Phooey, the vast majority of new money in all western nations is created by privately owned banks as interest bearing debt. Whoever issues the nations currency benefits through seigniorage. In the past this was usually the royal family or government. However, by giving this privilege to privately owned banks, we have gifted a public source of revenue to the shareholders of the banks. This is an outrage that rarely gets discussed because it's technically complex and easily camouflaged in banking industry jargon.
In the UK a group called Positive Money has started fighting against the banking system that allows this travesty to continue - in Australia dissenters are few and far between.

Dear Aidan,

Thank you for the explanation (for Phooey) about the inflational and deflational effects of printing money.

What I think that you haven't taken into account, is that what is deflational for some is not so for others:

New money is likely to be invested in new products rather than in lowering the price of traditional ones. This may look good for the younger generation who are always on the look for new electronic gadgets, but not for the older people who have no need for it and only want to be able to afford the basics with their savings, especially food and home-repairs. Such "neutral" events leave them practically with less savings to live on.

The people I will be voting for the loose cannons as they represent the only real hope there is for any reform back to democratic country where there is govt for the people by the people.

I'll be starting with all the micro parties, then the independents and then I will put the factions of Main party last.

The two factions of Main party are forcing us into a choice they give us so I guess I will be one of the 4% who will fill out their vote and number every box, below the line.

The two factions of the Main Party are merely the two wings of the same bird of prey.

Excellent, Referundemdrivensocienty,

If only the general electorate resembled the OLO membership...