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You’re making 2 big assumptions here:

1. That price inflation is caused only by an increase in the money supply vs. supply-demand imbalances

2. That there’s no benefit to you and me from government spending

Even if we were on a #Bitcoin standard, what would stop the egg producer from charging you 250 sats for a carton of eggs to 500 sats? Would the egg producer be “stealing” from you too?

Zach 2y ago

I said it was an oversimplification. Maybe to the point that it’s not a useful analogy (?) - but you asked what they meant. I think that’s what they mean when they say that.

I understand that you can price inflation under any monetary system.

I’m not seeing how (2) is relevant though. If there’s benefit to theft, it doesn’t take it not theft. If you steal five dollars from everyone and put in a park, it doesn’t mean you didn’t steal five dollars.

Maybe the best good-faith way to put it is this: The “theft” is the extent to which monetary inflation causes the non-consensual decrease in buying power of the monetary energy a citizenry has accumulated.

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Discussion

Squirrel Master 🐿️ 🇮🇱 🇵🇸 2y ago

My point 2 was because you said “they’ve taken $2 in buying power from you.” That implies government spending is a zero-sum game where some mysterious “they” is feeding off our hard-earned money, while I would argue it’s not.

Keystroke 2y ago

"They" are the government. And they are not that mysterious. Or would you disagree? Are you trying to make #[5] look like a conspiracy theorist, because your arguments lack common sense?

Squirrel Master 🐿️ 🇮🇱 🇵🇸 2y ago

I was just objecting to the implication that taxation for the purpose of govt spending is zero-sum. Fortunately we don’t live in a society where government officials simply pocket our tax dollars for their own personal benefit. And if they do, they go to jail.

Keystroke 2y ago

He never implied that. You just assumed the implication and you still do after he refuted it plainly:

"I’m not seeing how (2) is relevant though. If there’s benefit to theft, it doesn’t take it not theft. If you steal five dollars from everyone and put in a park, it doesn’t mean you didn’t steal five dollars. "

Squirrel Master 🐿️ 🇮🇱 🇵🇸 2y ago

If you guys wanna call taxation “theft,” be my guest. I’d call it part of a social compact

MasterPlanner 2y ago

Lol a social compact that you get thrown in prison for breaking if you disagree with.

And there’s no opt out.

Kinda like slavery was a social compact yeah? Lmao

Squirrel Master 🐿️ 🇮🇱 🇵🇸 2y ago

Yes. Taxation is just like slavery. How ignorant of me to not realize that. Thanks for enlightening me

Zach 2y ago

I’m confused, friend. I never said taxation was theft. I don’t think it is. In fact, I used taxation as the case in which government collecting money from its citizenry is explicitly *not* theft. It’s based, in principle, on the consent of the governed.

Happy to give you the last word here. 🍻

Squirrel Master 🐿️ 🇮🇱 🇵🇸 2y ago

Ok. But I still don’t see how expansion of the money supply is “theft.” For example, the money supply increased dramatically after the pandemic. But was that “theft” or a necessary step to rescue the economy?

Zach 2y ago

Right. I don’t think I implied that. If i did, then I certainly didn’t mean to.