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It's not less honest, the federal reserve literally sets targets for inflation and publishes them. Everyone railing against fiat money while loving bitcoin have
by Raidion 6y ago
It's not less honest, the federal reserve literally sets targets for inflation and publishes them. Everyone railing against fiat money while loving bitcoin have the exact same views as a government economist. The only difference is that the bitcoin/gold side keeps on trying to think of US Dollars as a store of value while the government and economists know it's a medium of exchange.
The fact that people keep money under mattresses is a failure of the educational system, not a failure of monetary policy.
- id02009 6y agoIt is dishonest. The liquidity is not being injected everywhere at once. Those who get to spend it first enjoy the full purchasing power at the expense of everybody else. Also imagine a person keeping 3000$ for a rainy day. He can't buy stocks, because rainy day could come at a stock dip. Losing 23% of that money in 5 years (assuming 5% inflation). How is it a failure of an educational system, not monetary policy?
- krupan 6y ago"It's not less honest [of the government]...[it] is a failure of the [government run] educational system" Think about that for a minute
- id02009 6y agoOMG, excellent catch!
- alfiedotwtf 6y ago> The only difference is that the bitcoin/gold side keeps on trying to think of US Dollars as a store of value while the government and economists know it's a medium of exchange. Both. In the end, everything is a commodity — Apologies to Baudrillard