Re:Bitcoin consumed 134 TWh in total during 2021
by grlthng on Monday January 03, 2022 @09:13PM
(#29790344)
> If nations no longer control their money, does it mean they can go bankrupt?
Yes, happens all the time where countries default on their debt obligations even when they "control" their money.
> Would have the EU and the US been able to create stimulus packages?
Yes its called taxation, and maintaining a reserve. Just like how normal people save up for a rainy day. They can even borrow money (bonds) from the public like they've done for hundreds of years.
> What about adjusting the inflation to the economic growth rate of a country?
The vast majority of failed monetary systems in the last hundred years is due to central banks printing too much money. So maybe we should stop letting the central banks attempt to control something they barely understand?
Yes, happens all the time where countries default on their debt obligations even when they "control" their money.
> Would have the EU and the US been able to create stimulus packages?
Yes its called taxation, and maintaining a reserve. Just like how normal people save up for a rainy day. They can even borrow money (bonds) from the public like they've done for hundreds of years.
> What about adjusting the inflation to the economic growth rate of a country?
The vast majority of failed monetary systems in the last hundred years is due to central banks printing too much money. So maybe we should stop letting the central banks attempt to control something they barely understand?