Jeff Booth – #Bitcoin & Our Deflationary Future - podcast - July 10, 2020
" ... trying to just stop #deflation from happening now is going to end in misery because all it’s doing is transferring massive amounts of wealth from the middle-class and poor to the rich. In the last two months of COVID the billionaires in the US gained $552 billion at, a 20% unemployment."
Some of the claims, that are being made:
1. Technological progress is the determining force that pushes economy towards a #deflation
2. All central banks have set their goal to prevent #deflation and instead create #inflation (because there's an ideology that moderate #inflation is good and #deflation is bad)
3. Forced #inflation (to fight #deflation) leads to transfer of wealth from bottom to top
4. At some point in the future, some central banks & governments will begin to fight bitcoin ... and some will adopt bitcoin to solve their problems
Quote:
" ... think about what we do to spend all of our time trying to work our whole lives so that we can retire the last 10 years safely, right? And the entire time we’re working harder and harder and harder trying to keep up with artificially prices are rising prices that are created artificially, right. Just to push away from us. So we have to work harder. And so we need better jobs. We need everything else to be able to chase on that mouse wheel faster and faster when technology is actually wanting to give us the exact opposite, when prices should be coming down ... "
mp3:
https://stephanlivera.com/download-episode/2301/191.mp3
episode & transcript:
https://stephanlivera.com/episode/191
#bitcoin #centralBanks #deflation #inequality #inflation #JeffBooth #monetaryPolicy #redistribution #redistributionOfWealth #StephanLivera #thePriceOfTomorrow #universalBasicIncome #UBI
