A topic familiar to Bitcoiners, but it's a well told coming-of-age story for those new to the subject of monetary debasement.
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21 sats \ 3 replies \ @SimpleStacker 11 Nov
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Ok at least he mentioned it once. But it really should have been talked about a lot more
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251 sats \ 2 replies \ @brentkearney OP 11 Nov
There are plenty of articles about Bitcoin in the topical echo-chamber. I appreciate that this isn't one of them. There are far too many people who hold negative opinions about Bitcoin, and therefore do not read articles about it. This article is for a wider audience, on the more general subject of broken money. A lot more people are concerned about money in general, than are interested in Bitcoin specifically. Some readers may find their way to Bitcoin by learning about what is wrong with the fiat money system. It's a great approach, IMO, and there should be more of this type of content.
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71 sats \ 1 reply \ @SimpleStacker 11 Nov
Yeah, that's fair.
My only concern is that sometimes when people get blackpilled about the monetary system, they turn towards destructive ideologies like communism. That's why I always look to see whether Bitcoin is mentioned whenever people realize the dysfunction of the current monetary regime.
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0 sats \ 0 replies \ @Solomonsatoshi 52m
The mixed economy is proven the most productive throughout history.
Neoliberal Libertarians forget this and have condemned western civilisation to subjugation as a result.
Wake up and realise that governments play a major factor in the wealth of nations and that free markets alone do not deliver the best results.
All successful economic systems have been a combination of state led planning and strategy and private enterprise.
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21 sats \ 0 replies \ @BeeRye 11 Nov
"Yet no one ever questions what this currency is."
Some do...
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0 sats \ 0 replies \ @Solomonsatoshi 43m
Fiat money can only be justified if it is used to direct capital toward assets and infrastructure that are likely to increase the net wealth and prosperity of the economy as a whole.
But what has happened since the neoliberal 'reforms' of the 1980s is that fiat money debt issuance has moved hugely toward issuance of capital for directed toward speculation on asset prices.
This simple fundamental truth is ignored by most commentaries on the topic...especially from Libertarians who usually completely completely ignore this because neoliberalism is their ideological progenitor.
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0 sats \ 0 replies \ @j7hB75 8h
I read this article and nothing really stood out as ground-breaking. For the working class, we all know we're small cogs in a money machine. The whole inflation is actual currency debasement debate is fair, but why? Prices rise for a number of reasons, like natural disasters, disease, etc. This doesn't mean the currency is being debased, but more of a supply/demand problem. Just felt like this article didn't go deep enough and just said things some of us already know.
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0 sats \ 0 replies \ @grayruby 11 Nov
Good for you. Not too late.
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