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.
Thanks to the Fed's monetary gyrations, we are seeing the yield curve acting abnormally. However, one cannot get something from nothing and market forces ultimately will frustrate the Fed's designs.
Academic economists since John Maynard Keynes have mocked the classical gold standard, but when government implemented their system, we got inflation and destruction of the currency. Time to rethink the success of that gold standard.
Paul Krugman recently wrote that the reason we see high inflation is that people mistakenly believe inflation is in our future and act accordingly. This reasoning is false.
Despite assurances from politicians and the media, the Federal Reserve System is not a collection of geniuses who stand guard against inflation and recession. Instead, think of the Fed policy makers as the Keystone Cops of central banking.
The "experts" solemnly tell us that deflation is even worse than inflation, and that deflation always will lead an economy into recession. The truth turns such "wisdom" upside down.
