No one elected the Fed and they print USD like crazy. They're now proposing to print more money to solve climate change. That's the opposite of democracy.
Bitcoin is a transparent, simple currency. There will only ever be 21m Bitcoins and how they're minted is defined up front and everyone knows.
No one elected the Fed and they print USD like crazy.
The Fed is combination of officials appointed by elected representatives and official of banks, with appointed officials having something of the lead. Representative democracy involves things like this.
They're now proposing to print more money to solve climate change. That's the opposite of democracy.
The printing of money here is effectively a tax. Taxing the population and using the revenues for programs to benefit people is how a state works (in this case, a (slightly) democratic state).
If anything, it seems you're proposing the wealthy not be subject to taxes oriented towards to common good, which is what the gp was (correctly imo) upset about. The only thing here is you're calling the power of the wealthy "democracy".
Printing money functions like a tax, but it's not a tax. It was never proposed and debated by congress and then passed.
> If anything, it seems you're proposing the wealthy not be subject to taxes oriented towards to common good, which is what the op was (correctly imo) upset about.
I'm proposing the opposite. The money printing since 1971 has been one of the major drivers of inequality. If you own a lot of assets like stocks and real estate the last year and half of printing dollars has been tremendously good for you. If you work for a living and your income is mainly your salary, it hasn't. Your rent has gone up while your wages and opportunities have lagged.
If you own a lot of assets like stocks and real estate the last year and half of printing dollars has been tremendously good for you. If you work for a living and your income is mainly your salary, it hasn't. Your rent has gone up while your wages and opportunities have lagged.
This is true.
Yet somehow people expect bitcoin to change that rather than exacerbate this. It's pretty obvious that bitcoin is only going to help a select group of people. After all, if it catches on, people who own this asset will benefit and no one else will, obviously.
Bitcoin is a transparent, simple currency. There will only ever be 21m Bitcoins and how they're minted is defined up front and everyone knows.