"There is no such thing as too much Austrian economics content"
-- @bitstein on the art of memecraft in the service of Bitcoin
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@saifedean@NickSzabo4 , what the Austrian school says about this 200 hundred years of the Spanish mutation of the world economy? The Gold from America destroyed the scarcity of Gold, and feudalism. I didn’t find about this disruption in your excellent book The Bitcoin Standardpic.twitter.com/4nJDR1IPmT
It weakened the scarcity of gold (and even moreseo of silver), and played havoc on very-long-term tenures denominated in fixed amounts of gold or silver. The resulting inflation in gold though was less than inflation targets common among central banks today.
