Well, the price of steak in banker's permission slips went up 22%...

I think Bitcoin is giving true signal.

We also have to factor in the fact that destruction, waste and chaos are inflationary forces even for hard money. The real deflation is when the world actually gets richer in real terms, while the money stands firm.

All the destruction of fiat malinvestment... waste, destruction and chaos will sap out real wealth gains for now. Bitcoin is more like a lifeboat when the fiat world is still crumbling. But it truly takes off as a deflationary rocket when real wealth creation takes over again.

We're in our benedictine phase. Charlemagne is yet to come.