Search on TFTC
Issue #1030: Reminder: Inflation is theft

Issue #1030: Reminder: Inflation is theft

Jul 9, 2021
Marty's Ƀent

Issue #1030: Reminder: Inflation is theft

When you equate money saved with time spent to make that money it makes the definition of inflation very straightforward; it is objectively a theft of purchasing power and the time spent to attain that purchasing power. Millions of humans around the world, if they aren't stuck on the hamster wheel of paycheck to paycheck living, work extremely hard to stash away money for future consumption. At the point in time an individual stashes some money away for future consumption that money has a certain amount of purchasing power. Most individuals, believing they live in a world that values hard work and the time spent to accomplish that work, expect the purchasing power of that money to be somewhat stable over the time it is stashed away as savings.

When central banks and governments decide to print money ex-nihilo, they reduce the purchasing power of everyone's cash by diluting the supply, and essentially discount the value of the time each individual spent working in the past. What was worth $20 an hour of exerted work at the time of savings in the past is now worth $10 an hour in purchasing power if an individual were to take that cash out of savings and attempt to buy something (a very simplified example).

When, instead of converting the purchasing power of past savings into todays dollars, you convert that loss of purchasing power into time spent in the past as ILikeBitcoin and Aحmad have done above, it really highlights the insidious nature of inflation and the fact that central banks and governments enact policies that actively attempt to increase inflation. It is evil. It is immoral. And the madness of inflation as the stated goal of monetary policy today should be ended as quickly as possible. People's lives are being stolen from them. The money changers need to be driven from the Temple.

Final thought...

Time for a bike ride.

Enjoy your weekend, freaks.


Current Block Height

Current Mempool Size

Current Difficulty