Anyone Have Problems with the Microsoft IT Outage?

[olkofri]

Slept through it. Ahh, the benefits of getting up at 1 PM.

*Alveric stifles a yawn

 

[sablebrush52]

Money issued without gold support is already s..t, because it allows the issuer of money to issue money without an economic activity that supports it and generates inflation.

More likely scenario, based on actual monetary practices:
Money gets created, and the supply grown, to target areas in the economy that need a cash infusion to grow, or at least, not collapse, as well as fund massive infrastructure improvement or maintenance. The money gets spread around, you know, pay checks, spurring economic activity. Then the increased activity gets taxed, pulling money back out of the supply. The money supply varies, depending on the perceived need.
But, I like the idea of gold backed currencies, which are limited in supply and can't be adjusted. Panics and depressions are character building. The Great Depression was lollipops and sunshine.
The popular saying is that governments tax so that they can spend. Actually, governments spend so that they can tax.