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Roman Empire is a biggie. The Weimar Republic is the most obvious. I guess we are now arguing 'Austrian Economics' vs. 'Keynesian Economics'... This is a fair

Roman Empire is a biggie. The Weimar Republic is the most obvious. I guess we are now arguing 'Austrian Economics' vs. 'Keynesian Economics'... This is a fair simplification. As long as you hold real assets to protect your wealth, the government's debasement of the currency (modest inflation) is of no concern. Clearly, when a person lives from paycheck to paycheck the only concern is "Can I buy food next week?" and "Can I pay the rent on the 1st?". Wealth preservation and modest inflation is not on the radar. However, it is still hurting the man that earns $12/hr, no matter the modesty of the inflation. Just look around right now. Is the current inflation rate modest? Did everyone get a raise to account for the CPI going up? Will everyone get an 8.5% raise next year? In my opinion decoupling the currency from anyone's "control" is the key idea behind Bitcoin.

alphabettsy 4y ago
It doesn’t de-couple it though. Bitcoin can and is manipulated by “whales” just like any other market. If it becomes a reserve currency governments and the very wealthy will still hold the vast majority and thus maintain control right?
masta 4y ago
I hate to break it to you, but the hyperinflation of the Weimar Republic ended around 1923 and the Republic prospered afterwards. Till the Great Depression, which was in big parts driven by speculative assets .... Wonder where I've heard that before. And in the aftermath, the 1930s introduced austerity and deflation policies to the Weimar Republic, which was the final straw.
- majewsky 4y ago
  Not sure why the correction of a common misconception is being downvoted here. If you want to learn more about the history of the German economy between 1900-1945, the authority on the subject is the British historian Adam Tooze. He has a couple of books on the subject, listed on Wikipedia if you want to check them out.

alphabettsy 4y ago

It doesn’t de-couple it though. Bitcoin can and is manipulated by “whales” just like any other market. If it becomes a reserve currency governments and the very wealthy will still hold the vast majority and thus maintain control right?

masta 4y ago

I hate to break it to you, but the hyperinflation of the Weimar Republic ended around 1923 and the Republic prospered afterwards. Till the Great Depression, which was in big parts driven by speculative assets .... Wonder where I've heard that before. And in the aftermath, the 1930s introduced austerity and deflation policies to the Weimar Republic, which was the final straw.

majewsky 4y ago
Not sure why the correction of a common misconception is being downvoted here. If you want to learn more about the history of the German economy between 1900-1945, the authority on the subject is the British historian Adam Tooze. He has a couple of books on the subject, listed on Wikipedia if you want to check them out.