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Agreed, although you raise an interesting point. Dollar billionaires stole those IOUs generally via inflation or taxes (cheap credit or tax/regulatory loopholes). While they may not be hoarding those resources, their claims are invalid and shouldn’t be honored

Juraj 6mo ago

Shorting fiat is available to all. That should be considered the baseline position, we should assume everyone with two brain cells do it.

The billionaires had to do something else right. Yes, it's often taxes, essentially re-stealing stolen loot. But unpopular opinion - the money is better off with the billionaires than with the state anyway.

We should also consider the honest billionaires and centimillionaires that are actually the majority. I know a few and very few would even go near state funds.

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CptKook 6mo ago

Therein lies the rub. Cantillonaires rely on govt intervention (violence) to run block on issues like interest rates, minimum wage, licensing, legal tender laws, etc. Whether they know it or not, this is what feeds their power. The process exacerbates economic apartheid across social strata. It makes it difficult if not impossible (in the global south ref. draconian capital controls) for individuals to increase claims on resources

Juraj 6mo ago

Bitcoin fixes this.

I know both categories - cantilionaires and real entrepreneurs.

I know more real entrepreneurs than cantilionaires (but that might be due to my social circle). What is interesting, cantilionaires often can't sustainably build wealth - even using the effect. They often spend more than they earn. And often it is very unstable, one regime change and they lose their income.

CptKook 6mo ago

Good point, I think that’s right for cantillonaires based outside the US