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4min chapter
Is Sound Money the Answer? with George Gammon (WiM268)
The "What is Money?" Show
Currency Debasement Can Drive Innovation
If there is a central bank in place that's artificially lowering interest rates, then they're basically applying a tax to dollar savers. The savings of someone saving in dollars are then being compromised to benefit the expansion of the widget maker's capacity and productive capacity. So if you're doing riskier things, maybe you stumble across a fracking every now and then in an inflationary currency environment. In that case, you could say there was a contributory factor from currency debasement to the productivity unlocked through fracking or some other innovation. That's a possible argument. Once we kind of get past how beneficial is sound money, then start looking toward the future and say, okay, now we've
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