You keep acting as if the fact that hard money is not flexible in regards to expanding and contracting is a bug and critical flaw of hard money. It is not a bug its a feature.
Similarly, the fact that fiat
can expand and contract is not a bug - it's a feature. As I've said before, your myopic focus on fiat itself misses the point. Currency is not the most important facet of an economy, and has no value in and of itself. Currency is not wealth; currency is the means by which real wealth is created through productive investment, trade and the application of human labor. Money is a social fiction which allows the economy to function, and has no other use. Therefore, the best form of money is one that provides the greatest incentives and structures to facilitate economic growth and investment.
A full hard money standard (such as Bitcoin standard or classical gold standard) limits the amount of deficit spending that governments can do and limits the funding for wars.
This is nonsense; wars (including total wars) have been waged since time immemorial and far pre-date the invention of fiat. Further, we had two world wars that occurred before the 1971 closing of the gold window, when the USD was still convertible to gold. We haven't had a war on that level since. There is simply no causative link between fiat currency and governments choosing to wage wars.
I don't have time to explain the whole history of money, fiat and banking crises in this thread.
Most banking crises pre-date the creation of central banking. Indeed, central banking was created largely to put an end to the ruinous banking crises that regularly plagued the country throughout the nineteenth century. Has it worked perfectly and without drawback? Of course not. But there is no perfect system. A gold standard is not perfect. Fiat is not perfect. And a theoretical Bitcoin standard would certainly not be perfect, either.
Always heretofore he possessed an
equalizer. If government finances weren’t run according to his idea of soundness he had an individual
right to protect himself by obtaining gold.
Individuals can still protect themselves from fiat debasement by obtaining gold and other hard assets. What's the problem? Remember, the point of fiat currency is not that it should be hoarded under one's bed -
it is literally designed to be spent, to be deployed into the economy to facilitate trade and investment. The fact that fiat gradually inflates is intended, and is a function of the money supply (debt) expanding along with a growing economy. There is a reason that the gold standard was abandoned and why no country uses it today - because it simply did not function as well as a modern fiat system does.
I've posted more information and actionable information to boot on this thread alone than most posters have on the entire forum, scorp
No one has any issue with your opinions on any topic, myself included. Your contributions are always appreciated. Please just remember to be respectful when engaging with your fellow posters, and don't insinuate that they are stupid simply because they disagree with you. It degrades the quality of the discussion.
looks like an interesting security solution
Did you receive one of these letters? I remember awhile ago warning you not to take the IRS lightly. They
will come after you eventually, and they will not be impressed by any sort of novel legal arguments about sovereign citizenship and not owing them taxes on capital gains. You flout them at your peril.
vora.io
fountain.fm
