Austrian Revivalist on Nostr: I diverge from people who think bitcoin solves everything for a struggling economy. ...
I diverge from people who think bitcoin solves everything for a struggling economy.
Adoption of sound money has to be followed up by sound political and economic reforms like:
•Dismantling every single price control on commodities, goods and services
•Abolishing legal tender laws
•Reducing tarrifs and custom duties
•Drastically simplifying the tax code
•Abolishing the central bank
•Abolishing centrally planned interest rates and letting them be determined by savings and investments
•Privatising state-owned corporations
•Removing regulations that mandate fractional reserves and let the market forces rain down upon the banking system
•Allow depositors to demand collateral for giving their money to banks
•Land reforms that remove restrictions on land ownership, appropriation and exchange
•Making the entire country a common market for everything and preventing sub-national entities from extracting taxes.
Adoption of sound money has to be followed up by sound political and economic reforms like:
•Dismantling every single price control on commodities, goods and services
•Abolishing legal tender laws
•Reducing tarrifs and custom duties
•Drastically simplifying the tax code
•Abolishing the central bank
•Abolishing centrally planned interest rates and letting them be determined by savings and investments
•Privatising state-owned corporations
•Removing regulations that mandate fractional reserves and let the market forces rain down upon the banking system
•Allow depositors to demand collateral for giving their money to banks
•Land reforms that remove restrictions on land ownership, appropriation and exchange
•Making the entire country a common market for everything and preventing sub-national entities from extracting taxes.