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71 sats \ 0 replies \ @Brunswick 31 Jan 2023 \ on: There is no such thing as Gresham's Law... The proper name is: Copernicus' Law bitcoin
Currency manipulation isn't the only source of inflation. Others can be population collapse from debauchery brought on by prosperity and it can be from famine and other material shortages. There is at least one direct biblical account of monetary hyperinflation due to famine (Gen 47:17), and one from collapse u der societal decay and siege (Eze 7:18). These happened under hard money.
Under a regime of perfectly hard money, we will learn exposure to sustained deflation and how credit and finance will work under this system.
After hyperbitcoinization we may experience sustained prosperity which could lead to debauchery and demographic collapse. This could cause inflation of the unit of account which is a tax on everyone's wealth, but only at the rate of population decrease. One could consider this a tax on debauchery and hopefully future generations would recognize this before it happens.
If they understand the gift they have been given, a hard currency, they should conclude a utilitarian need for an improved societal ethic. An ethic that leads to morality, an agapè love for fellow man, a refrain from slothfulness and to hold dear a principal to maintain a sustainable level of population.