"Inflation is theft" - old discussion but still very valid

This is from 2012 but still very current. You can hear some very good insights why Bitcoin is safer than what the central banks and governments are doing with fiat currency (and the necessary trust behind the fiat). https://www.youtube.com/watch?v=AJgzx88RgEw

"Inflation is theft." (quote from Ron Paul at 3:18) - A dollar has depreciated approx. -98% in value over 100 years. This means people's savings and pensions has been constantly lowered. Rich people know how to invest and evade inflation, but poor and middle class are the ones paying it. And many did not like the US government's financing of wars with their perceived budget capacity.

"I want to legalize competition on currencies..." (quote from Ron Paul at 8:18) - Agred but the competition from Bitcoin and crypto is slowly happening with or without legalization.

The time passed gives a good perspective why budget deficits, debt and inflation will make people trust decentralized crypto more and more.

Submitted April 20, 2019 at 07:17PM by Tiny_Frog http://bit.ly/2GwOl8h