Know Thyself | Everything Voluntary✌️ | Follow the Tao
Michael Matulef @Michael Matulef - 9mo
The Future of Bitcoin Banking with nostr:npub1m7fjc8z7t00jzrgkfm4kzvnv4chf04rq9ykpke0rpe0ke2kud24qmg0l4p Yakes nostr:npub1r8l06leee9kjlam0slmky7h8j9zme9ca32erypgqtyu6t2gnhshs3jx5dk 🤙 https://fountain.fm/episode/W61PZf3GoRBXC2ceMbu3
🤣☯️ https://youtu.be/WB27bqr7kJQ
Do you have the patience to wait until your mud settles and the water is clear?
This is the Way
There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true. - Soren Kierkegaard
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https://twitter.com/NSKinsella/status/1763253639060103366
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The real cost of the State is the prosperity we do not see, the jobs that don’t exist, the technologies to which we do not have access, the businesses that do not come into existence, and the bright future that is stolen from us. The State has looted us just as surely as a robber who enters our home at night and steals all that we love. - Frederic Bastiat
Does Libertarianism Require Support for Open Borders? https://fountain.fm/episode/7spenQfaRRjFUaezJ9pj
nostr:npub1hw4zdmnygyvyypgztfxn8aqqmenxtwdf3tuwrd44stjjeckpc37q6zlg0q Chat_093 - P2P Payments for the World with nostr:npub1ey6qdmvzcgcsr883m9nspzz0mm037l26xtardzcskfsvc6gc7jssm9szvp Sheinfeld nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev 🤙 https://fountain.fm/episode/I5HKztI5HTNVW0vTPsEe
Basic Economics https://www.amazon.com/Basic-Economics-Thomas-Sowell/dp/0465060730
The crucial role of prices is in tying together a vast network of economic activities among people too widely scattered to all know each other. However much we may think of ourselves as independent individuals, we are all dependent on other people for our very lives, as well as being dependent on innumerable strangers who produce the amenities of life. Few of us could grow the food we need to live, much less build a place to live in, or produce such things as computers or automobiles. Other people have to be induced to create all these things for us, and economic incentives are crucial for that purpose. As Will Rogers once said, "We couldn't live a day without depending on everybody." Prices make that dependence viable by linking their interests with ours. Thomas Sowell
The crucial role of prices is in tying together a vast network of economic activities among people too widely scattered to all know each other. However much we may think of ourselves as independent individuals, we are all dependent on other people for our very lives, as well as being dependent on innumerable strangers who produce the amenities of life. Few of us could grow the food we need to live, much less build a place to live in, or produce such things as computers or automobiles. Other people have to be induced to create all these things for us, and economic incentives are crucial for that purpose. As Will Rogers once said, "We couldn't live a day without depending on everybody." Prices make that depend-ence viable by linking their interests with ours. Thomas Sowell
At this point, people panic and exchange currency for real assets before rapid devaluation consumes their savings. As the crack-up boom picks up steam, the demand for money plummets while prices of real goods skyrocket, leading to hyperinflation. This psychological shift marks the event horizon where monetary policy is rendered impotent. Mises describes the nature of this crisis: "This phenomenon was, in the great European inflations of the ’20s, called flight into real goods (Flucht in die Sachwerte) or crack-up boom (Katastrophenhausse). The mathematical economists are at a loss to comprehend the causal relation between the increase in the quantity of money and what they call “velocity of circulation.” The characteristic mark of the phenomenon is that the increase in the quantity of money causes a fall in the demand for money. The tendency toward a fall in purchasing power as generated by the increased supply of money is intensified by the general propensity to restrict cash holdings which it brings about. Eventually a point is reached where the prices at which people would be prepared to part with “real” goods discount to such an extent the expected progress in the fall of purchasing power that nobody has a sufficient amount of cash at hand to pay them. The monetary system breaks down; all transactions in the money concerned cease; a panic makes its purchasing power vanish altogether. People return either to barter or to the use of another kind of money." The crack-up brings the unsustainable, debt-fueled boom to a catastrophic end. Personal savings are wiped out along with the monetary system’s credibility. Society becomes less stable as the populace loses faith in institutions and scrambles for resources. The economy finds its ultimate bottom not in recession but in the total decay of the currency itself. nostr:npub1tccnjexzau3x5ea8c69v047nqfy3xm4w4yl9j788sts0usl87nhsvce6fh
They'll Never Pay Down the National Debt https://fountain.fm/episode/RU1oHpZmYh2LnRjoNXpY
