And yet some people still don't think capitalism is fcked up. Growth/wealth is the consequence of adding value, if you're just printing money then you're just repeating the mistakes of the Weinmar Replubic in the 20s. A loaf of bread in Berlin that cost around 160 Marks at the end of 1922 cost 200,000,000,000 Marks by late 1923. By November 1923, one US dollar was worth 4,210,500,000,000 German marks. (thx wiki).sionascaig wrote: ↑Sat Jan 14, 2023 9:14 am...... that is worth zero and sell for an immediate profit.
Just because crapto currencies are virtual rather than pound notes it doesn't mean they aren't inflationary, they used to call making fungible "money" forgery rather than entrepeneurialism for good reason. Its not just a bit naughty, if unrestrained it can bring down a whole society. People have their heads so stuck in 2023 that they forget 1923.