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> The point of central banks is to control their monetary policy. There's plenty of people out there who disagree with central bank's existence and policy. I d
by realce 3y ago
> The point of central banks is to control their monetary policy.
There's plenty of people out there who disagree with central bank's existence and policy. I don't know if I'd call a currency "stable" when it's lost 80% of it's own value since being introduced and can have new liquidity created with little due process. All currency is an illusion, it's just about which illusion makes you more comfortable.
It's all just money, and money isn't entirely rational to begin with.
- cmh89 3y ago>I don't know if I'd call a currency "stable" when it's lost 80% of it's own value since being introduced and can have new liquidity created with little due process. Something that depreciates can still be stable. The US dollar loses value at a relatively predictable rate. We can see what an unstable currency looks like right now by looking at Argentina, where the peso has lost 47% of its value in a year. BitCoin is more like the peso than the dollar, hence why its called unstable. > All currency is an illusion, it's just about which illusion makes you more comfortable. Currency isn't an illusion, it's a social construct, and its a deeply embedded social construct.
- deleted 3y ago[deleted]
- Kye 3y ago>> "I don't know if I'd call a currency "stable" when it's lost 80% of it's own value since being introduced and can have new liquidity created with little due process." By that logic, Earth is tilting dangerously out of control and the moon is hurtling off into deep space.