It is a refreshing perspective to consider, when my beliefs have caused much animosity and resentment:
@LynAlden suggests that the introduction and need for speed in the settlement layer of domestic and international transactions not satisfied by the properties of gold, was the main incentive for policymakers and central bankers to issue more paper claims for gold in relation to actual gold held in reserves.
It was the evolution of technology in the global financial system, or lack thereof, that incentivized what we today call money printing, not greed or evil.
When I understood her point, my heart started to heal from the correlated anger and frustration for cental planners.
Sure, they are to blame for misusing the system to their advantage, however not for the ability to misuse it.
#economy #USDebt #bitcoin
Man is it hard not to be led by the emotions it all causes. I battle the same issues but we can all achieve more with striving towards something than against it. Thank you for trying, sincerely.
Sly and roundabout ways… 😉
torally, handling emotions boils down to intentional self reflection, which I've propelled myself into lately. It's tough, but deeply rewarding and therapeutic.
Paper was detached from gold to allow for a growing money supply to support a growing economy.
money supply need not to expand to support a growing economy.
It does, otherwise prices won't be stable.
these are ideas created in a world pre technology. Technology is inherently deflationary, which makes every dollar pay for more over time.
What's the incentive to keep prices stable in contrast to the natural decrease in prices due to technology?
You can't plan ahead financially unless you know what things will cost in the future.
If the government adopts a Bitcoin reserve standard, they won’t be able to fund wars or spend on the military as easily. This could lead to more peace and prosperity. Politicians would lose control over their own narratives and their power. You get the idea why they hate #Bitcoin.
I hope I live to see it happening
Fractional reserve banking is older than central banks.
The bankers of old convinced kings to legalise this fraud in return for generous credit.
Any reason for fractional reserve existing other than fraud being profitable is a post-hoc justification for said fraud. And these days it's more like fictional reserve.
You should go back to being angry, it is the correct state of mind.
I prefer a state of calm. Helps me think more clearly
Honestly I think that makes it worse. They had explicit reasons why this system had to have vulnerabilities and exploited it regardless. But it was a massive oversight to allow politicians to appoint judges that oversee the laws. What do you think is going to happen with that conflict of interest
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