Topic: CNBC: We’re All Slaves to Central Banks THANKS BITCOIN I AM NOT ! (Read 1363 times)
If a democratic government got the power to create his own money without getting any debt (to himself??), centralization could be a good thing. Otherwise it will never be. Fractional reserve system must absolutely be shut down if we don't want to be their slave forever. By chance, we actually have bitcoin to bypass them!
Actually, you have been TAUGHT that deflation is a bad and frigtening thing...
Yes... and perhaps in the case of deflation in an environment where your smallest unit of change can buy more than 1 loaf of bread - it may be a bad thing.
However - the experiment of using a deflationary currency that is also incredibly divisible hasn't really been run.
Bitcoin isn't just deflationary - it's inflationary and highly divisible. I think that makes a huge difference.
Thanks to Bitcoin and precious metals I am not a slave to the central banks.
From the comments and what i find to be true too!
Actually, you have been TAUGHT that deflation is a bad and frigtening thing... But US history tells us that deflation stabilizes prices, promotes savings and sound money, and creates growth that is proportionate to the inflationary policy the Fed has run since 1913. In other words, you were lied to. Just check the numbers for yourself. Deflation is a more sound approach to social fiscal engineering than inflation, but perhaps it would be much wiser to let the market decide, without the gov.
http://youtu.be/q1KnJbBJTE0
Gold (yuck: you get taxes going in and out like there is no tomorrow, at least that is the situation in Europe) or bitcoin (yeah)..
This guy thinks inflation vs deflation is a game of evil dialectics: http://realcurrencies.wordpress.com/2012/01/12/the-inflation-vs-deflation-dialectic/
However, in a free world, this dichotomy probably wouldn't apply anymore, as there would be various monetary systems active at the same time (I believe Gresham's law wouldn't really apply anymore in today's information society). If a scarce, deflationary currency like gold or bitcoin really stifled liquidity, people would probably resort to community currencies and/or a trust-based barter system like Ripple (with hours of unskilled labor as its base unit).
In such a heterogeneous scenario you can then wonder inflation or deflation of what? The question would become irrelevant.
However, in a free world, this dichotomy probably wouldn't apply anymore, as there would be various monetary systems active at the same time (I believe Gresham's law wouldn't really apply anymore in today's information society). If a scarce, deflationary currency like gold or bitcoin really stifled liquidity, people would probably resort to community currencies and/or a trust-based barter system like Ripple (with hours of unskilled labor as its base unit).
In such a heterogeneous scenario you can then wonder inflation or deflation of what? The question would become irrelevant.
From the comments and what i find to be true too!
Actually, you have been TAUGHT that deflation is a bad and frigtening thing... But US history tells us that deflation stabilizes prices, promotes savings and sound money, and creates growth that is proportionate to the inflationary policy the Fed has run since 1913. In other words, you were lied to. Just check the numbers for yourself. Deflation is a more sound approach to social fiscal engineering than inflation, but perhaps it would be much wiser to let the market decide, without the gov.
http://youtu.be/q1KnJbBJTE0
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