More specifically, reliable records of interest rates start about 3,000 years ago. We have *never* in all of this recorded human history seen interest rates as low -- indeed negative! -- as they are today.https://twitter.com/maxkeiser/status/1161000868784877570 …
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There are many things wrong and potentially perverse with -ve rates, but pushing views and not understanding the underlying mechanics and incentive structures is not helpful, and is actually perverse in itself.
Nobody understands most of the consequences, including the economists and bankers themselves.
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Good point, I completely agree. There is not a clear answer either way. We have a system right now that has been the fuel for great innovation and growth (even with its flaws). But it may or may not be a sustainable model. Debate/discussion in structured manner is important.
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Capitalism is a sustainable model. Capitalism requires price mechanism to work. Price mechanism allocates resources in an economy. Central Banking is about price controls which distorts an economy. We need to get back to capitalism.
#bitcoin. -
Sorry i didn’t mean capitalism, I meant the central banking model. Point is we have had concept of capitalism and free markets for millennia, ever since the early forms of barter. It’s about how you can drive a low friction environment for trade and innovation.
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The current system is filled with friction. Money is key to social scaling, critical for humanity. Less friction better scaling. Trust minimized money leads to less friction.
#bitcoin.
End of conversation
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