If you’ve followed nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a for a while, you know how she compares our current economic environment to the 1940s.
In the 1940s, like today, the US had unsustainably high debt levels. To reduce the debt burden, it created high inflation and essentially devalued the currency, stealing from savers.
In the 1940s, there weren’t many ways to escape the silent devaluation. In 1933, the government had banned citizens from holding gold which likely closed off an important escape route.
Today, the ETFs exist. Now, when the government tries ye olde financial repression playbook from the 1940s, the entire country can buy bitcoin to escape the devaluation.
How will the government respond? Will it seize bitcoin like it did with gold? Will it block self-custody and raise taxes on the ETFs? What else might it do?