Goldbugs never seem to learn economics. You must continue to debase the currency, else it can't ever work as a currency. It is simple mathematics.
The very thought is blasphemy for the most part of this forum
Goldbugs destroy themselves by trying to impoverish the rest of the world with their egregiously incorrect supply distribution curve. The actual curve of wealth distribution in society is 3% power-law and 97% gas diffusion (because knowledge and initiative is not randomly distributed in the top 3%, as I am demonstrating to you now given I am in the top 3%). If you don't match your supply curve to reality, then you end up with dystopian outcomes or war as society resists what can not be.
The elite know very well they can feed the "gold rush fever" every time and fool the cows to take their money and cause society to have a big problem. Then they come in and fix it with a fiat every time after the goldbugs have destroyed society.
This is interesting - can you explain why the Gold Standard would impoverish the rest of the world? I'm interested because I do read that it doesn't work but I've never heard a compelling reason as to why this would be the case.
Please correct me as my understanding is this: There's not enough gold in the world. Can't pricing be flexible now that we have computers and the Internet? I suspect the solution will require technology of some sort.
I don't have time to write carefully... this will be sloppy...
Start at the following linked post and then read forward in the thread. You may also want to read backwards in the thread for more context. And follow some of the links in the posts for more explanation and data.
https://bitcointalk.org/index.php?topic=195275.msg3350891#msg3350891
The basic point is that capital sitting in a hole FOREVER is theft from production and new knowledge creation. Savings and delayed gratification are important, but they are not so important that capital should grow in value FOREVER for doing nothing but sit in a hole.
Debt plays into this as this is how society forces the capital to move, even it can't get its hands on it. Because the optimum increases in knowledge and production won't occur if capital has all the power.
Yet debt also causes misallocation of capital, so there is ying and yang. Goldbugs want only the yang and want capital to be absolute.
Absolute capital means Dark Ages, feudalism, dying production, dying intellectualism, etc..
Getting goldbugs to understand this is nearly impossible because they can't load the dynamic game theory in their head. They can only see the static notion of their capital is absolute and theirs. They don't understand that No Money Exists Without the Majority.
It will be quite satisfying if even one reader understands and tells me he does.
Debt is not so bad when the base money can't be turned into a fiat, e.g. in the 1800s there were frequent liquidating corrections (thus self-adjusting without getting too far misallocative and out-of-balance) because no central bank could print physical gold to bailout the private banks which were printing gold receipts which depositors were then spending as money. The problem is these frequent bank runs caused frequent depressions and recessions in the USA in the 1800s and eventually JP Morgan was asked to bailout the nation and thus he got the control to create a central bank in 1913. Now with central banks, the world has gone for decades without a correction and thus the imbalances are grotesque and going to cause a massive global implosion when they are finally liquidated.
It is my hope that if we replaced Bitcoin with an altcoin that is more immune to cartels such as JP Morgan, then we could return to the frequent private banks corrections of the 1800s and live in a minanarchist free market again. But realize society hates this, because they want insurance which they believe is guarantee against catastrophic failure by sharing risk, but mathematically it is guaranteed SYSTEMIC failure later. See Taleb's Antifragility math.
If you really want to understand the generative essence of the math, you must really understand why "smaller things grow faster". Degrees-of-freedom is potential energy (proof is some where in the above linked thread). Monolithic capital that is static or only knows how to buy a bond or insurance, reduces degrees-of-freedom, i.e. everything can only move monolithically such as the insurance fund manager's investment decisions.
When I talk modestly, you don't pay attention. When I talk forcefully, you don't read and then try match your beta-male ego to my alpha-male. So what do you expect us elite to do? We have no choice but to manipulate you because you are not rational.
How old are you?
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