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Why can't we own a money-generating machine at home?
It is a stupid question I know. But I need to know just what are the causes and effects if it is possible of anyone owning a money-generating machine at home? Will it cause inflation or deflation? What is going to happen to the world?
2 Answers
- Anonymous1 decade agoFavorite Answer
It is not stupid at all. Until the civil war, anyone could make their own currency, and many people did. There were about 500 banks in the state of Missouri alone that made their own currency. Often, stores priced their goods in the local currency, as well as others. A currency was highly valued if there was trust in the bank that issued it. Other currencies would loose value overnight if the bank failed.
- Anonymous1 decade ago
The value of the dollar would plummet if everyone could make their own money at home. Inflation would skyrocket.