petro was issued by Venezuela too.

 

Edited February 6, 2020 by kyoukage01

[Afrizal rahman 2636]

Yes, if there is no inflation, every country can print money continuously so that the people do not become poor, but we cannot do all of that because they are blocked by inflation. If we look around that the presence of Cryptorency could have helped the country's economy, as you said that the Chinese people have created their own Cryptorency to regulate their economy.

[gigabyteRTX 1583]

Well, you do have a point but I think a country that will launch its own currency is a big challenge because it might fall because of lack in certain things, to fully grasp the cryptocurrency they need first to accept it and adopt it in order for them to make their own currency.

[kare 105]

On 2/5/2020 at 2:30 PM, Fuad Simon said:

When a whole country tries to get richer by printing more money, it rarely works. Because if everyone has more money, prices go up instead. And people find they need more and more money to buy the same amount of goods.

This happened recently in Zimbabwe, in Africa, and in Venezuela, in South America, when these countries printed more money to try to make their economies grow.

As the printing presses sped up, prices rose faster, until these countries started to suffer from something called “hyperinflation”.When a whole country tries to get richer by printing more money, it rarely works. Because if everyone has more money, prices go up instead. And people find they need more and more money to buy the same amount of goods.

This happened recently in Zimbabwe, in Africa, and in Venezuela, in South America, when these countries printed more money to try to make their economies grow.

As the printing presses sped up, prices rose faster, until these countries started to suffer from something called “hyperinflation”.

 

Source: http://theconversation.com/curious-kids-why-dont-poorer-countries-just-print-more-money-107633

Yeah you are very correct my Friend many persons thought by just printing money thing's will get better the fact is it will make thing to worst as price of commodity will go up and up causing inflation.

[rekter 8129]

On 2/5/2020 at 3:25 PM, Muhammad Hamdan said:

Have you ever wondered why poor countries can't just print more money to pay off their debt or to feed there homeless or fix unemployment?

This might seem like rather a silly question, but short answer can just be summed up in just one word "Inflation".

But in today's modren world where cryptocurrency is most likely to replace Fiat money, i think it would be really better for underdeveloped countries to at least  establish their own cryptocurrency just like China did.( i know China isn't under developed lol)  but it is very much possible  for them to raise their lower class people and bring prosperity.

If you want to know more please drop like and follow for constructive posts like ths. 

On centralized government cryptocurrencies there's really nothing preventing whoever controlling it "printing" more and inflate the price, just like in fiat currencies so i don't get what's the fuzz about those. Only thing that matters are truly decentralized cryptos that aren't controlled by governments.

[talo122 735]

Printing money is not a simple process, to print a single paper you should have it is value in gold or us dollar to cover it, and any money that is not backed by gold or dollar it will hart the econumey very bad. 

[Maaz sultan 265]

On 2/5/2020 at 8:11 AM, Badman001 said:

Yes if we print money and government detect us surely we go in jail for a long time .

I think producing fait money government should be realised their own cryoto currency as a digital currency and there is not any need to print it .

Yes you are right about if we print money them the government will put us in the jail because their some causes that many people are printing the fake money .

[KURTAULI 1297]

The state does not print a lot of money because if printing more money will increase inflation and will make the value of the currency diminish so much that affects the market economy and supply.

[Rickso 768]

On 2/5/2020 at 2:25 PM, Muhammad Hamdan said:

Have you ever wondered why poor countries can't just print more money to pay off their debt or to feed there homeless or fix unemployment?

This might seem like rather a silly question, but short answer can just be summed up in just one word "Inflation".

But in today's modren world where cryptocurrency is most likely to replace Fiat money, i think it would be really better for underdeveloped countries to at least  establish their own cryptocurrency just like China did.( i know China isn't under developed lol)  but it is very much possible  for them to raise their lower class people and bring prosperity.

If you want to know more please drop like and follow for constructive posts like ths. 

easy life, you print an infinite number of money and you become rich. why hasn't anyone thought of this before?

 

if you keep printing money their value become less and less, so at some point will be worth 0 like the monopoly money

[Nickibae 130]

 Well I don't think it's up to us to decide that we can't print our own currency to pay debts because we don't have such means and we don't have such authority to do so 

[deepown 0]

Because to print money there should be a backup normally gold, but also money is printed by the world Bank.

[Interface User 1070]

I think that type of strategy may be failed because printing too much money may become a way to increase the value of the goods so the result the printed money is worthless. Like example you bought 6 eggs using your 100,000 Dollars.

[Rahul21 626]

We need to debit the money because we, however, are not able to trade cryptocurrency money through debit card in our country, and if this system is introduced soon then I think that by debit our money will be very easy.

[Opinder 1310]

I do not think there would be any benefit of printing or issuing more currency. Because if you have more volume of currency then its value downs and total value remained same as before. Thus inflation takes place. If any country creates its own coin then also its supply should be fixed. Otherwise it would devalue the currency.

[Rizwanch99 22]

 The economic system will be destroyed of course, the right example of this is Venezuela, when their currency destroyed, And there is the lingering threat that the government-issued ones will not prove to be popular enough to the masses to continue being supported and end up as being another worthless shitcoin.

[miskyming 1588]

so you mean one of the poor countries should make their own cryptocurrency so that they can pay their debt? I don't think so..  I don't think if this is good solution for those poor countries. It is like they printing money in a virtual way.. this is not good idea if they do that.

[tienda 8776]

There are many countries where they failed because printing too much money, but all depend about the management of the country economy, generally this thing happen on those poor countries.

 

 

[babaji 1228]

I believe there has to be a balanced in everything. But we dont know the ledger books of most governments. I am already of the opinion that they have printed way more than they are suppose without any tangible backing. And I m not being discriminatory, as I believe almost all countries are doing it, and that's why all the people are shifting to crypto. 

[Raouf99 73]

On 2/5/2020 at 6:25 PM, Muhammad Hamdan said:

Have you ever wondered why poor countries can't just print more money to pay off their debt or to feed there homeless or fix unemployment?

This might seem like rather a silly question, but short answer can just be summed up in just one word "Inflation".

But in today's modren world where cryptocurrency is most likely to replace Fiat money, i think it would be really better for underdeveloped countries to at least  establish their own cryptocurrency just like China did.( i know China isn't under developed lol)  but it is very much possible  for them to raise their lower class people and bring prosperity.

If you want to know more please drop like and follow for constructive posts like ths. 

This is a difficult question that you have asked bro. But i am solving this.

[ram007 391]

how nice this idea was but unfortunately,it is impossible.we cannot print money to pay debt because there are legalities and process from the national treasury that we need,and if we print more money,the value of money will decrease and the value of a product will be expensive.

[Sid 589]

I don't think it's easy to make a cryptocurrency that can support a country. Because the condition of a country is somewhat complicated and many factors influence it. For the question why can't we just print money to pay of debt? in my opinion because every money must be supported by an asset, so it should not be arbitrary to be made.