Central planning eventually breaks down due to unintended consequences. Ever increasing levels of intervention are needed to sustain central planning.
Unintended consequences are inevitable because the market is made up of infinite variables interacting through time.
Even the best models can't hope to include more than a trivial number of those variables.
Even the best models can't hope to include more than a trivial number of those variables.
Central banks are the lowest level, the base layer of all intervention. Their central planning is breaking down. #bitcoin
