Inflation is Theft Governments pretend it’s required, but your living standards tell a different story.
In this episode, economist Karl-Friedrich Israel breaks down exactly how the system extracts from the poor and middle-class.
Links to other platforms: https://linktr.ee/PeterMcCormack https://blossom.primal.net/3a660a3cf54271bf263a8a231b00d0b2b30074869472ee472cf43f3f99375758.mp4
Can’t wait to listen, after being asked a couple of years ago “what is inflation” is sort of a big question I try to understand!!!
You can’t just get rid of inflation in the current monetary system. Great perspective tho, stopping inflation IS a tax on the rich
Theft or slavery…?
nostr:nprofile1qqst5teefqektpr4aytgpwyclxlq78v9q9nvd2pem0sgf5pxdttwyzspzamhxue69uhhyetvv9ujuurjd9kkzmpwdejhgtcpydmhxue69uhk66rsxg6ns7njwp5kjamw9e3kcmmjv43kcmm4vshxuet59ux8qy2n nostr:nprofile1qqsr3gwdr05shx5f35jpthqsrhcgwrc4kuh2y0xmpt0647kgp5p06zgprpmhxue69uhhqun9d45h2mfwwpexjmtpdshxuet56m0w9j
nostr:nprofile1qqs2auxkkgfgylem580xrztp8ek5sf83s86k0vfq2feuz6y4lkhskgcpz4mhxue69uhk2er9dchxummnw3ezumrpdejqzyrhwden5te0dehhxarj9emkjmn9rltx2x nostr:nprofile1qqst5teefqektpr4aytgpwyclxlq78v9q9nvd2pem0sgf5pxdttwyzsppemhxue69uhkummn9ekx7mp0qydhwumn8ghj7un9d3shjtndd9hxguewvdhk6tmwdaehguszlxcxw Inflation/debasement is not theft.
We have to look at the object of the crime to identify its category.
They aren’t taking the dollars out of your wallet.
No property is taken from you when they debase the money.
They are coercively extracting your productive energy, the real value created and stored inside the monetary object.
That’s formal slavery, instead of using physical domination they achieve the same end through monetary manipulation.
The same way murder, unjust taking of life, is murder whether you stab someone with a sword or poison their coffee.
Debasement isn’t like slavery.
It is slavery.
“theft” kind of works as vague rhetoric, a clumsy gesture at something evil, but it’s bad moral philosophy and really misses the point imo
I'm so glad to see Karl on such a great podcast!
Peter was my first Bitcoin podcast I found back in 2020, and Karl is a great colleague with whom I shared some conferences. Debating and sharing ideas with him is always a joy!
When will you have nostr:nprofile1qqsz85wewd25r9h9w93zk7xjewzel50t270zq2vntrpu8r6djql3xlcpzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhggzjew0 on your podcast?
Both Karl and Joakim founded the Austrian Economic Meeting Europe with others, which I attended myself. It's a great conference set-up for Austrian ideas!
If you like Karl, you will love Joakim!
Great show!
So excited to see Karl on your show!
