This,

All in 3 books

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I would explain the monetary debasement in terms of time preference. Money printing destroys our savings, which in turn reduces our ability to plan for the future. Less savings = Less investment. This gives us high time preference and we only think about the present instead of the future. We therefore make decisions that discount the future for the present. Applies to both individuals and businesses.

I'd say that's a very good summation. 🍻🤘

there is some truth in there

Yes. Endless money printing is a hidden tax. I mean, it’s basically theft since it’s hidden. It disproportionately affects people who don’t own properties and securities, but ultimately affects everyone because everything starts to break apart.

Pretty sure devaluing labor is the biggest problem businesses face. The businesses that pay better than everyone else do better than everyone else, because everyone wants to work somewhere that they can afford extras and feel appreciated.

Love this part:

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I often try to explain how deep the rabbit hole goes in this fashion - but my orange pill rate is horrible. 😭

Spot on

I still think that to gain knowledge and understanding about these systems, there are a couple of documentaries to watch:

- Enron ('The smartest guys in the room')

- Zeitgeist (all)

- VPRO Tegenlicht / VPRO Backlight (quants, flash-crash, and there are a few more)

They illustrate, each with their own focus, how things really work.

Fiat ruins everything

#Come in! We will be happy: https://linuxtosha.ru/

“Money doesn’t bring happiness. I have 50 million now, but I’m just as happy as when I had 48 million.” Arnold Schwarzenegger

If your friends understand this key message.. lucky for him