Great examples by @Lyn Alden
On why the world need more dollars:
“Fiat currency systems are primarily based on ever-growing debt levels. They’re like the subset of sharks that have to keep swimming forward or they die, but in this case, they have to keep nominally growing or they collapse.”
On the issue of broad money exceeding base money by a factor of 5 or more:
“It’s like a game of musical chairs where there are 20+ kids for every chair, and the music can never be allowed to stop for very long.”
On why the world need more dollars:
“Fiat currency systems are primarily based on ever-growing debt levels. They’re like the subset of sharks that have to keep swimming forward or they die, but in this case, they have to keep nominally growing or they collapse.”
On the issue of broad money exceeding base money by a factor of 5 or more:
“It’s like a game of musical chairs where there are 20+ kids for every chair, and the music can never be allowed to stop for very long.”
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