Magoo on nostr

Bitcoin is not an accountability mechanism on deficit spending. It actually helps governments increase deficit spending.

Bitcoin is a Liquidity sponge that soaks up all the excess liquidity looking for a home and combats inflation in CPI basket goods and other items linked to standard of living like real estate.

CPI and standard of living are the only thing that really polices government spending.

Des Imoto マキシ · 4w

Inflation is the increase in money supply. Which trickles down to increased prices. The CPI, while manipulated, measures, as the name implies, prices. Consumer Price Index. Using the word inflation interchangeably with the word price is wrong and confuses people. They are two different things.

𝕞ptf · 4w

Now it is golds turn to soak up the excess liquidity

Brock · 4w

Long-term, bitcoin competes with public and privately issued bonds. So to that addressable market - yes - its purchasing power does act like a deterrent for deficit spending. Spend too much and bitcoin will be repriced in your currency. Recently, the Fed has been selling its balance sheet ($3T ove...