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I think that makes sense. But it seems like - and please correct me if if I’m wrong - you are equating “money printing” to inflation in consumer prices and I’m not sure that there’s a direct causation between those two things. (Money printing meaning, in part, the increase in the M2 money supply). At least that was my understanding from Jeff Snyder when he described inflation versus “money printing” and the Eurodollar. Are you familiar with his framework for inflation, the macroeconomy, and the Eurodollar?

Guy Swann 1y ago

I’m saying the opposite: They are trying to hide money printing by saying the only thing that matters is consumer prices. My argument is that the arbitrary creation of new money is the entirety of the problem, and the only thing that matters to measure.

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Zach 1y ago

Yeah, I think Snyder’s view is nearly opposite. Although “opposite” implies two possible answer at different ends of a spectrum and it’s not really that. Anyway, he would argue that the FED can’t “print” money. Mostly what gets “printed” ends up on bank balance sheets but doesn’t make it out into the real economy.

Are you familiar with his thoughts on this? He had a discussion about this very thing at last year’s Bitcoin conference with nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a .