Bitcoin Forum

Why Economists Are Right to Hate on Bitcoin

 Why Paul Krugman  Hate Them

 http://business.time.com/2014/01/03/bitcoin-paul-krugman-is-right-to-hate-them/#ixzz2pPYZa33J

These people don't understand.

When I am forced to use something, especially when I am forced to pay heavily just to use it, of course I am going to expect a lot more from it and get a lot more picky.

The reality is the unwashed masses have been coerced into believing in the "intrinsic value" of fiat.

Once they see that the emperor has no clothes, they will naturally run - not walk - to Bitcoin.

For many people, it might be a bit too late as they will see huge amounts of their fiat denominated capital and wealth obliterated as our global economy, in which printing new money is based entirely on debt, continues to implode as the charade becomes utterly unsustainable.

This "teaching" about money is actually one of the most powerful gifts of bitcoin. It strips these high priests of economics and their beloved fiat of all their tricks of illusion and manipulation. It helps us all to see through to what is really going on. Of course they don't like it - it cuts to their identity and value to society - and shows them as the dictators that they are. And they don't like to see themselves that way. I'm sure Krugman would hate to think of himself as a fascist dictator or sycophant for the dictator, but that is what comes clear when you read his piece about Bitcoin - he does not believe in markets or free choice. He does not see it yet, but we can all see it now clearly.

+1.  

Krugman is a tool, and about to schooled in the difference between currency based on math and currency base on Keynesian voodoo economics.  I doubt he or his ilk will learn much from it, they have a vested interest in maintaining control over everyone else.