> Inflation is not just an increase in the base money supply.
Actually it can. During WWII, Germany was trying to make enough counterfeits and launder it to destabilize the allied powers' currencies. Many third world countries ended up remaining poor because their political leaders printed as much money as they wanted.
> But the gold standard has almost exactly the same properties as bitcoin, and gold-backed currency worked okay in the US for a long time.
God only filed some of the gold under the ground in the USA. He filed the rest of it elsewhere. The currency would then be based upon how much gold was mined and third parties could potentially be in control of the US currency.
As one freshwater economists argued: "Why gold? Why not french bordeaux?"
Actually it can. During WWII, Germany was trying to make enough counterfeits and launder it to destabilize the allied powers' currencies. Many third world countries ended up remaining poor because their political leaders printed as much money as they wanted.
> But the gold standard has almost exactly the same properties as bitcoin, and gold-backed currency worked okay in the US for a long time.
God only filed some of the gold under the ground in the USA. He filed the rest of it elsewhere. The currency would then be based upon how much gold was mined and third parties could potentially be in control of the US currency.
As one freshwater economists argued: "Why gold? Why not french bordeaux?"