Bingo. With credit money, it is impossible to have an efficient market as producers cannot differentiate between credit money entering the system or savings entering the system to signal a change in consumers’ savings vs consumption preferences.
Fix the money, fix a bunch of shit.
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No doubt. The events of the past week have just made it obvious to a group of folks that probably will never study Austrian economics in any meaningful way.
People do best with IRL lessons. Many more to come.
That is a certainty.
