One Way Ratchet

10 Things You Need To Know About Bitcoin #2: Inflation Is Theft | 014

Episode Summary

Inflation is stealing your time and purchasing power. And it's intentional.

Episode Notes

In Part 2 of the series, Dan and Trent examine the impact of money printing.

Episode 2: Inflation Is Theft

• In Part 1 we looked at the Mo Money part of the equation
• Part 2 explores Mo Problems
• Money printing bails politicians out of their terrible decisions.  And we have to pay the cost
• It creates inflation.  More units of money just cause prices of everything to go up.  Your dollars can buy less and less all the time
• Inflation is theft.  It makes you work harder and harder for less.
• Money printing is an insidious game.  It impacts the people the most who can afford it the least
• What else does it do?  Drive up asset prices.  And rich people own all the assets
• This is by design.  Designed by the rich and powerful
• Throughout time, there was very little inflation in places with no money printing
• Societies flourished under a gold standard when governments could not print endlessly
• Today's song: Mo Money Mo Problems by The Notorious B.I.G.