Look at bitcoin, its value is expected to go up, so owners never use it, they don't even feel the need to put it in a bank account to hedge against inflation, because the likelihood is there'll be the opposite, deflation (because theres a fixed number of coins that can be made). So now you have all this cash sitting there doing nothing. Not being lent to businesses, so they can grow, or invent hover boots or what ever, it's not being put in a bank, so they can lend it to someone to buy a house.
It just gums the system up, the haves accrue more by doing literally nothing. The have nots have no opportunity to improve their lot, or the lot of the haves.
dsfyu404ed|6 years ago
benj111|6 years ago
Look at bitcoin, its value is expected to go up, so owners never use it, they don't even feel the need to put it in a bank account to hedge against inflation, because the likelihood is there'll be the opposite, deflation (because theres a fixed number of coins that can be made). So now you have all this cash sitting there doing nothing. Not being lent to businesses, so they can grow, or invent hover boots or what ever, it's not being put in a bank, so they can lend it to someone to buy a house.
It just gums the system up, the haves accrue more by doing literally nothing. The have nots have no opportunity to improve their lot, or the lot of the haves.
gumby|6 years ago