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2min chapter
Philosophy of Stateless Money with Bradley Rettler (WiM110)
The "What is Money?" Show
The Five Problems of Inflation
Inflation is subject to capricious political processes. It penalizes savings or investment over consumption. There's no guarantee that a rise in prices will percolate outwards in a uniform expeditious way. One result can be a redistribution of purchasing power towards those who are closest to the supply of new money. Everyone wants to get as close to that redistribution as possible and externalize the cost away from them, he says.
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