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I thought everybody would be using Bitcoins instead of dollars by now. What I missed is that (1) people don't care about whether the government can create mone
by csense 7y ago
I thought everybody would be using Bitcoins instead of dollars by now.
What I missed is that (1) people don't care about whether the government can create money whenever it wants, they care more about money with stable value over time relative to the value of goods and wages, and (2) Ben Bernanke must have actually known how to do his job, because the huge post-2008 QE didn't cause massive, economy-destroying levels of inflation as I predicted it would.
I literally learned this in Economics 101 in college, but I guess I had to see it for myself in order to believe it.