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It's not only that particular market, it's effectively the whole credit based economy, underwritten by a financial system that fuels it. When credit and large a
by chiefalchemist 2y ago
It's not only that particular market, it's effectively the whole credit based economy, underwritten by a financial system that fuels it. When credit and large assets are involve, these system(s) are intentionally tuned to avoid decrease in price. That would ccompletely undermine those entities making the loans.
The Fed is on record as saying, "Our target is 2% interest". Imagine that, we're going to devalue your hard earned money 2% a year, and no one cases (because it's passed off with the euphemism "inflation"). We get more efficient and more effective and prices go...up??!!
I highly recommend the book "Broken Money". Not so much for the Bitcoin and crypos stuff, but for the lessons on the history of money, the financial system, etc.
https://www.lynalden.com/broken-money/ https://www.lynalden.com/broken-money/