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#1364 Jack Mallers | Bitcoin Could Hit $1 Million This Cycle
The Pomp Podcast
**Money as Time and Energy **
Money is an abstraction of time and energy, representing the collective contributions of individuals to society. Governments borrowing their own currency is akin to borrowing time and energy from the future. Global debt exceeding 300% of GDP indicates borrowing a significant amount from the future without adequate growth to repay it. This imbalance poses a significant problem as it represents a deficit in the collective time and energy of society. The two options to address this are letting the banking and bond systems fail, or debasing the currency and taking the time and energy of the populace. The prevailing belief is that the currency will be weakened to reconcile the borrowed time and energy. This perspective underscores the importance of considering money in terms of time and energy, as it emphasizes the real implications of economic decisions and highlights the potential repercussions for society.
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