QUESTION: I perceive that you simply dispute that cryptocurrency is a retailer of wealth as a result of it’s outdoors the central banks. Is that this your place? Might you clarify?
Respectfully submitted
Josh
ANSWER: Whoever made up this BS is almost definitely from the Deep State making an attempt to manage capital flows and economically imprison everybody. There’s ABSOLUTELY NOTHING that could be a retailer of wealth. Wanting, Investopedia defines this time period:
“What Is a Retailer Of Worth?
A retailer of worth is an asset, commodity, or foreign money that maintains its worth with out depreciating. “
It doesn’t matter what cash is perhaps. There was a growth and bust in each economic system no matter what they’ve used for cash. That is a wholly Marxist Utopian thought. Why? As a result of to be some retailer of worth means it CANNOT FLUCTUATE!!!!! This has stemmed from individuals who (1) don’t perceive that there are enterprise cycles and (2) assume, like Keynes and Marx, that the federal government can remove the enterprise cycle and easy out the economic system. I had a dialog with Paul Volcker, former Chairman of the Federal Reserve. Paul admitted that the enterprise cycle all the time gained and that the “new economics” (Keynesian Economists) failed again within the Nineteen Seventies (see his Rediscovery of the Enterprise Cycle).
Arthur Burns, Fed Chairman, got here up with the identical conclusion when Bretton Woods collapsed: that the enterprise cycle all the time wins. All the things rises and falls based mostly on provide and demand. Anybody telling you that Bitcoin is a “retailer of wealth” is both outright mendacity to you or they’re unaware of what they’re speaking about. Nothing ever is a retailer of wealth as a result of the whole lot rises and falls.
For this reason the central banks can’t management inflation, no much less cash provide. I you promote an workplace constructing for $1 million to a different individual in your nation, the cash provide will not be impacted. Nevertheless, in case you are in Britain as again in 1985, when the pound fell to $1,03, People had been shopping for up the whole lot prefer it was on sale at Harrods. The Brits thought the Yanks had been loopy shopping for on the prime of the property market they usually had been incorrect for the whole lot boomed thereafter. Why?
If I purchased an workplace constructing in London at the moment, I must deliver within the money from America, convert it to kilos, and purchase the constructing. Thus, I elevated the home cash provide with necessary money, and the central financial institution had nothing to do with that. NOTHING is a retailer of wealth EVER, it doesn’t matter what it’s, as a result of the whole lot will rise based mostly on demand and crash when you may’t give it away.
