z_cress on Nostr: I said it was an oversimplification. Maybe to the point that it’s not a useful ...
I said it was an oversimplification. Maybe to the point that it’s not a useful analogy (?) - but you asked what they meant. I think that’s what they mean when they say that.
I understand that you can price inflation under any monetary system.
I’m not seeing how (2) is relevant though. If there’s benefit to theft, it doesn’t take it not theft. If you steal five dollars from everyone and put in a park, it doesn’t mean you didn’t steal five dollars.
Maybe the best good-faith way to put it is this: The “theft” is the extent to which monetary inflation causes the non-consensual decrease in buying power of the monetary energy a citizenry has accumulated.
I understand that you can price inflation under any monetary system.
I’m not seeing how (2) is relevant though. If there’s benefit to theft, it doesn’t take it not theft. If you steal five dollars from everyone and put in a park, it doesn’t mean you didn’t steal five dollars.
Maybe the best good-faith way to put it is this: The “theft” is the extent to which monetary inflation causes the non-consensual decrease in buying power of the monetary energy a citizenry has accumulated.