2/ A modern variant of European 'La Belle Epoque' of 1871-1914, when the peak of the Gold standard put some semblance of a cap on State power. Money is Power. Bitcoin is the Neo-Gold standard.
Fiat is one of the biggest scams in history of mankind. Arbitrarily expanding money supply literally devaluing wealth of the citizenry continuously. Sure there may be some pain in the unwind, but long term it will add insane efficiencies
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Yes, that was Keynes explicit point. Through deficit spending the state could reduce the purchasing power of wages without nominally lowering wages. Wage prices are reliably sticky related to most everything else that inflates easily.
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I don't know why you would call that a "scam". It built the Nazis a wermacht. It built the US armed services. It prevented a depression for over 80 years. The problem is not that it is some scam but that it has worked flawlessly in highly destructive ways.
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But implicit in what you say is the suggestion that a return to gold or a turn to bitcoin, by reinstalling a commodity money, would produce a system with less government and plenty of exchange. Your assumption rests on thin air and there is considerable evidence it is false.
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Keynes himself thought this would become impossible and that the only alternative was, eventually, the elimination of wage labor. His calculations projected this would become necessity ... well... around now.
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Marx theorized this development in some depth predicting what he called "absolute overaccumulation", a point at which commodity money would be structurally non-viable, it would be necessary to continuously depress wages.
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Orthodox economics today is basically silent on this, hand-waving that we'll save the economy by opening a new frontier on Mars or, uh, in Cyberspace™. Their models simply *assume* unbounded demand expansion - like yours.
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p.s.: Hi. I'm Tom. Nice to meet you.
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hey man can u dm me pls?
End of conversation
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I agree with your first two sentences. However, I'm not sure you are fully comprehending what I said
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