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> cryptocurrencies basically guarantee pro-cyclic austerity programs I never heard about this, can you elaborate a bit more this idea, or point me to some arti

• grey-area 9y ago
  If you can't print your way out of debt (fixed money supply), the corollary is that you would be forced to cut in times when debt was in short supply (not able to borrow, no surplus), you wouldn't be able to simply create debt out of thin air as all the central banks have over the last decade, with yet to be seen side-effects (aside from the asset bubbles).