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U.S. trade deficit soars to $64B, highest in 12 years

Questerr said:
That's semantic bull****. There is no functional difference between me buying something with money via a debit card and buying it with money via physical cash.
Click to expand...

Please learn the ACTUAL difference between "money" and "currency". They are NOT the same thing.

To illustrate that point, let's look at this analogy.

Phantasia is a country where the annual GDP per person is Phan$10,000.

The Phan$ is currently valued at US$ 1.00 = Phan$1.00.

The Phantasian government thinks that it would be a good idea if their people had incomes of Phan$1,000,000 per year as that would totally wipe out poverty in Phantasia.

The Phantasian government, accordingly, prints one Phan$1,000,000 for each and every Phantasian and hands them out freely.

The Phantasin government announces that it is going to continue doing this until Hell freezes over.

EXAM QUESTION

If a Phantasian could purchase a loaf of bread for Phan$1.00 BEFORE the government started printing and handing out currency, what would they have to pay for a loaf of bread AFTER the government started printing and handing out currency?

[NOTE - There has been absolutely no change in the WORTH of the loaf of bread.]
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You are confusing "price", "value" and "worth". Money deals with "worth". "Currency" deals with "price".
 
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