Oddbean new post about login | logout when you hoard sound money that is capped in amount, you merely make that money in circulation rarer and more valuable - so it's not a problem
Yes, but if someone has more sound money, they can buy more assets, I wonder how that would lead to a more equal world 🤔
You're missing the point that with sound money they would have had to create value to get that money in the first place. Without artificially cheap debt value has to be created into the world to accrue money.
Would have had to, but we have whales now 🤔
Equal outcome is not (and should not be) the goal. If the money works to store value, one is incentivized to hold it versus consuming or "hoarding" actual resources. The 'problem' you're describing is only a problem when we have a broken money.
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Not equal, but at least fair, if company X now amassed massive amounts of Bitcoin, BlackRock, and Blackstone buys more of the worlds physical assets down the line, Bitcoin is the standard, the rest of the world will be paying rent to a company that controls the market? 🤔
It seems you don't have a good enough understanding of how money works today to have an informed conversation about how the future could look with a different monetary base.