Fiat economists think the choice of money is imposed by government based on economists' theories.
They simply can't conceive that the market choice is based on individuals making self-interested choices.
Bitcoin is here to punish them with poverty for this insane conceit.
They simply can't conceive that the market choice is based on individuals making self-interested choices.
Bitcoin is here to punish them with poverty for this insane conceit.
https://twitter.com/ConnerBrrrrrrr/status/1350150499778093057
In fiat econ textbooks, money is designed by central planners to achieve social objectives. That it can emerge out of voluntary self-interested individual action destroys the rationale for central planning & exposes the truth that their plans are the root of all econ problems.
Fiat economists are extremely intellectually, financially, professionally & emotionally invested in centrally planned money. They simply CANNOT fathom the idea that bitcoin could emerge without their permission or theoretical blessings.
Have fun missing bitcoin!
Have fun missing bitcoin!
People want to maintain & gain purchasing power, they don't give a shit about fiat econ theories. Bitcoin is better monetary technology than socialist centrally planned inflationary alternatives, & the market will continue to reflect that as it rises while they plummet new depths
As it continues to rise, fiat economists will continue to grumble incoherent noises and invoke their rank & authority to dismiss it. They'll never be able to swallow the bitter orange pill that fiat monetary theory is as relevant to this new world as Marxist brain-damage.
My advice to fiat economists:
It'll hurt your ego to realize today all your career was worthless socialist pseudoscience. But it'll hurt far more to realize this tomorrow!
Swallow the bitter orange pill now so you don't have to take the giant orange suppository later.
It'll hurt your ego to realize today all your career was worthless socialist pseudoscience. But it'll hurt far more to realize this tomorrow!
Swallow the bitter orange pill now so you don't have to take the giant orange suppository later.
Fiat econ has tons of theories on the optimal rate of monetary supply increase. Fiat economists deludely think the theories matter for things other than their career.
The real world & market shows people only want one thing in money: the lowest supply increase possible.
The real world & market shows people only want one thing in money: the lowest supply increase possible.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
