Is anyone else concerned about how our money is inherently worthless? 😂 imo it’s gold/silver or nothing

You’re right about the grammar. Not about the gold. We are connected to gold in no way at all @InvaderNice

That means the government has total power to inflate the money supply as they wish (which makes your money worth less as the cost of everything increases). Plus, this effects the poorer more than the rich as they have their wealth in assets, properties etc.@InvaderNice

@MrMonnyPenny Ah I see

@InvaderNice There’s also a theory that this fake money is the cause of the boom/bust cycle.

Time preference is how much people are willing to delay in order to gain more.
Interest rates under natural conditions (different loaners competing in a market) should reflect the average time preference of the population.
Since they are set artificially by the government, they send the wrong signals to businessmen as they invest to produce goods that people won’t have the savings to buy.

So Boom = when the banks give loans out to businesses
Bust = when the investments fail

@MrMonnyPenny I’ll keep reading that over until I understand it lol

@InvaderNice best explanation I’ve found is this book: https://mises-media.s3.amazonaws.com/What%20Has%20Government%20Done%20to%20Our%20Money_3.pdf

Part of the reason it’s all so complicated is to disguise what’s going on 😂