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> Likewise, storing money under your mattress isn’t a useful thing to do, digital or otherwise. This is just not true. It is a tool to let prices properly repr
by sprash 6y ago
> Likewise, storing money under your mattress isn’t a useful thing to do, digital or otherwise.
This is just not true. It is a tool to let prices properly represent the risk of future price changes. People who save money supply a net positive value to the economy while withholding demand to sometimes in future at the risk that they will afford less for the money. This lowers the price for people that need that immediate demand.
Fiat money and central banks completely destroy that kind of price discovery obviously.
- candiodari 6y agoI think this is a perspective difference. Both of your statements are true. 1) yours from an individual point of view 2) the GP from society's point of view