ok, I'm going to pick a nerd fight:
* fiat currency is actually pretty OK
* gold is a really really bad currency
* an engineered 2% rate of inflation is REALLY REALLY GOOD
* no one loses anything to low inflation bc you don't keep capital in cash
(@AlanMCole you got my back ?)https://twitter.com/rnewquist/status/1215767565252939777 …
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11/ yes, inflation warps the yard stick ...but so what? https://twitter.com/ITBeHa/status/1215773288837853185 …
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12/ prices are never going to be constant - you can and do have inflation or deflation on the gold standard with USD you have the target 2% +/- random error ... so no more nor less easy to calculate than with gold https://twitter.com/ITBeHa/status/1215774959634612230 …
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14/ I did! yep, inflation sucked.https://twitter.com/Fourmilab/status/1215776591281827841 …
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15/ kids these days don't get "at 19% ?!!?" https://www.youtube.com/watch?v=N5C8C1WAywU …
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16/ If your grandparents "invested" that money by piling up pieces of paper in a stack, then they deserve that. Invest in ANYTHING. Stocks. Bonds. Real estate. Comic books. Classic cars. ANYTHING. Cash is a medium of exchange, not a store of value.https://twitter.com/AlexRDell/status/1215785932042801154?s=19 …
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17/ Also, dude, you're counting the inflation twice. EITHER say that it's worth X now OR say that prices have gone up. But not both, because it's the exact same thing.https://twitter.com/AlexRDell/status/1215785932042801154?s=19 …
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18/ No, this is very very wrong. Currency is MB or M0. Around $4T. US economy is $22T (GDP, I.e. earnings) or $40T (market cap, I.e. stocks) or maybe $100T (real estate, public market cap, private firms) or maybe morehttps://twitter.com/ctdonath/status/1215822173937553408?s=19 …
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End of conversation
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