Takes a bit of 1st principles thinking about what money is to switch the mindset.
Discussion
My take is this. The best money for the individual is hard money. The harder, the better. Society is made up of individuals. So asking what is best for society is unnecessary.
Everything. EVERYTHING else is a scam to take money from one individual and redistribute it to others.
Human beings are ants or bees. This is the real war. The West vs the East.
Individualism vs. Collectivism.
Freedom vs. slavery.
“Elasticity” is just a scam word to steal an individual’s money. It’s very simple. But not easy to understand.
I think I agree. I really have to dig into austrian economics. It makes sense that hard money is best.
Money can now travel at the speed of light, but understanding doesn’t. It took me two years of intense studying, reading, and soul searching to finally get a grasp. And there is so much more to learn.
The Austrian economist don’t all get it either m, because in their framework money must start as a useful commodity. Like gold. ₿itcoin is ONLY money. No other use at all. So even they don’t get it, because tgey ate missing the technology, cryptography, game theory components.
Yes, I also listened to Breedlove & Boyapati today. But the other day I listened to WBD Live in Miami with Lyn Alden & Jeff Snider and Jeff argues that an elastic money supply is better. I guess there are arguments to be made why that's true, but my main objection is that you always need an entity that controls the money. And we know how well that works. I was thinking about a theoretical option, which would be total surveillance of every aspect of our economic life and an AI managing the money supply. Which is obviously bullshit in a lot of ways. So the only way, in my opinion, is to have a fixed supply that nobody can mess with, just from looking at it from that angel.