Dr. Jeff on Nostr: The gist of the problem is not banks, per se... but "fractional reserve" credit ...
The gist of the problem is not banks, per se... but "fractional reserve" credit expansion by the United States (and other nation states) government.
Ever-increasing debt expansion beyond real underlying production growth is the root cause of monetary debasement over time.
Not "money printing," as is commonly stated.
The Federal Reserve is not the source of this credit expansion but, rather, the facilitator of ongoing Congressional misbehavior as the buyer of last resort of (unlimited) US government debt.
The great sleight of hand is the US government's ability to utilize the Federal Reserve to monetize it's own debt... covertly debasing the currency and stealing the purchasing power of its own citizens.
#Bitcoin fixes this.
Ever-increasing debt expansion beyond real underlying production growth is the root cause of monetary debasement over time.
Not "money printing," as is commonly stated.
The Federal Reserve is not the source of this credit expansion but, rather, the facilitator of ongoing Congressional misbehavior as the buyer of last resort of (unlimited) US government debt.
The great sleight of hand is the US government's ability to utilize the Federal Reserve to monetize it's own debt... covertly debasing the currency and stealing the purchasing power of its own citizens.
#Bitcoin fixes this.