
A Quick Reminder Why Bitcoin Was Invented in the First Place - js7745
https://medium.com/founder-playbook/a-quick-reminder-why-bitcoin-was-invented-in-the-first-place-f9ae7430bc17?
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rothbardrand
"Banks have discovered that they can siphon off all the productivity increase
+ 2% every year, without people complaining too much. They accomplish this
currently by increasing the money supply by 5% per year, getting this money
returned to them at an interest."

This bit is missed by large swaths of the population. But it's not just banks
profiting this way, it's government. Deficit spending and funding all these
wars is enabled by this mechanism. There's a reason large historic banks have
tended to fund wars.

~~~
rtpg
and funding all those road-building, social security, university research,
school funding, post-disaster management, public transportation, space
programs, etc.

I highly doubt the logic of the gov't is "oh let's get more fiat money so that
we can start more wars". The wars are probably first in the causality chain,
if anything.

Governments have started pointless, costly wars long before they could print
unbacked money

~~~
thomastjeffery
Government isn't a singular entity, so it's meaningless to point out that
"war" is not it's singular priority. Government as a whole _inherently_ has
mixed priorities, because it is a collection of individuals, each with his/her
own unique priorities.

It is, however, reasonable to consider the United States' $600 billion per
year spending on "defense" as evidence that fighting wars is a major priority.

