Can someone please ask this moron who exactly "designed" money to lose 2%/year, why & when?
In reality, this was not designed. Govts went off gold to finance WWI. After enjoying the extra spending it allowed them they invented rationalizations to justify it & pretend it's better
In reality, this was not designed. Govts went off gold to finance WWI. After enjoying the extra spending it allowed them they invented rationalizations to justify it & pretend it's better
The move away from the gold standard, when it happened, was NEVER presented as a rational move to a superior monetary standard. It was universally understood to be economically destructive & expensive, but was justified as necessary to finance war.
After WWI ended, governments still paid lip service to wanting to return to the gold standard, but continued with inflationism, with predictable disastrous consequences: the global depression & breakdown in international trade in the 1930s.
After more than 2 decades of abandoning the gold standard, govt universities started promoting the garbage inflationist economics that presents intellectual arguments to justify what govts had done anyway for decades. It has convinced a lot of people, but only idiots.
The scam of 1930s inflationist economics is in blaming the gold standard (abandoned in 1914) for all all the consequences of inflationism until the 1930, and magically presenting inflationism as the solution. Yes, it really is that brazen in its stupidity mises.org/library/failur…
Your govt's shitcoin wasn't designed so that "2% inflation would promote investment". It was designed to allow your government to rob you efficiently.
It's the braindead Keynesian economics you were taught at school that was designed to make you think this is for your own good.
It's the braindead Keynesian economics you were taught at school that was designed to make you think this is for your own good.
Since the 30s, academic economics has been a dumb & pointless march down a dead end because it is all based on two unquestionably wrong yet unquestionable truths:
1- Govt needs to control money supply
2- Money supply needs to constantly grow
No fiat economist can question these
1- Govt needs to control money supply
2- Money supply needs to constantly grow
No fiat economist can question these
This is why all govt-paid economists hate Bitcoin & will hate it as long as their stupid fake jobs exist: it obliterates the lies on which their paycheck and entire worldview rests. It continues to work & grow without government control or an inflationist monetary policy.
