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> Moderate inflation is a feature not a bug. It drives investment and increases the money supply. Hah! Indeed. By 'drives investment' do you mean massively inf

> Moderate inflation is a feature not a bug. It drives investment and increases the money supply. Hah! Indeed. By 'drives investment' do you mean massively inflated asset prices (you may have heard the term 'Everything Bubble') and wild speculation (i.e. crypto, VCs) such as hasn't been seen since the Roaring 20s? > We shouldn't even call them "currencies" because they're not. They're assets and hugely speculative ones at that. Quite. I was going to point out that there's a difference between 'currency' and 'money', but I can see you're busy trying to school me. Please continue. > It's really just as well it's an asset because deflationary currencies aren't good for anyone. Ostensibly your money goes up in value over time but no one spends it so the economy just grinds to a halt. Well, I'll take that over the USD dollar, which has collapsed in value by almost 99% since 1913 (when the Fed was created), and is about to collapse even further. All of your bullet points are perfectly in line with government and central bank propaganda—I mean, talking points. Overall, I would posit the complexity of our 'modern financial system' is a great way to obfuscate the truth about it—don't confuse knowledge of facts with understanding. Plenty of people smarter than you have both, and have come to the opposite conclusion[0]. [0] https://www.brainyquote.com/quotes/henry_ford_136294 https://www.brainyquote.com/quotes/henry_ford_136294

ryan_lane 5y ago
You're pointing out a difference between currency and money, but then treating USD like it's an investment that's a massive loss since 1913, though the point of USD is meant to be a currency, and not a store of value. You're meant to use it at its current price, and it's intended to be worth less over time to encourage you to spend it. Investments, valued in USD, beat inflation, so it doesn't matter that the USD is inflationary.
- nateabele 5y ago
  Amazing. Only on HN. Technically correct, yet completely disconnected from reality: Forget the propaganda about the financial system that we've all grown up with, blame it on user error, and utterly disregard anyone who doesn't derive their income from assets and has to buy groceries (i.e. most of the user base).

ryan_lane 5y ago

You're pointing out a difference between currency and money, but then treating USD like it's an investment that's a massive loss since 1913, though the point of USD is meant to be a currency, and not a store of value. You're meant to use it at its current price, and it's intended to be worth less over time to encourage you to spend it. Investments, valued in USD, beat inflation, so it doesn't matter that the USD is inflationary.

nateabele 5y ago
Amazing. Only on HN. Technically correct, yet completely disconnected from reality: Forget the propaganda about the financial system that we've all grown up with, blame it on user error, and utterly disregard anyone who doesn't derive their income from assets and has to buy groceries (i.e. most of the user base).