Actually, it was visible to me too, but I didn’t see any particular need to introduce it to the discussion until such time as Flinter sees fit to do so. (I have seen a blog that I am pretty sure is Flinter’s, and a few other writings on similar topics that I’m pretty sure are also his.)
(My impression is that Flinter thinks something like bitcoin will serve his purposes, but not necessarily bitcoin itself as it now is.)
After painting the picture of what Ideal Money, Nash explains the intrinsic difficulties of bringing it about. Then he comes up with the concept of “asymptotically ideal money”:
The idea seems paradoxical, but by speaking of “inflation targeting” these responsible official are effectively CONFESSING…that it is indeed after all possible to control inflation by controlling the supply of money (as if by limiting the amount of individual “prints” that could be made of a work of art being produced as “prints).~Ideal Money
M. Friedman acquired fame through teaching the linkage between the supply of money and, effectively, its value. In retrospect it seems as if elementary, but Friedman was as if a teacher who re-taught to American economists the classical concept of the “law of supply and demand”, this in connection with money.
Nash explains the parameters of gold in regard to why we have historically valued it, he is methodical, and he also explains golds weaknesses in this context.
Its too difficult to cut to, because the nature of this problem is such that we all have incredibly cognitive bias towards not understanding it or seeing it.
Actually, it was visible to me too, but I didn’t see any particular need to introduce it to the discussion until such time as Flinter sees fit to do so. (I have seen a blog that I am pretty sure is Flinter’s, and a few other writings on similar topics that I’m pretty sure are also his.)
(My impression is that Flinter thinks something like bitcoin will serve his purposes, but not necessarily bitcoin itself as it now is.)
After painting the picture of what Ideal Money, Nash explains the intrinsic difficulties of bringing it about. Then he comes up with the concept of “asymptotically ideal money”:
Nash explains the parameters of gold in regard to why we have historically valued it, he is methodical, and he also explains golds weaknesses in this context.
I’m impatient and prefer to cut to the chase :-)
Its too difficult to cut to, because the nature of this problem is such that we all have incredibly cognitive bias towards not understanding it or seeing it.