I meant high time preference!

You are right. 

Politicians and governments think and act short term because of elections and the media 


Politicians have very high time preference, though, since they have to deal with election cycles.

Undisciplined

Governments have high liquidity and low time preferences. In theory they should plan for the long term but they have daily payroll and expenses. 


Bell_curve

bitcoin

Should the US Government Acquire a Bitcoin Reserve? • Listen on Fountain

A big part of Bob's case is that there are real risks in holding high volatility assets if you have strong liquidity needs, even if they have a very high expected return.
