My aunt recently gifted me some silver, and it's made me rethink the essence of money. Holding this tangible metal evokes a sense of value that paper currency just can't replicate. Though I lack concrete evidence, I can't help but think people might be more motivated if their earnings were in uncorruptible forms like gold or silver, instead of easily manipulated fiat. I'm not a gold bug, and I acknowledge that shiny rocks can’t compete with bitcoin in a digital world, but there's an undeniable allure to rare metals that paper money lacks. It really does feel magical when I hold it.

GM

Gender is binary. It's not a social construct. There hasn't been any recent new scienctific breakthrough that discovered more genders.

If I were to pick the one person that's recently had the greatest impact on Islamic Economics...

And this person actually delivered a product that adheres to the spirit and ethos of Islamic Finance...

It would be Satoshi Nakamoto

Today I feel like giving up trying to explain ‘why Bitcoin’ to my dear family.

They think I’ve been brainwashed… I think they have.

It wasn’t a good discussion.

Maybe I’ll rally, but am so discouraged. 😢

One of the major issues with inflation is that it puts the onus on wage earners to try to keep up. A depreciating unit of account benefits the status quo and puts the burden of negotiation on the one that wants to change it.

For example when Egypt cut their currency in half relative to the dollar over 18 months, every worker now has to try to double their wages or simply accept lower international purchasing power, and of course 99% get the latter.

One of the big narratives in UK and other parts of Europe lately is that they gotta prevent wages from rising too fast lest they cause inflation. But those wages are just trying to recoup some of their losses from inflation. First lawmakers said it was a supply chain problem, then they said it was an oil price problem, and now they say it's a wage problem, but ultimately it's a quantity of money problem (and an energy insecurity problem).

A lot of people change jobs unnecessarily just because that's how they get wage increases. Wages become "sticky" and so rather than moving up wages in place rationally to keep pace with inflation and the worker's own increased productivity, workers have to change jobs for no other reason than to reset the anchoring bias.