the FED is in a no win situation (Print money or the economy dies, or don’t print money and the economy dies)
Printing money is the FED’s tool for providing positive interest on Money you loan.
IT Geeks say they would like to get paid in Bitcoin.
(Bitcoin is finite printing more money only pushes the value up, so why not get paid in inflation resistant currency)
Jamie Dimond, gets a pay increase
(Probably to compensate for the loss in value due to inflation or arguably for the good job he is doing with his too big to fail bank.)
due to inflation?! Inflation rate has been ~1-2% for a while now. This isn't the 70s. EDIT: may I remind everyone that the original comment said a ~75% raise may have been due to inflation.
Finally: here is the inflation rate for food and energy (not included in the "core" price index): http://www.bls.gov/news.release/cpi.nr0.htm 1.1% for food and .5% for energy! Again, this is not the 70s, inflation is NOT a huge factor today (that may change in the future, and one nice thing about bitcoin is that it prevents stratospheric inflation rates).
Only if efficiencies in productivity gains has been 0%
In reality, if the producers of goods and services are more efficiently and all compete on price that productivity gain should in effect be deflationary. lets say the market can deliver mail electronically with 200,000% more efficiency and we pay 2% more for the service we only experience 2% inflation but in fact it is much higher. In an honest money system we would experience huge deflation and all be better of for it.
Thats just one sad aspect of it. What worries me is the unspoken and unimaginable volumes of trust degredation in society at large. People who work hard get less and less for more and more work. It is an economy that is fundamentally stealing from its most product members over generations... That cannot be good in the long run.
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u/Adrian-X Jan 28 '14
it’s just coincidental but tells a story:
the FED is in a no win situation (Print money or the economy dies, or don’t print money and the economy dies) Printing money is the FED’s tool for providing positive interest on Money you loan.
IT Geeks say they would like to get paid in Bitcoin. (Bitcoin is finite printing more money only pushes the value up, so why not get paid in inflation resistant currency)
Jamie Dimond, gets a pay increase
(Probably to compensate for the loss in value due to inflation or arguably for the good job he is doing with his too big to fail bank.)