Hacker News new | ask | show | jobs
by paulddraper 1150 days ago
> Licence to create money out of thin air is like license to steal.

Is the purchasing power of your savings account shrinking 6% a year from inflation, or it is shrinking 6% a year from bank robbers?

Same effect either way.

1 comments

If I'm sitting on a mountain of corn/a pile of gold/a warehouse full of NVIDIA GTX 3080 cards, and someone else starts growing corn/digging up gold/selling 4080 cards, my savings' purchasing power is going to drop, but it would be disingenuous of me to complain that I'm being robbed.
There you are producing something, which is a worthy endeavor.

I think a closer analogy would be spreading a corn disease.