>>13547323Fundamentally when money is cheap to produce(fiat on a computer) then everything goes up in price. You get a lot of money and a scarcity of goods because it pays to just live in a way that extracts money from the printer like the government or finance or corporations that borrow at near zero rate.
Why should people trade their time and effort for money when money can be created for zero time or effort?
Naturally you eventually run out of suckers in the economy and a scarcity of goods and services ensues.
The golden age of the west was all under a gold standard. When people can earn, save, invest and plan for the future with sound money that can’t be made out of thin air then everyone must be productive.
Gold has been warehoused and captured by the system. Paper gold trades more than real gold. This is why a lot of Bitcoin advocates hope it will fix the money and fix the world. No one can debase bitcoin. You can easily custody your money. Trust is not needed.
