Bitcoin or: How I Learned to Stopped Worrying and Love the Debt

Tick Tock goes the debt clock! $ 22.1 Trillion and Counting

"Bitcoin or: How I Learned to Stopped Worrying and Love the Debt"

The crash that everyone seems to be predicting as a foregone conclusion will not happen in 2020 or in the next several years for that matter.

The economic downturn already happened in 2018. That was the markets taking a breather from this historic run on all assets.

Our financial system has not been systemically improved since 2008/9; it is still a house of cards dependent on debt slaves taking on more obligations and not defaulting. However the environment in which that house of cards is built has somewhat shifted.

It is now all but decided that inflation and low/negative interest rates will be used to prop up the markets.

Why do I believe that is the case? For many reasons.

First and foremost the beneficiaries of inflationary QE style stimulus is almost everybody, at least in the short term.

  • Inflation reduces the burden of past debts; so debtors benefit from inflation

  • Inflation increases the value of assets ; so wealthy people benefit from inflation

  • Inflation increases economic activity; so there are more jobs

When you don't consider the long term ,macro economic, or geopolitical effects of inflation it seems to be a good thing that benefits everyone.

We've talked about how Inflation is the culprit behind excessive warfare, how inflation steals from wage slaves, how inflation created an unsustainable global economy, how inflation is destroying the environment, etc. Inflation has created the hellish circumstances our future generations will face. But its important to remember that "The Road to Hell is paved with Good Intentions".

Even though inflation is inherently evil (in the sense that it is creating the conditions for the greatest starvation event the world has ever seen); the immediate effects of inflation are positive for everybody except those who store their value in fiat currencies.

If it weren't for the fact that inflation funds wars and creates an unsustainable global economy; there is nothing inherently evil in wanting to smooth the boom/bust cycle. Its just that in reality humans have always abused this power, to everyone's detriment. Just like there isn't anything inherently evil wanting a benevolent communist government to centrally plan,increase efficiency/quality of life for its inhabitants, provide basic services for free. Its just that in reality people shouldn't wield that kind of power. People make mistakes, and people are selfish.

Anyways; currency inflation can be maintained for decades , maybe even longer, if managed in lock-step with other major currencies.

There is no reason we couldn't see a gallon of milk going for $ 50000 and average salaries in the hundreds of millions/billions. The issue would be if other economies don't inflate at similar rates they can gain purchasing power over us. So major economies just need to inflate at roughly similar rates and they can keep this game going as long as the people let them keep going.

And the people will let them keep going; because those who are most negatively affected by these policies literally have no idea that these policies are affecting them. Those who are most aware of these policies are in a position to take advantage of them; so they root for it.

Look at what is going on in the world around us. Global events, politics, the news. Its all so dramatic and confusing. I believe that we are in the midst of being pulled through the eye of a needle. The world is changing rapidly right now and most are too distracted by the media circus to take note. These are deliberate distractions, not necessarily manufactured, but exaggerated greatly.

I suppose its more comforting to be distracted than to see that the global system which has kept the order for nearly 80 years is being radically re-negotiated , without input from the people. It would be hard for the masses to keep going through the motions if they knew the magnitude of changes they may soon be facing.

submitted by /u/45sbvad
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Bitcoin – The Currency of the Internet

The World Bank stopped tracking inflation in Zimbabwe in November 2008, when it reached 79.6 billion percent. One year later, the country abandoned its currency. The exchange rate at the time was $35 quadrillion Zimbabwean to $1 USD…. inflation kills!

The World Bank stopped tracking inflation in Zimbabwe in November 2008, when it reached 79.6 billion percent. One year later, the country abandoned its currency. The exchange rate at the time was $  35 quadrillion Zimbabwean to $  1 USD.... inflation kills! submitted by /u/Crevative
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Bitcoin – The Currency of the Internet

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