Can someone help me? what does George gammon mean at 48:27 when he mummbles "or velocity" for trying to pay back the debt burdon? nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe
Discussion
Years ago, I said that velocity of money can be almost unlimited on a Bitcoin standard. He was probably referring to that.
I see, but infinite velocity on bitcoin wouldnt help with repaying the debt burden would it?
Also big fan.
I'm school girl giggling actually talking to you.
😂 - correct to it not helping pay the debt burden.
The unlimited velocity of it removes an anchor to existing system and ensures far less debt for a productive economy.
Besides that, the debt of the fiat financial system is artificial and based on a lower cost of lending than a hard money economy would be. Thus the burden is also lower by this fact also.