Oddbean new post about login | logout I don’t care how well Snider understands the machinations of the Fed. Since he still thinks a money with an inflexible supply (Bitcoin) can’t work, I can safely disregard his opinions on economic theory. To avoid wasting time, I recommend avoiding him until he becomes a Bitcoiner.
Funny, Jeff Deist holds the same FUD against Bitcoin. So ~2% yearly theft is acceptable then, Jeff? Jeff is a shitcoiner because he works for Monetary Metals. Much more respectable than Snider, but that’s not saying much. https://image.nostr.build/24bd5e3b1739319550e6865530ea762841659cce92aa4c4b90f46912d9718728.jpg
Hahahaha Jeff’s views on btc aren’t solely based on fixed supply, but network effect and usability. Jeff understands how the global money system works- which means understanding how it currently does *not* work. Can’t proffer a solution unless you can explain the problem the solution solves. And trite libertarian memes don’t elucidate the complex issues plaguing the money system. If anything such oversimplified criticisms (Fiat is theft, etc) conceal the real issues which must be diagnosed, explained and understood if a solution is to be pitched , accepted and adopted.
To supplant the dollar, a replacement will need to be able to fulfill the global role the dollar currently serves, and do it, if not as good, Better. That’s a massive order for any would be solution.
Yea, it’s called Bitcoin.
Who is Snider ?
Jeff Snider. Popular macro guy know for his work on the Eurodollar.
