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62 sats \ 4 replies \ @halalmoney 13 Dec \ on: Alternatives to debasing the currency in difficult times bitcoin
I’m very anti-government in my thinking these days but I’ll give this a shot.
How about: during the ‘good times’ the government allocates x% of tax receipts for an emergency fund. Then, when the ‘bad times’ arrive it funds a tax cut from said emergency fund to help people during the crisis. As this is fully funded, it shouldn’t cause a sell-off in the bond markets (which would make things worse).
That's literally the Keynesian prescription. We've seen the fatal flaw in it already: they never do the saving part, because there's no objective criteria for determining when things are good and they always want to spend more.
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During 'good times' politicians keep on misusing this tool to indulge their populist agenda or simply because of its inefficiency and inability to spend less or equal the amount of taxes they stole from us. Ok, I allowed my libertarian ancap side surface for a second, let's go back to the topic. I think it's pretty clear for Bitcoiners that in these times sound money is better money.
I just want to debate the 'bad times' with reasonable Bitcoiners to think how we (the human kind), can better prepare so that we don't need to fallback to easy money again.
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True. But imagine if it was applied programmatically on a triple-entry ledger. A Bitcoin like CBDC but without lizard people calling the shots.
I’ll see myself out…..
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@halalmoney valid take bro 😅
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