Moldbug is literally the libertarian who stopped believing that QE causes inflation because "Duh", i.e. he doesn't understand why but was humiliated into accepting this. This is the only explanation for his idea of monetizing the stock market.
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To explain: inflation comes from too much money chasing too few goods. In QE, money doesn't chase goods but assets. In government spending (military, infra, etc.) money --> produces goods <-- . Converting everyone's 401k to cash at face value? What do you think will happen???
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In QE money is created but doesn't rly chase goods, as it's largely kept in a financial loop. In government spending money is increased but goods are too. But if all equities are converted to cash with no concomitant increase in production? That is a seismic inflationary shift
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Replying to @Jargoeauxgne
he says in that article that if won't cause inflation because propensity to spend is determined by your net worth and whether it's in the form of stocks or cash doesn't matter. LOL
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"Mr. Smith here's your $500k cash, no longer earning any interest by the way, sit tight on that will you? We're trying to avoid inflation."
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