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RE: Does Deflation Spur Consumption? (Contrary to conventional Wisdom)
Money is not a resource. Deflation encourages people to sell resources (actual tangible stuff) to hoard intangible money. All trades only cause resources to change hands. The goal is to move physical resources to the highest purpose the most efficiently.
Hoarding money is a virtual resource which means it is not interfering with allocating of physical resources.
OK thanks for explaining:)
That's a powerful comment.
I sometime feel so angry when I think about those guys i.e. Federal Reserve that creates
currencymoney out of thin air and can wager so much power over who gets what but in recent weeks I've mostly been filled with enthusiasm thinking about Steem and it seems like Steem could possibly dilute Fed's power a lot more elegantly that I could ever hope.