Postwar Japan and Germany were pegged to the USD after Breton Woods and until 1971z China is still pegged to the USD at an artificially low rate. Calling them “strong currencies” is not being intellectually consistent. Also consider that during the 1800s all major industrialized countries were on a gold standards and I’m talking about the relative strength of currencies.
It seems that a relatively stronger currency just means that a country’s manufacturers have to continually move up the value curve to compete. A hard money results in higher “natural” interest rates, which requires higher ROI investments (aka actual productive investments of debt), which then lead to higher capital formation, and finally higher quality, more complex manufactured good.
In other words, a country on a Bitcoin Standard is going to be making chips and spaceships, not plastic widgets.
Would we already be on Mars if not for Nixon closing the gold window in 1971?
thebitcoinrich / Rich
npub1j5…46wzq
2023-05-04 19:39:40
in reply to nevent1q…je8v
Author Public Key
npub1j5vvae9whtwl63gdzt3hvmdqdw8xuwlnr43hjzrwxmu02tuudels746wzqPublished at
2023-05-04 19:39:40Event JSON
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"content": "Postwar Japan and Germany were pegged to the USD after Breton Woods and until 1971z China is still pegged to the USD at an artificially low rate. Calling them “strong currencies” is not being intellectually consistent. Also consider that during the 1800s all major industrialized countries were on a gold standards and I’m talking about the relative strength of currencies. \n\nIt seems that a relatively stronger currency just means that a country’s manufacturers have to continually move up the value curve to compete. A hard money results in higher “natural” interest rates, which requires higher ROI investments (aka actual productive investments of debt), which then lead to higher capital formation, and finally higher quality, more complex manufactured good.\n\nIn other words, a country on a Bitcoin Standard is going to be making chips and spaceships, not plastic widgets.\n\nWould we already be on Mars if not for Nixon closing the gold window in 1971?",
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