Bitcoin Audible7 Sep 2023

Guy's Take #70 - But Deflation is Bad

A deflationary money is going to destroy the economy! If the value of money keeps going up, then no one will ever spend it! If no one spends it, then the economy will fall into a depression and it will never escape… at least, this is what we are told.

How is it that a sound money system with no special privilege and with no printing machine has been equated with the collapse of the economy? How is it that stuff getting more affordable, has been equated with nobody ever buying anything? How have we been led to believe, that someone else's monopoly privilege to print OUR money, is the SOURCE of our wealth and prosperity?

What if, and hear me out, deflationary money is a boon to the economy, is a huge boost to economic activity, and that a sound money doesn't even go up in value, unless real growth is actually occurring? And what if we could frame this in such a way that it is completely self-evident and sitting right in front of us all the time?

It's time for a Guy's Take episode, the second in the FUD relief series, "But Deflation is Bad…”

Links mentioned in the show:

WTF happened in 1971

Why your dollar ain't shit

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