The tax CBs impose on holders of a crncy is approx = to CPI inflation + non farm productivity gains. USD tax=2.1+1=3.1% currently. Sad.
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I havent. Some productivity gains are captured by producers, not consumers. But competition should make producer capture transitory
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I think this is only half the story. The other half is to create money fast enough to keep up with grounded hopes?
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Agree but qualify by saying "Govts directed money". If free market decided whats money then store value would exist.
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money doesn't need to be government sponsored to be a poor store of value, its supply just needs to grow over time
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