As I said; I can default. A bankruptcy would let me even keep quite a lot of the property. Government printing is the same as that default, or at least the opposite side the coin. They get to keep their spending, your savings get devalued.

inflation isn't free, and it is not magic - (there are other reasons it might be better for growth than deflation) but in terms of government purchasing power, a growing economy without and increase in money supply would just mean the existing money buys more, so government budgets could just stay 'static' and effectively they'd be increased year-over-year in terms of real value/spend.

I come back to; for all intents my home budget really isn't so different than a sovereigns budget. The notion that maco and micro economics are different in terms of deficit and liability accumulation, is an article of faith, and that is all. Its not backed by anything but orthadoxy and wishful thinking.

1) - Entirely correct; a block chain currency is stupid
2) - Also correct and the reality is governments need these things, which is why I think it would be about the dumbest move in history but..

lets again say your goals are
* Dodge the legislature and the existing body of law
* Get people to continue participating in your economy, while also doing something that will completely destroy any faith and trust in your ability to control a currency for generations because you're effectively going to swipe their life savings.

lets also assume you don't really care about (2) because you have the view, however misguided that you have the biggest guns and enough well-armed law enforcement and military assets that you can just go bust skulls and shatter hands or regime change any entity that won't comply with your edicts.

My engineering hat very much tells me that this had bad idea written all over it but; I don't know if many of the leading plutocrats and elected officials alike even have engineering hats.

People keep saying this but where is the real evidence for it?

We have been doing this pure fiat experiment for less half a century. It seems to me it works only as long as people are willing buy government bonds and that is only as long as they think the interest paid outweighs the time depreciation + whatever value they place on the 'security in terms of capital preservation'

This is exactly the same as my home budget, I can spend more than I make as long as people will continue to extend me credit ...

Once that stops working the government has to rely on balance sheet expansion to meet its obligations. the 2020s have proven deficits DO matter because if you pump the money supply, when there is any supply/production constraint the people that do have money take it off the side lines a buy the things they want by out bidding everyone else for it. Inflation skyrockets! In the market economy distribution of goods then becomes even more wildly unequal.

This too is actually pretty similar to my home budget in that I can default, file for bankruptcy and my creditors will be forced to take a lot of write downs, and I'll get to keep a lot my stuff. I can do this at least once.. (maybe some governments can get away with it more than once, maybe we don't know)

The scary/evil part is when the government is in complete control of the food supply, because that's how you get Holodomor (ie, the government exports food out of the country during a famine in order to oppress enemies of the regime).

There are exceptions, but the vast majority of Americans believe people shouldn't starve (and most would like the government to do something about it). Even Libertarians think people shouldn't starve, although they don't agree on how to stop it.

Just be sure who the fools are. While this applies to the Federal government more, Texas might know something and might be hedging.

I mean if I was a large government with structural financial problems, deficits that politically I could never close and mountain of existing debt.. I might be very interested say transitioning the real economy to something like bitcoins, (giving my wealthiest friends a heads up on that of course).

Get business selling stuff in btc, paying employees in btc, collect taxes in btc, pay government contractors in btc, etc; then you can print print the old currency as much as you like, it won't inflate the btc the real economy is running on, but you can pay off all you legacy currency denominated debts with no pesky legal hurdles no force measure, no 'voluntary write downs', no 'default' that trigger other credit events and penalties... You just wipe out everyone's savings and there is fu*k all they could do about it. Everyone would also include foreign sovereigns that hold a lot of your legacy currency in their reserves.

As importantly all your existing appropriations, entitlement obligations are in the old currency too, so if some court say "no nope congress appropriated 150Billion to Harvard to search for snails with reverse twisting shells you must pay them" you can just sure "here is your pallet of newly minted cash, good luck finding anyone who will still accept it"

Now you might say why bitcoin. Well because as crypto goes it probably has the most trust. Importantly you don't control the issuance so even if you are large holder of bitcoin you might still succeed in getting people to accept it and use it as a perceived safe store of wealth, even as you vaporize any trust anyone has in your legacy currency and debt instruments..

Now I am not saying this is going to happen. I am not saying it does not create a lot of problems. I am not saying if someone like Scott Bessent actually has such an idea it won't be recorded as one of the biggest mistakes in human history; because I think it would certainly be among. I can see the appeal though..I can imagine some of our plutocrat class having the hubris, recklessness, and greed needed to think it is a good idea as well.

a government or anyone may decide they need a reserve of something in case it later becomes unaccessible when needed. When can a government *need* BTC? Needing oil or food or water or weapons or gold is understandable, those are real things and it is possible to run out of these items and be in a position where access is limited.

If one "needs" crypto currency they may either purchase it in the market freely or just start their own, even Trump has done this on multiple occasions.

Note, it says "a reserve", not a speculative asset to gamble on its price.

I haven't watched Fox News live for nearly 20 years. Sometimes I watch clips on youtube.

Do you even have cable? Where do you watch Fox News?

Your reading comprehension is astoundingly good So good that you see things no one else does.

How do you know so much about Fox News?

They'll find another excuse to lay people off.

It's HP, they've had a culture of stagnation, status quo, decay and lack of innovation for decades now. You could also add backstabbing, lack of transparency, insane office politics, corporate hellscape as a part of their culture. Their existence shows how far you can get based on a culture of stagnation.

The workers tried overthrowing the government. Jewish Bolsheviks seized power and ruled the country. They then murdered ten million Christians in Ukraine.

This genocide was covered up by the New York Times, who won a Pulitzer Prize that they still proudly display today.

Why do you think Big H was so fixated on invading Russia and eliminating Jews?

The Bolsheviks openly declared their intention of conquering all of Europe. They tried, too, only to be stopped by the valiant Poles at the Vistula.

Everyone knows about H and the six million, but nobody has heard of Yagoda the Jew and the ten million. Make Yagoda famous!

There is no material that is not crackable/breakable.

In space, no one can hear your karma.

? Time for you to take a break and come back when your mind is more clear. At least this post isn't as bad as the guy who claiming rocks can think.