So, when China manipulates their currency, and we get upset about it, we probably won’t do anything because we fear their giant military and arsenal of nukes. But, it’s unlikely that the engineers behind Bitcoin can provide the same intimidation tactics.
I wonder how he thinks that Bitcoin can be manipulated. That's kinda the point, isn't it, that it can't?
The point's still voiced by other followers of the inflatory church though, that inflation is needed for growth but that sounds like profits are only possible by central banks printing them. This recent offshore banks info suggests that's true, extra money has to be printed because it will be stashed away and so be taken out of circulation when it gets to the top of the heap.
That would be a valid point, if the money were introduced at the bottom... but it's not, it goes to the special interest groups and contractors. So the bottom half is left to scrabble for an increasingly small pile of leftover scraps.
A deflationary currency, while it encourages saving over borrowing, discourages - or at least reduces the impact of - hoarding, 'cause billionaires gotta eat, too.
