Quote from: elegion on November 24, 2017, 03:46:58 AM

Quote from: VTOS.IO on October 22, 2017, 03:37:20 PM

I talk to big economists they say Is only a Bubble my thought Is no bitcoin Is revolution of economy even doesnt have a background like gold the value Is power of the people what do you think?

I'm surprised that they're even mentioning Gold all. Many of these economists come from an entirely different school of economics, which is called Keynesian economics which is based on the total spending in the economy and its effects on output and inflation which was created by John Maynard Keynes. When they're talking About gold and Bitcoin they're referring to Austrian Economics which is something that they don't like, but it makes the most sense. To put it simply Keynesian's believe that money in the form of paper can be printed indefinitely (like it is today) out of thin air and that market conditions can be artificially created, in my view it is a completely irresponsible way of managing an economy, and because of this irresponsibility the world economy is now due for a correction, a correction that may very well cost us all our lives

I guess this is not what Keynesians actually say

In fact, all major schools of economics (well, at least those that I'm familiar with, and yes, I'm familiar the Austrian school of economic though) say essentially the same thing, i.e. that the amount of money in circulation should match the size of the economy. Whether you can print out your way from the economic recession is another question, and opinions vary. But personally, I'm inclined to think that in certain situations printing money can in fact help the economy. Obviously, it has it limits, but, on the other hand, everything else has its limits as well beyond which the results may be counterproductive. This is called optimal value