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feld (feld@bikeshed.party)'s status on Monday, 08-Jan-2024 04:35:33 JST feld
in reply to
@worik @acdha @drwho @iagox86 @lcamtuf calling the USD that has lost 98% of its purchasing power since 1971 "stable" is gaslighting

Isaac Newton set the price of the British Pound and it held stable for 200 years. That is the real definition of a stable currency.

In conversation about 11 months ago from bikeshed.party permalink
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- Worik (worik@mastodon.social)'s status on Monday, 08-Jan-2024 04:35:34 JST Worik
  in reply to
  @feld @acdha @drwho @iagox86 @lcamtuf
  > The government should *not* have absolute control over currency issuance like this. It always ends in disaster. The American founders knew this and warned about it.
  The current iteration of the USA$ has been very stable, through crashes and booms
  A central bank setting rules for credit creating independent banks turns out to work better than anything ever tried
  Who else but the state can set those rules?
  
  In conversation about 11 months ago permalink
- feld (feld@bikeshed.party)'s status on Monday, 08-Jan-2024 04:35:35 JST feld
  @drwho @acdha @iagox86 @lcamtuf anyone who thinks the world economy is going to be based around a sending/receiving currency day to day that cannot be recovered in fraud situations is insane. The world is too complex. We need layered money. We just need to fix the layer that allows the government to cheat us. The government should *not* have absolute control over currency issuance like this. It always ends in disaster. The American founders knew this and warned about it.
  
  > Jefferson to John Taylor in 1816: "And I sincerely believe with you, that banking establishments are more dangerous than standing armies; & that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale"
  
  In conversation about 11 months ago permalink

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