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let's also assume that society has become so bad and unequal that the obliteration of the millionaires and billionaires and their hold over social attention is good. that they've just been rent-seeking instead of allocating attention effectivelyhttps://twitter.com/a_yawning_cat/status/1390113372230754304?s=20 …

let's ALSO assume that everyone is a highly savvy businessperson who constantly "provides value" for the world. is there anything wrong with this world? everyone starts from zero. everyone is equal

imo there is a still an issue here in that the purpose of taxes is to to "recycle" the fiat back into the originator of the fiat.https://twitter.com/a_yawning_cat/status/1371352470216007710?s=20 …

remember, the central heart does not care about money since it can create money out of thin air. it cares about flow and distribution the flow of money is what produces meaningful activity just like the flow of water, not the volume, produces energy in a turbine

inflation is caused by constant production of money. if the money isn't recycled in some form (like taxes) then it is actually "pooling" in the system these pools, although they are good for the the constituents of the system, are not good for the system overall

this is b/c the greater the pools outside of the central pump, the less centralized control the heart has over the overall metabolism. it can't coordinate. e.g. imagine a body that can't increase/decrease heart rate in response to if you're exercising or sleeping.

in such a situation, it is forced to produce more and more money in order to constantly maintain its ability to coordinate. like a one way pump open system vs a close loop recycle system

take china. it is printing lots of money to maintain central control and that money just dumps into rising real estate prices due to state controls over capital egress & shady stock market.

but because this money is "crystallized" and doesn't actually move through the economy there is no inflation because money is frozen(but not destroyed) at the same rate it is produced.

as far as i can tell, there is no complex organism that doesn't have a heart. every system needs some sort of centralized coordinator to "tick" at the right speed. a system that doesn't have coordinated goals is not a system.https://twitter.com/a_yawning_cat/status/1342416398295810050?s=20 …

the problem with large pools of money outside of the control of the central originator is not that distributed decision making is BAD but that the central authority NEEDS a certain amount of authority because that authority/power maintains the validity of the fiat!

hyperinflation is complete loss of faith in the heart. the sub system suddenly decides to amass and hoard resources itself and try to live as long and as bigly as possible as a fully independent system in a word. it becomes Cancer.

inflation then is a warning signal that there is degrading faith in the authority of the originator and that is has to display a "show of force" (increased taxes) in order to show everyone that the fiat still has value. (pay up this totally valuable fun coupon or go to jail!)

hyperinflation is just the last heart attack spasm as the heart is like "omg wtf i'm not sure what to do anymore in this situation let's push all the buttons lalalala" it's "happens slowly, then suddenly" the same way a life of high blood pressure & obesity causes a heart attack