Money is not wealth. It is a claim on wealth. Fiat tricks the market into believing there are more claims than actually exist. Or worse, that there is more wealth than actually exists.
Discussion
Max Keiser talks a lot about price discovery. Fake money creates a confused market where nobody knows what anything is really worth. Sound money fixes this = BTC.
Exactly. Because before ₿itcoin the unit of measurement was constantly being changed by the whim of a few central planners.
Agreed but you’re talking in the future. Last I checked gas prices, mortgage rates, etc etc are still based on words from the TV from some gray haired guy in a suit.
I think money in and of itself is meaningless. Wealth is accurately measured in capital, and they are certainly not the same thing, contrary to widely held beliefs.
Yes. Capital misallocation is the fiat way which destroys wealth.
Allen Farrington was just saying this today on what bitcoin did.
