Reid Walley

Reid  Walley's avatar
Reid Walley
reid@reidwalley.com
npub12jat...9mh9
Graphic designer. Bitcoin tees: https://bitcoinoutlaw.com/ (Pay with ⚡️Lightning) Twitter: bitcoin_outlaw Twitter: reidwalley (permanently banned for speaking freely) Matrix: @reidwalley:matrix.org
This is why we #Bitcoin I asked Grok the following: Q: Would the economy be better off if there was no central bank (like the Federal Reserve) to interfere? A: No, the economy would likely *not* be better off without a central bank, according to the broad consensus in mainstream economics. Then I asked a followup: Q: Now let’s take a look from the Austrian fixed money POV A: From the Austrian School perspective, particularly emphasizing a fixed or slowly growing money supply (e.g., under a strict commodity standard like gold, where new supply comes only from mining), the economy would be *vastly better off* without a central bank. Central banks are seen as the primary source of economic instability, not a stabilizer. https://x.com/i/grok/share/xnNGBAOyk3x2mhwCswUx8A4hv
Gold isn't perfect, the supply inflates at ~1.5% per year. But throughout history, gold was the slowest inflating commodity known to humans. Until April 20, 2024. That's when Bitcoin took the crown of slowest inflating commodity. Eventually, Bitcoin will stop inflating altogether and remain a fixed supply. Something gold will never be able to do.