The Problem with Jeff Booth's Deflationary Thesis (The Price of Tomorrow)

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Hubertus Hofkirchner and I explore the limits of a purely deflationary Bitcoin standard, why falling prices don’t always mean progress, and the critical difference between price deflation and monetary deflation. Hubertus explains the historic consequences of inelastic money, the role of credit in industrial economies, and why even sound money needs a flexible layer to keep trade alive.