556 sats \ 0 replies \ @endothermicdev 5 Mar \ on: When Money Dies In The 21st Century econ
What I took from When Money Dies is that the root cause is unlikely to be identified. It was much easier for society to latch onto market speculators and Jews as the culprits of inflation than the money printing. It was really heartbreaking to read about the social fabric fraying, millions of people angry and hurting, and then instead of facing the root causes - onerous reparations and the relentless monetary debasement - instead the frustration was all redirected onto innocent people just trying to protect themselves in the midst of a horrible situation.
This book didn't make me optimistic for the societal response to the coming difficult times. Especially with all of the current vitriol toward "greedy corporations." (And it's not like I want to defend some asshole corporate oligarchs, but the reasoning here is just lazy and wrong!) I just hope the transition away from fiat/dollars is slow enough and gets enough people onboard that tempers don't explode and so that a substantial portion of the population can be protected through it. I've got to say, I'm nervous.