this post was submitted on 30 Apr 2025
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Central bank monetary policy requires that we pay 2% more for goods every year as technology makes things cheaper and we exclude asset price inflation. They construct a wall of debt via low interest rates for inelastic goods like housing in order to provide a windfall to boomers in order to force the prices of goods upwards, every new mortgage new money supply being created.
That wall of debt that is gatekeeping inelastic shelter is what poverty looks like, prices can't rise without providing new money supply, and some poor smuck holding that IOU for the first movers to consume. Blaming the rich, whose nominal asset value is inflated by this system, is a naive view; they are simply being spoon fed wealth in a desperate attempt to get them to consume a portion of it. Every bailout for any type of correction caused by an error or oversight in the system is then funneled back to them as wages are debased.
This likely explains the fanaticism around Bitcoin and gold, I think we can all see who is served by the existing system, and its definitely not the poor.