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by gthaman
2881 days ago
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> Seems like just another case of a guy arguing without having understanding on the topic? At best he is ignorant, at worst he is perpetuating the current monetary system(s) which is in a macroprudential[1] policy mode - not good - as many of us can see around us daily. Aside from the truth of there being more money owed with interest (as a debt) than current money in circulation with which to pay that debt off (results in either #1 forced defaults on loans at some time in the future or #2 a feedback cycle with bursts of new loans created to pay off the previous debts without the forced defaults of #1) the current dollar system and all modern currencies are directly harmful to the population and indirectly harmful in a number of ways. I cant stay on here all night but seek elucidation elsewhere if you are interested. Macro voices the podcast does a pretty good job. I don't think all the kings horses and all the kings men will be able to stop bitcoin from success or the dollar from failure but what always astonishes me are the endless arguments for inflation being good for the economy when its basically how the government pays off its outrageous debt by stealing from the elderly, disabled and anyone with a fixed income. And its not just the benefactors of the system, there are volunteer robot numskulls repeating this hypothetical garbage every day on the internet about inflation when really it just allows the government to sustain itself by getting senior citizens to eat dog food. People need to stop letting themselves be tricked into exchanging their time, youth, skills and labor for tokens that are guaranteed to be devalued, its been over 100 years now and none of us know anything different. :( [1] https://en.wikipedia.org/wiki/Macroprudential_regulation |
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Nothing stopping people parking their savings (if any) in mutual funds, Bitcoin HODLing is not the only choice for protection against inflation.
I would argue that it's not even protection, b/c nothing guaranties that artificially-limited supply model will work in the long term.