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by jollybean
1830 days ago
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It's 'definitely not sane' to fix the amount of currency in circulation, either fiat or gold or crypto, arbitrarily. It would be like saying 'we're going to fix the amount of roads we have' and 'people will be forced to use the roads more sensibly!'. The only reason for 'fixing' currency would be to prevent bad actors from running the printing press. Now - this is actually a very real problem historically - however, it's a pretty crude solution. The smart thing to do is manage your currency smartly - literally like everything else in civilization. You need good Public Health Policy, you need good Monetary Policy. |
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Good monetary policy may be practicable by angels or saints, but not by men, who stand at the gates of unimaginable wealth that emanates from the printing press. Literal trillions of dollars - who can even conceive of that value, let alone decline the exercise thereof? Better to take it out of our hands.