96. Sound Economics in a Confused World with Jeff Deist
The Bitcoin Standard Podcast
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What Does It Mean When People Hoard Money?
When there is uncertainty in the world, people immediately begin increasing their cash balances. This increases everybody else's purchasing power because that money is taken out of the purchasing economy at least temporarily. And as a result, auto dealers in the united states had boast the worst month for many of them, in their existence, and the best months not long after. That's a real world, clown example of what happens when you muck around with people's natural inclinations during a crisis. I mean, we want to see prices fall when production falls and savings increase. Everything is about demand consumption. We need to create more money and credit on the monetary side. On the fiscal side, we need to
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