Podcasts: Read_723 - Alchemy - Everything Divided By 21 Million [Knut Svanholm] 🔗 52 weeks ago

"Central Banking is successful alchemy in this sense. The money- issuing institutions of the world have found a way to create new money with no cost. No mining is required. They are the alchemists of our era. The Central Banks’ promise of stable prices is as absurd as the alchemists’ promise of cheap gold. The whole point of a value- measurement tool, or a type of money, is in its costliness. It has to somehow connect to reality because of the subjective nature of value. Money created without cost is like fools’ gold.2 It enriches the issuer and his friends while everyone else pays for the whole ordeal. This is also known as the Cantillon Effect." - Knut Svnaholm

The Konsensus Network - https://bitcoinbook.shop/ Ioni's Videos - Youtube Channel Knut's other amazing books - Amazon

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------------------------------------ “Individual liberty… demonstrates that some manners of living are more successful than others.” — F.A. Hayek

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