CharlesOakley wrote:I think all fiat is in a death spiral. There is too much existing debt for us to do anything but print our way out of it. The interest on our national debt has eclipsed our military budget and we aren't slowing down but accelerating. With talk of student debt relief, ongoing funding of Ukraine and Israel, possible reparations, and an upcoming election cycle, the opportunity for politicians to print money to gain political capital is endless. There are also pending bank failures, wallstreet bailouts, quantitative easing, potential commercial real estate collapse etc. where the fed will step in by printing more money.
As for tightening the money supply, that will disproportionately affect lower-income individuals who rely more on credit for consumption and emergencies in the short-term but may be needed for long-term stability and because inflation disproportionately affects them already. Historically, it's people who can afford investments like the S&P 500 or real estate who have on average gained at the rate our dollar was devalued. Everyone else has been getting robbed by the invisible tax of inflation. As Michael Saylor say, there is a name for people who keep their money in banks, "poor". I highly recommend reading "The Fiat Standard" by Saifedean Ammous if you are interested in this subject.
this man get's it.
could not agree more on all counts. don't forget about printing more to give to poor nations so they can turn around and buy our debt to keep them poor and suckling at the dollar teet.
