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130. The Fiat Standard: Unwritten Chapters

The Bitcoin Standard Podcast

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What's the Solution to a Recession?

The reason we had a business cycle is because of the previous rind of cansian idiots who did something destructive to the economy that needs to be liquidated. They subsidize the bunch of businesses that are not profitable, and they continue to operate even though they're not profitable. And now their unprofitability is exposed. So what's the answer? Well, the answer is, stop doing those stupid businesses and stop wasting resources on them, and move on to something else.

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