yes, we agree that this type of game is a clearly Ponzi scheme, there is no discrepancy in our posts. The Keynesian economy is based on the assumption of the unending growth as a remedy for everything, and thus the need for creating it artificially leads to what FED does - money printing.
Each government can do that on the smaller or bigger scale, the impact of FED printing press is by far the biggest, due to the dominant position of US economy.
Each government can do that on the smaller or bigger scale, the impact of FED printing press is by far the biggest, due to the dominant position of US economy.
Keynesianism relies on the fact that the economy can outgrow debt, which is silly.
It is silly because the GDP grows linearly, but the debt grows geometrically or even exponentially, thus it is by definition a ponzi scheme by design.
There is no doubt about that.
If you design a 1000$ ponzi scheme, you go to jail. If you design a 1000 billion $ ponzi scheme, you get nobel prize in economics
Not so sure about that, some of "government people" will prevent any of ponzi scheme (either with design or not) I know all country have their own currency and print out their fiat money selves. But economy is not simply as print money out.
One thing that makes bitcoin acceptable and spread worldwide, "Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country's central bank or government."