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How Bitcoin Changes Everything | The Saylor Series | Episode 17 (WiM065)
The "What is Money?" Show
Is All Taxation a Misaplication of Capital?
All government revenue is via taxation. People try to avoid it or evade it. They don't want to pay it a and it costs money to overcome that resistance. So of course, the misallication of capital is not generating enough yield to pay bondholders over time. Ah, and you see this reflected in just more and more production of money. This is the debt monitization process. We increase the supply of money, use it to buy government debt,. Then the government goes on misallicating more and more capital in kond of this vicious circle. But the zero bound on government bond yields is the inflection point of these broken storeStore of values - m stores of value
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