Meg Lee Chin

The cat's out of the bag...

For years the government has complained that there's no money in the piggy bank.

But the game is up, for COVID has revealed that just like Dorothy in the Wizard of Oz, we've had the power to access plenty of money all along. For the bank of England is now printing money from thin air like never before in history.

The pandemic has posed an interesting balancing act for governments. After all most countries are in the same boat and printing at unprecedented levels. This has prevented the loss of confidence in any one currency as we are all pretty much in the same boat.

Few realize that our "fiat" money system is merely an abstraction based on confidence. A pound, dollar, or yuan will only buy what everyone thinks it's worth. Hence the only constraint to what government can print is what the market will bear before everyone else loses interest.

For when there's too much money chasing the same amount of goods and services, the prices go up. This is called inflation and if it goes too far, everyone loses confidence in your money. This prompts a downward spiral of disinterest leading to a devalued currency.

But today we are in unknown territory. Things could go in any direction. As such We the People have a once in a lifetime opportunity to demand that we don't "bounce back" to the same inequality and nearly perpendicular playing field, but that we morph organically into a more fair society.

But will We the People recognize the opportunity? Will we demand that money flows to the right places rather than to prop up already artificially inflated property prices? Will we demand a QE for the people rather than a repeat of the 2008 QE for the richest? Will we demand equal opportunity?

Our current tax system is riddled with loopholes for the very wealthiest. In my 2019 "England's Mask" YouTube video I introduced a plan to do away with taxes, lawyers, and accountants and to streamline the cost of running the country.

The Pandemic proves my plan is possible.

So will we just allow the government to "bounce" us all back to even worse inequality?

Or will We the People seize the day?