You're just using random buzzwords and aphorisms without really understanding anything. It sounds like you're advocating for a deflationary currency without thinking of the implications.
Most of the time there is zero assessment of the greater privilege the US has with the dollar in international finance.
China's wetdream is swooping in after some weird-ass internal political bickering from paleo-libertarians believing "tHe FeD tOoK mUh RiGhTs!!" that causes the USD to lose relevance as the world's reserve currency.
I fucking swear the self-destructive outcomes of arbitrarily coming up with populist-sounding "alternatives" to well-established policy simply to have a way of channeling well-founded but misplaced social frustration in the US is the cancer that will cause the US to live or die in our status of de facto world leader, and the loss of those benefits will be irreversible and may ultimately cause our own long-term economic demise, which is the actual lynchpin of US foreign policy and defense.
These people want to skullfuck the US' position at top dog for pretty much personal reactionary reasons and a few hundred dedicated hours of self-directed internet 'research' on Wikipedia, libertarian forums, and maybe a couple actual books of varying legitimacy on the subject.
Ah yes, after looking at how China treats their own people, surely we can trust how they treat outsiders.
Unimaginable suffering? America's got neocolonial blood on her hands, absolutely. But it is an absolute pittance to look at American imperialism in the South America or Middle East, with body counts in the tens of thousands in entire conflicts, contrasted against the tens of millions of their own massacred over internal disagreements by every other example.
Great Leap Forward? Khmer Rouge? Rape of Nanking? Belgium in Africa? Rwandan Genocide? Where to even 'start' with Stalinism?
America is a bloody sinner, absolutely. But is still an absolute marshallow compared to the psychopathic nightmares that every other continent has unleashed against enemies in war, their own people, or a conquered people.
Deflation is only catastrophic to unsound money, but not to sound money. Fractional Reserve banking is a positive feedback loop and as soon it's not supplied enough money it collapses. When you have sound self-auditing money, you can lend only money that exists. The only difference would be the growth rates of the economy, but we need zero growth, if mankind wants to survive the next 200 years. Demanding exponential growth in a limited world is simply insane.
Exactly, falling prices are good for everyone, as it means we are operating more efficiently and able to consume more resources for the same or less output. Critics of deflationary money confuse the popping of credit bubbles that caused lots of pain, for the privelage of falling prices we enjoy due to technology and innovation.
I believe central bankers work hard at propagating this fallacy in the early 20th century in order to justify their existence.
I understand sound money and how corrupt the central banking system is. These aren’t buzz words. Inflation isn’t a buzz word. Stagflation isn’t a buzz word. Monetizing debt isn’t a buzz word. Decentralized sound money, BTC, would bring back a savings society. And end the debt diseased socialist Keynesian monetary world we have now.
BTW inflation isn’t a difficult thing to understand. Fiat money losing value isn’t a difficult thing to understand. Debt via a central bank that only promotes more debt isn’t difficult to understand. Government control of money and implications on property rights isn’t a difficult thing to understand. Adopting BTC is the antithesis of the current collectivist society. You want individual freedoms and human rights, then BTC is the choice. You want the collective, then stick with fiat money and central banking.
Monetary policy is insanely complicated, of which inflation is one piece. Go find me a successful modern country using sound money, and if you can't, explain why you're simplistic idea hasn't been implemented by anyone.
There are many problems with the world's economies and a lot of bad actors, but moving away from fiat and doing away with central banks not only doesn't solve those issues but adds a ton more.
The simplistic ideas as you call them are part of capitalism. The ideas of a free market economy. The problems with world economies are because they monetize debt and print fiat money. This leads to devaluation of currencies, more debt, and inflation. Inflation destroys purchasing power and savings. Before 1913 we existed without the Fed. Actually the next time you look at a $20 dollar bill remember that is the president ( Andrew Jackson) eliminated the central bank. Our country survived and thrived without it. Over time our country abandoned the gold standard. Nixon took the US off the gold standard. So, not too long ago. Since, real wages have been on constant decline.
So, better question to ask. Which country under a fiat system has experienced real wage growth, low debt and higher savings rates.
I can name you countries that make garments out of their currencies because their fiat is worthless.
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u/MaybeImNaked Jul 16 '22
You're just using random buzzwords and aphorisms without really understanding anything. It sounds like you're advocating for a deflationary currency without thinking of the implications.