is USD inflation a global tax?
61 sats \ 5 comments \ @nakamoto502 8 Sep 2023 bitcoin
Everyone holding USD, including those who use it as a reserve currency to guard against hyperinflation, is impacted. However, it's important to note that while the impact is widespread, the ultimate beneficiary in this scenario is the United States.
No taxation without representation?
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55 sats \ 0 replies \ @carlosfandango 8 Sep 2023
Only works as long as USD is the global reserve currency.
‘The most sinister of all taxes is the inflation tax and it is the most regressive. It hits the poor and the middle class. When you destroy a currency by creating money out of thin air to pay the bills, the value of the dollar goes down, and people get hit with a higher cost of living. It's the middle class that's being wiped out. It is most evil of all taxes.’ Ron Paul in 2007
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25 sats \ 0 replies \ @TheBTCManual 8 Sep 2023
Yes it is, but like many people who leave tax oppressive countries, people move from their local currency to USD especially as that local inflation tax keeps compounding faster, Why they don't yet migrate to Bitcoin is another story
I still think that people are making a decision with the idea of relative stability and they're willing to pay a premium for that which is the inflation of USD
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1 sat \ 2 replies \ @eduardopro 8 Sep 2023
Yes, it is.
Next question.
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0 sats \ 1 reply \ @Michelson_Morley 8 Sep 2023
Nice finally: When bees dance in order to describe where the most preferential area of mutual investigation is, why do they not put on some music first? Are they stupid?
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50 sats \ 0 replies \ @eduardopro 9 Sep 2023
LOL.
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