In the face of the coming hardship, central bankers and globalist institutions are going to demand more power to respond to the crisis they created. Bitcoin gives their political opponents a weapon against them.
Popular economic wisdom says central banks can counter harmful effects of inflation by raising interest rates. Unfortunately, such moves carry their own forms of misallocation of resources and capital.
Since the early 1960s, African nations have gained political independence from colonial powers, but the monetary colonialism of fiat money continues.
Propping up congressional deficit spending, juicing equity markets, and constantly recapitalizing commercial banks are the Fed’s true mandates.
Fed chairman Jerome Powell recently claimed they were "targeting" the "neutral" interest rate. The Fed cannot set or even know that rate, for it doesn't come from government authorities.
Typical economic commentary claims that deflation is a Very Bad Thing. Think again.
In the face of the coming hardship, central bankers and globalist institutions are going to demand more power to respond to the crisis they created. Bitcoin gives their political opponents a weapon against them.
While economists and journalists are fond of saying inflation is "X" percent, in reality, the price indexes don't measure inflation accurately. Instead, they are statistical constructs created to benefit the government.
It is the fiat monetary system itself, not deflation, that helps create the unstable conditions that lead to financial crises.
The typical mainstream economic view of interest rates ignores an important factor: individual time preferences.
