Aaron Herbst on Nostr: Bitcoin cult delusion is real. Loans are a problem for any non-inflationary currency. ...
Bitcoin cult delusion is real.
Loans are a problem for any non-inflationary currency. See the "cross of gold" speech.
In civilization, periods of inflation come and go in cycles and is correlated with population growth. People can take more safely take risks when they can safely take out loans against the melting currency. But, inflationary periods also usually end in revolution.
Inflation and deflation empower different groups, whether money-printers or Scrooge's.
Loans are a problem for any non-inflationary currency. See the "cross of gold" speech.
In civilization, periods of inflation come and go in cycles and is correlated with population growth. People can take more safely take risks when they can safely take out loans against the melting currency. But, inflationary periods also usually end in revolution.
Inflation and deflation empower different groups, whether money-printers or Scrooge's.