Replying to Avatar Aurelius

Bank bailouts do not stabilize the economy as billionaires would have us believe. They shift liabilities onto taxpayers. The financial class who yell “free market” are precisely those who designed a legal system that protects the rich at the expense of the poor.
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₿logging₿itcoin 2y ago

Bank bailouts come from the money printers, not tax payers. The billionaires lile bailouts because because they benefit from the Cantillon effect.

It's socialism for the rich at the expense of everyone else.

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Aurelius 2y ago

Absolutely.

But when I say that bailouts are shifted to taxpayers, I mean in the loss of purchasing power over time. Money printers are just the mechanism through which it is done… so that it can be done without increasing taxes for the bailout.

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₿logging₿itcoin 2y ago

Agreed.