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? May 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 may be 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 forex that maintains its worth with out depreciating. “
It doesn’t matter what cash could be. There was a increase and bust in each economic system no matter what they’ve used for cash. That is a completely 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) suppose, like Keynes and Marx, that the federal government can get rid of the enterprise cycle and clean 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 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 pieces rises and falls primarily based on provide and demand. Anybody telling you that Bitcoin is a “store 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 every little thing rises and falls.
For this reason the central banks can not management inflation, no much less cash provide. I you promote an workplace constructing for $1 million to a different particular person in your nation, the cash provide is just not impacted. Nonetheless, in case you are in Britain as again in 1985, when the pound fell to $1,03, Individuals had been shopping for up every little thing prefer it was on sale at Harrods. The Brits thought the Yanks had been loopy shopping for on the high of the property market they usually had been improper for every little thing boomed thereafter. Why?
If I purchased an workplace constructing in London at the moment, I must carry 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 every little thing will rise primarily based on demand and crash when you’ll be able to’t give it away.
For this reason empires rise and fall. Nothing has ever remained a flat line by way of worth.
