Poor people won't buy Bitcoin or pay debt. They are poor for a reason.
Nature is not only roses, the moment you try to bandaid nature's thorns you're caught up in... this, basically. Bloated governments on their way to collapse. Not easy to say but true.
A lot of my friends are poor and own Bitcoin. Under sound money people are deterministically poor for a reason, but under a fiat standard it’s much more likely that they have poor credit or a lack of family assets. I agree that many people put themselves in poverty, but it’s naive to assume that this is always the case under our current system.
No, my comment was not meant at individuals. But on a wide scale, printing more to give to poor people makes their income less meaningful and makes them more dependent.
Poor people on the way up don't need those tricks. Just give them a tax break.
You’re right. All I’m saying is that printing has the exact same effects on rich people, companies, and governments in general. I gives them no incentive to be productive, makes their income less meaningful, and makes them more dependent. I am very sympathetic to the poor worker who has gotten fucked by the system of “Bailouts for the rich, robust capitalism for the poor.”
All money printing is bad, but I hold nothing against people who call for broad money printing, since there is already so much targeted money printing anyway.
Hmmm.. I hadn't really thought of accelerationism before. It's not my currency, so I don't care too much how fast it breaks. People can vote for it but without the Central Bankers to finance it, it'll get nowhere, and I don't see them signing off on it.
But it's not the same effect when you get the money before it's lost purchasing power, you are not reliant on fixed income, and you have hard assets that are resistant to inflation.
The government is a give and take, it's all about who gives more and who takes more. Can't just look at who pays most taxes...
Anyways, thanks for the convo. ✌️ Have to wrap this up.
Thanks for the discussion, friend 🧡
