Re:Bitcoin not for me, says Bill Gates
by imtringued on Friday February 26, 2021 @02:39PM
(#26278933)
>v when people hold a lot of money.
The point is that they don't. Money is supposed to be itchy. You're supposed to spend it.
When you spend money you are paying someone else's salary and that someone can spend money on things you provide and pay for your salary.
With deflation you basically get the minimum possible economy, which means lots of unemployed people. Their work isn't needed and by extension the person itself isn't needed either so we would be better off with the minimum number of people possible. That means heading straight to 0.
The point is that they don't. Money is supposed to be itchy. You're supposed to spend it.
When you spend money you are paying someone else's salary and that someone can spend money on things you provide and pay for your salary.
With deflation you basically get the minimum possible economy, which means lots of unemployed people. Their work isn't needed and by extension the person itself isn't needed either so we would be better off with the minimum number of people possible. That means heading straight to 0.