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0 sats \ 4 replies \ @TomK 11 Apr \ parent \ on: The Unignorable Shortcomings Of Austrian Economics bitcoin
Ok, so what can we do now? Imo monetary unions simply don't work because of productivity divergencies as history proves. And btc still is nowhere to be seen here, neither as collateral nor as medium of exchange
Ok, so what can we do now?
We should continue to adopt a currency as strong as possible by as many sly and roundabout ways as it takes.
Imo monetary unions simply don't work because of productivity divergencies as history proves.
Yes but the problem is on the other end: euro is weaker than German mark was, so euro is a strain on the more productive economies. Of course there's a political idiocy problem too in the South when politicians say "wait, people are actually willing to lend us money now? mwahahahaha let's borrow up to our eyeballs and then some more". But that doesn't mean that strong currency is bad.
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Right. Maybe I expressed myself badly. If course a stable currency is needed. Therefore we are bitcoiners. I should perhaps have expressed it in such a way that I should have woven it into the Fiat ponzi context. This is where currency unions of different productivity economies cannot work. That's what I wanted to express. That's sometimes you just forget to switch back and forth between the two fundamentally different systems. But you're absolutely right.
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I should perhaps have expressed it in such a way that I should have woven it into the Fiat ponzi context. This is where currency unions of different productivity economies cannot work. That's what I wanted to express. That's sometimes you just forget to switch back and forth between the two fundamentally different systems. But you're absolutely right.
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