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The Bitcoin Standard Podcast
The Austrian Business Cycle
The whole point of a free market monetary system is that it forces people to make accurate decisions by forcing them to bear the cost. When you allow people to have this luxury, somehow having capital that doesn't require sacrifice, then it becomes possible for people to generate capital without any corresponding sacrifice. You're trying to manufacture capital out of thin air. That's ultimately what circulation credit is. Now, this then brings us to explain the business cycle.
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