Daily Archives: September 26, 2013

Why Understanding Fiat Currency Matters For Scientists: We Are Being Pitted Against Public Health

Cross posted from MikeTheMadBiologist.com

Because we’re being played off against food stamps by Republican congressmen:

We’re only asking for a 5 percent decrease [in SNAP] in a time of budgetary crisis, where this is being put up against funding the NIH for basic medical research, this is against putting money into defense.

But this is stupid, since it assumes the federal government can run out of money. It can’t, since it’s a currency issuer. Let’s work through a couple of thought experiments. First, the Mars rover (boldface added):

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