Guest Episode: Mises Institute with Jeff Deist: The Fiat Standard
The Bitcoin Standard Podcast
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The Absurdity of Measurement Without a Unit
The main issue, the fundamental unfixable issue, is that you're performing measurement without a unit. And that's just absurd. What they try and do is effectively the CPI itself is the measuring unit for the value of the dollar. So if your salary is $1,000 a month, and you spend it on goods that are worth $ 1,000, everything jumps in price by 10 fold overnight. But what we don't see is that you've changed the composition of goods in your basket of goods. It does carry some meaning, but it is massively distorted.
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