Fiat is a Disease
A Harvard economist published 100+ pages of survey analysis to confirm what anyone outside of the fiat academic bubble already knows: people don’t like it when the stored value of their time+energy is inflated into oblivion.
You can access the full report here for anyone interested: https://www.nber.org/system/files/working_papers/w32300/w32300.pdf
One quote from the Abstract really jumped out at me: “The predominant reason for people’s aversion to inflation is the widespread belief that it diminishes their buying power.”
Well, yeah, no shit… But this isn’t a “belief”… this is a fact.
Here’s the thing: the average person understands the problem, because they feel the effects of the problem every single day…
They may not understand the root cause of the problem (creating money out of thin air)–instead blaming “greedy corporations” or “Joe Biden” or “Putin’s Price Hike” or whatever the propaganda du jour happens to be–but they know inflation feels wrong. It feels like someone is stealing from them (which is true).
They know their purchasing power has decreased, because when they spend a dollar today it buys less than it did five years ago, and much less than it did 20 years ago.
It doesn’t matter if fiat academics tell them “everything is fine! stop complaining! inflation is ackshually a good thing!”
People can feel that something is broken.
Most people still think there is a partisan/political solution to the problems they feel.
They think “if only OUR guy was in charge, things would be better” or “if only we taxed the greedy corporations and the rich more, then things would be better.”
But political solutions will always be bandaids meant to superficially treat the symptoms of the disease so the Political Team proposing the “solution” can score short-term perceived wins ahead of the next election. “Look, we did something! Now stop complaining and vote for us because the other guy is literally the devil.”
A few people already realize that the money itself is broken.
They understand that when the money breaks, society breaks with it.
Money created out of thin air disproportionally enriches those closest to the creation of the new money.
Money created out of thin air is used to fund Forever Wars we never agreed to enter.
Money created out of thin air is used to subsidize companies/industries that the free market does not value, distorting price signals.
Money created out of thin air bails out banks.
Money created out of thin air perpetuates never-ending boom and bust cycles.
Money created out of thin air reduces the purchasing power of the money in your pocket.
Money created out of thin air steals the value of your time and energy, of your life itself.
The people who realize the money is broken now save the value of their time and energy in Bitcoin; a money separate from the State with a fixed supply of 21M which cannot be arbitrarily inflated.
Bitcoiners know we need to cure the base layer disease, not just treat the symptoms while politicians kick a can full of worthless money down the road until it lands at the feet of our children.
Bitcoiners refuse to abdicate responsibility. Bitcoiners refuse to pass this disease on to our children. Fiat is the disease, and we know we must cure it.
It will not be easy, but it must be done.
We need to fix the money.
Study Bitcoin. https://bitcoinpodcast.net https://primal.net/walker