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> without creating anything of value to a society, Can be true, but is not necessarily always true: They might already have created value for society by worki
by eMGm4D0zgUAVXc7 5y ago
> without creating anything of value to a society,
Can be true, but is not necessarily always true:
They might already have created value for society by working, and now want to save their thereby hard-earned money without getting the fruit of their work stolen by inflation.
What's bad about not wanting to be deprived of your retirement savings?
Governments have a long track record of providing poor pensions, of course people want to protect themselves against that.
- rualca 5y ago> They might also want to save their hard-earned money without getting the fruit of their work stolen by inflation. "stolen by inflation" is a ridiculous take. Society benefits greatly from inflation as it's an incentive to not stockpile production/consumption potential in a way that it artificially stifles the economy in general and everyday people's lives in particular, because there is a very clear and obvious way to avoid inflation: apply the money in productive investments. Whether the money is lent or made available to someone else in exchange of a small payment (i.e., interest rates), those with money can already easily beat inflation just by investing conservatively. ON the other hand, dumping cash on a ponzi scheme hoping that the next guy in line is left holding the bag, is not a good justification for this sort of scheme. It's extremely damaging to society and ultimately dangerous to society.
- deleted 5y ago[deleted]