QUESTION: I perceive that you just dispute that cryptocurrency is a retailer of wealth as a result of it’s outdoors the central banks. Is that this your place? Might you clarify?
Respectfully submitted
Josh
ANSWER: Whoever made up this BS is most probably from the Deep State attempting to regulate capital flows and economically imprison everybody. There may be ABSOLUTELY NOTHING that may be a retailer of wealth. Trying, Investopedia defines this time period:
“What Is a Retailer Of Worth?
A retailer of worth is an asset, commodity, or foreign money that maintains its worth with out depreciating. “
It doesn’t matter what cash is likely to be. There was a growth and bust in each financial system no matter what they’ve used for cash. That is a wholly Marxist Utopian thought. Why? As a result of to be some retailer of worth means it CANNOT FLUCTUATE!!!!! This has stemmed from individuals who (1) don’t perceive that there are enterprise cycles and (2) suppose, like Keynes and Marx, that the federal government can remove the enterprise cycle and clean out the financial system. I had a dialog with Paul Volcker, former Chairman of the Federal Reserve. Paul admitted that the enterprise cycle at all times received and that the “new economics” (Keynesian Economists) failed again within the Nineteen Seventies (see his Rediscovery of the Business Cycle).
Arthur Burns, Fed Chairman, got here up with the identical conclusion when Bretton Woods collapsed: that the enterprise cycle at all times wins. All the pieces rises and falls based mostly on provide and demand. Anybody telling you that Bitcoin is a “retailer of wealth” is both outright mendacity to you or they’re blind to what they’re speaking about. Nothing ever is a retailer of wealth as a result of all the things rises and falls.
That is why the central banks can’t management inflation, no much less cash provide. I you promote an workplace constructing for $1 million to a different individual in your nation, the cash provide will not be impacted. Nonetheless, if you’re in Britain as again in 1985, when the pound fell to $1,03, Individuals have been shopping for up all the things prefer it was on sale at Harrods. The Brits thought the Yanks have been loopy shopping for on the high of the property market and so they have been incorrect for all the things boomed thereafter. Why?
If I purchased an workplace constructing in London at the moment, I must carry within the money from America, convert it to kilos, and purchase the constructing. Thus, I elevated the home cash provide with necessary money, and the central financial institution had nothing to do with that. NOTHING is a retailer of wealth EVER, it doesn’t matter what it’s, as a result of all the things will rise based mostly on demand and crash when you’ll be able to’t give it away.
