Inflation, or manipulation of the money supply to the benefit of the politically well connected, is quite possibly the most pervasive frauds of modern society. It creates multiple layers of compounded resource misallocation, it benefits the debtors and manipulators at the expense of savers, it puts a constant downward pressure on living standards, and it enables more unchecked corruption and abuse of power than any other aspect of our political systems.Read More
Category: Game theory
“Value is a strange concept because while it is arguably very real, it is entirely subjective, and because of this there is no yardstick or kilogram to measure it against.” – Knut Svanholm
Another from the amazing collection over at Citadel21.com , we dive even deeper down the rabbit hole with Knut’s piece. What does it even mean to measure value with Bitcoin as our totem? What happens to prices in a perfectly finite monetary good? What would a future where the growth and productivity of the economy were captured by the money, rather than stolen by our money masters?