Discover and read the best of Twitter Threads about #thefiatstandard
Most recents (5)
There is no inflation if you accept you are poorer!
#TheFiatStandard
"British households and businesses “need to accept” they are poorer and stop seeking pay increases and pushing prices higher, the Bank of England’s chief economist, Huw Pill, has said."
theguardian.com/business/2023/…
#TheFiatStandard
"British households and businesses “need to accept” they are poorer and stop seeking pay increases and pushing prices higher, the Bank of England’s chief economist, Huw Pill, has said."
theguardian.com/business/2023/…
See #TheFiatStandard hashtag for countless stories leading to the BoE's conclusion that you can fix inflation by learning to have fun staying poor
You'll love the pod!
If government can print as much money as it needs, why can't it buy security in Chicago?
#TheFiatStandard
#TheFiatStandard
Why was Chicago more peaceful on the gold standard, when government couldn't just print money to buy security?
cc: @WTF_1971
encyclopedia.chicagohistory.org/pages/2156.html
chicagocrimescenes.blogspot.com/2009/07/138-ye…
cc: @WTF_1971
encyclopedia.chicagohistory.org/pages/2156.html
chicagocrimescenes.blogspot.com/2009/07/138-ye…
Technological advance masks the real consequences of inflation, not just in the CPI
A very large number of businesses is now practically insolvent because of the shut downs. What will survive, and who will get to own it, will to a very large extent depend on who can get the lowest interest rate loans from their local central bank.
#TheFiatStandard
#TheFiatStandard
Central banks are increasingly buying more equity, but also determining the ownership of equity through their allocation of credit. Bureaucratic decisions are becoming more important as the private market for capital is becoming increasingly ceremonial.
In an alternative universe with a hard money that holds its value over time, businesses and individuals would hold on to cash balances.
That would not just allow them to invest when the right opportunity comes, but also protects them from personal, national, or global crises.
That would not just allow them to invest when the right opportunity comes, but also protects them from personal, national, or global crises.
The Federal Reserve created a high velocity trash economy & destroyed the concept of saving, fragilizing families, businesses, and jobs across the economy, leaving them desperate for any politician to bribe & buy their allegiance with the wealth stolen from them.
#TheFiatStandard
#TheFiatStandard
For a century, govts financed high time preference semi-literate Keynesian morons to pretend to be economists & convince you that saving is anti-social & your responsibility is to spend or invest in an easy money financial casino with no fundamentals.
Mission accomplished, serf!
Mission accomplished, serf!
For a century, the Fed's easy money has financed an economic curriculum shaped by a self-declared immoralist, a high time preference degenerate with no conception of the future whose understanding of saving is this 👇 astoundingly stupid.
Face it: You are all Keynesians now.
Face it: You are all Keynesians now.
The real value proposition of building a business is no longer in selling goods, but in selling debt to customers and profiting from interest rate arbitrage. #TheFiatStandard
From 2017:
"Thus, credit card income now represents more than 40% of Macy's profit."
#TheFiatStandard
fool.com/investing/2017…
"Thus, credit card income now represents more than 40% of Macy's profit."
#TheFiatStandard
fool.com/investing/2017…
Issuing debt is the fiat standard's primitive version of mining bitcoin. A financial institution that issues debt creates new money. Instead of needing to solve a proof-of-work problem, they just need to convince you to take on debt. That's easy & has lousy difficulty adjustment.
