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123 sats \ 29 replies \ @Satosora 8 Aug 2024 \ parent \ on: Let's Find A Scapegoat To Mask The Reason And Deflect The Blame econ
I remember making labels when I was younger.
Took forever changing them all out!
It's been a long recognized friction in price inflation. Usually referencing restaurant menus, rather than store tags, but it's the same idea.
The inflation scam is that they get new money to their cronies before prices have time to adjust.
Faster adjusting prices directly undermine that scam.
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I guess that is true.
I just never got the idea of printing money and buying gold.
Seems counter intuitive.
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Who's buying gold?
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China, russia, india, the us.
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Is the US buying gold?
Those other countries are trying to protect themselves against US inflation. Most of their currency reserves had been US Treasuries.
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US is always buying gold.
Just not massive amounts like India and China.
Not true for India.
India buys Gold for two reasons. One because our woman love it too much. We have exceptional demand for gold. Second, which is important, India still follows Gold Standard partially.
I remember Zimbabwe stories where prices get changed on the blackboard while you're shopping in the store.
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It's complete madness.
People think Bitcoin is volatile.
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Just imagine when it is stable and fiat is the one that is volatile.
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Zimbabwe had fiat. It was volatile.
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