Socialists? They're bankers FFS. Specifically, two employees of the ECB.

They don't explore the point "who benefits from the debasement of fiat coin?". Oh wait, I guess it's the early holders (of fiat), at the expense of the latecomers (the plebs).

No need to mention that with bitcoin the appreciation is automatic, because mr. Market does what it does. With fiat, the debasement is artificially kept up by more printing by... wait who is it? Ah, the banks - especially the central banks like the ECB. Hm, I see.

Besides, I've checked: their paper hasn't been "published". It is up for peer review. SSRN is just a repository of papers in the domain of the social sciences. Those papers are uploaded by the authors - not by the journal reviewing them for possible publication. On the contrary, the journals often ask for removal of a paper after it's published because they need readers to pay.

I hope they get ripped a pair of new ones in the review process. All it takes is one Austrian School economist in the reviewer panel (usually 3 reviewers), or someone with some sense, or someone without their head looped into their ass under the roof of a central bank. Or a coiner.

I haven't found out if it's possible to monitor the progress of a paper from there, but I doubt it is. It would be nice to see if/when/where it does get published, and how many changes it goes through. It sure belongs more in speculation/political commentary than hard economics.