I wonder if @Peter_Turchin or anyone else at @sfiscience studied the relationship between currency hardness and the rise and fall of civilizations from a cliodynamics perspective. And are we too late in the cycle to reverse the trend with Bitcoin?
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Resuming my reading of The Bitcoin Standard. I have questions: Going off the gold standard prolonged WW1, but isn't this basically prisoner's dilemma? Once 1 country goes off the gold standard to gain a tactical advantage, aren't the rest of the countries incentivized to follow?
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Side thought: Was Nietzsche a Keynesian? "Ye shall love peace as a means to new wars—and the short peace more than the long. You I advise not to work, but to fight. You I advise not to peace, but to victory. Let your work be a fight, let your peace be a victory!"
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When people bring up Nazis, they say the Nazis misinterpreted Nietzsche, but nobody ever talks about their Monetary Nationalism. Perhaps what people criticize about nationalism is really Monetary Nationalism?
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Italy, Austria, and Germany lost more currency value than the Allied countries in WW1. They were screwed over by the continued Monetary Nationalist treaties. Had they gone back the gold standard, WW2 could have been prevented?
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@saifedean reveals important little-known fact! Hoover was an interventionista who was voted out of office! FDR promised fiscal and monetary responsibility, but got corrupted. New Deal was just a continuation of Hoover. Note similar economic policies in Fascist Italy & Germany.2 replies 1 retweet 12 likesShow this thread -
There were 57 episodes of hyperinflation in history, only one happened before the era of Monetary Nationalism, and that one was still produced due to government money.
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"[Gov printing money] is no different from copper producers mining more copper in response to monetary demand for copper; it rewards the producers of the monetary good, but punishes [the HODLers]." What about concerns for miners manipulating crypto market?
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3 reasons for sound money: 1. Lowering time preference initiates cooperation in civilization. 2. Trade based on stable unit of measure and unit of account increases reliability. (Consistency is a Cialdini rule for influence.) 3. Requirement for individual freedom from despotism.
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Time preference is far higher in animals than in humans. Did the prefrontal cortex change perception of time? Was this an important factor in the development of human consciousness? How do psychedelics affect this?
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What’s “time preference”? (Opposite of delayed gratification?)
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Yes.
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