3. Endgame for the US Dollar
I'm actually thinking about the opposite result. If the debt is slowly paid down over time, the amount of currency in circulation would slowly diminish over time, resulting in higher purchasing power per unit, which would try to keep up with the deflationary aspect of Bitcoin itself. It wouldn't be 1:1, but it would be deflation. I know that most economists claim that deflation is a bad thing because if money is going up in value and purchasing power people might decide to delay purchases today because they might be able to get more tomorrow, but I believe that kind of slowdown would not be catastrophic but a worthwhile exercise to help determine what goods and services people actually want instead of just buying because they know that prices are going up. Maybe people would want to buy quality more. Maybe manufacturers would want to MAKE quality goods and services again because they know if they don't customers won't come back or will wait until someone offers something better.
In the 1920's and 30's, Germany printed their currency because they were trying to pay off the debts from WWI. It was a disaster. I'm not suggesting that we print our way out of this, I'm suggesting that we actually think our way out of it.
chadlupkes / Chad Lupkes
npub1mu…wcnel
2024-12-24 17:28:42
in reply to nevent1q…v883
Author Public Key
npub1murdy8k20svu38g9f9jt9k0rqkjzt677x3qrev88je4gw2erqk8scwcnelPublished at
2024-12-24 17:28:42Event JSON
{
"id": "6bafa482d579c36b12053b7442ddf582f8ea06d18ff70fb814c56f13ea2cac2a",
"pubkey": "df06d21eca7c19c89d054964b2d9e305a425ebde34403cb0e7966a872b23058f",
"created_at": 1735061322,
"kind": 1,
"tags": [
[
"e",
"8989d5803c592192e3ff52df652c6e9297bc90c3b2f4690337c79b6927ce28b5",
"",
"root"
],
[
"e",
"4f6dbd58514280ec398ab7f28880f2d538fc9dc876d3c6f61ab38a48c9f9ac5f",
"",
"reply"
],
[
"p",
"df06d21eca7c19c89d054964b2d9e305a425ebde34403cb0e7966a872b23058f"
],
[
"p",
"a796d659a119be3a940099eb61afbe1f7d9102e3506fe06f4162c6f3ae499692"
]
],
"content": "3. Endgame for the US Dollar\n\nI'm actually thinking about the opposite result. If the debt is slowly paid down over time, the amount of currency in circulation would slowly diminish over time, resulting in higher purchasing power per unit, which would try to keep up with the deflationary aspect of Bitcoin itself. It wouldn't be 1:1, but it would be deflation. I know that most economists claim that deflation is a bad thing because if money is going up in value and purchasing power people might decide to delay purchases today because they might be able to get more tomorrow, but I believe that kind of slowdown would not be catastrophic but a worthwhile exercise to help determine what goods and services people actually want instead of just buying because they know that prices are going up. Maybe people would want to buy quality more. Maybe manufacturers would want to MAKE quality goods and services again because they know if they don't customers won't come back or will wait until someone offers something better.\n\nIn the 1920's and 30's, Germany printed their currency because they were trying to pay off the debts from WWI. It was a disaster. I'm not suggesting that we print our way out of this, I'm suggesting that we actually think our way out of it.",
"sig": "54534ac2cdc65606c8b1767111c475f64c6327892e550a7730a86aebf80c76f4512a1681ba76114c6c4271df10b46ca8f8d1f56f541614c299fb227086389739"
}