If a nation state has a sound money currency, does that mean it’s manufacturing sector is at a perpetual disadvantage to fiat money states?
If so that is sad. I like Bitcoin AND manufacturing!
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Completely false. Germany & Japan dominated post WW2 industrialization with strong currencies, as does China now. The industrial revolution happened on a gold standard. Switzerland stayed on the gold standard and had the highest productivity in the world. The idea that destroying your currency creates industrialization is another criminal fiat lie to promote inflation and benefit parasitic scum. It's the equivalent of telling you that selling your work tools will increase your revenue and raise your productivity. You're destroying your capital stock and devaluing everyone's wealth, forcing them to sell more to survive, and then taking these added sales as a mark of success rather than criminal theft.
I’ve missed you. Love your straight talk. 😂
that’s a such a great analogy
Postwar Japan and Germany were pegged to the USD after Breton Woods and until 1971z China is still pegged to the USD at an artificially low rate. Calling them “strong currencies” is not being intellectually consistent. Also consider that during the 1800s all major industrialized countries were on a gold standards and I’m talking about the relative strength of currencies.
It seems that a relatively stronger currency just means that a country’s manufacturers have to continually move up the value curve to compete. A hard money results in higher “natural” interest rates, which requires higher ROI investments (aka actual productive investments of debt), which then lead to higher capital formation, and finally higher quality, more complex manufactured good.
In other words, a country on a Bitcoin Standard is going to be making chips and spaceships, not plastic widgets.
Would we already be on Mars if not for Nixon closing the gold window in 1971?