Deflation is a fiction!

00:02 hey everyone so uh now and then the
00:05 topic of deflation comes up so what is
00:07 deflation deflation is when prices are
00:09 falling rather than Rising the natural
00:12 state of the universe is that prices
00:14 should be falling not Rising it is only
00:17 because the government has duped you
00:20 into believing that prices should rise
00:22 that they do if the government did not
00:24 print money out of thin air there would
00:25 not be rising prices there’s no reason
00:28 prices have to rise making your life
00:30 harder to live that is entirely a
00:32 fiction created by governments to enable
00:35 enable them to print more money so if
00:37 you want the details of this uh read
00:39 Jeff Booth’s book the price of tomorrow
00:42 uh which is a book about deflation um
00:45 but the short take is anytime you have
00:47 sound money whether it’s gold whether
00:49 it’s uh Bitcoin I mean gold is more
00:51 scarce than uh sorry Bitcoin is more
00:53 scarce than gold but gold is more scarce
00:56 than anything other than Bitcoin so
00:58 let’s group them together as sound money
00:59 even though coin is more sound money if
01:02 you have something with a finite Supply
01:03 like gold or Bitcoin um it will be
01:06 deflationary meaning you will be able to
01:09 buy more stuff over time with that asset
01:13 than you can uh without that asset or
01:15 than you can with sort of a fiat
01:17 currency or something that is not uh you
01:19 know that is priced in an unlimited
01:20 Supply but that is a good thing so if
01:23 you ask the average consumer would you
01:25 rather have the price of everything go
01:28 the direction of you know large flat
01:31 screen TVs or the current medical system
01:35 most people would prefer the the the
01:37 price of flat screen TVs so technology
01:39 in our lives my first computer cost
01:41 thousands of dollars you can buy a way
01:43 way way better one for a few hundred
01:45 dollars right now at Best Buy or even
01:47 $100 or less than $100 at Best Buy you
01:50 can buy a better computer than cost me
01:52 thousands uh you know 25 years ago um
01:55 same with televisions you can buy a
01:57 massive large-screen TV for a few
02:00 hundred bucks when those first came out
02:02 they were thousands of dollars nobody is
02:04 complaining that the price of
02:05 televisions the price of computers the
02:07 price of electronics in general
02:09 especially you know uh uh generic
02:12 Electronics obviously the price of
02:13 something like an iPhone is more
02:14 expensive but that’s because it’s part
02:16 of an exclusive uh ecosystem and it gets
02:18 you know way better every time and all
02:20 that sort of stuff but for things where
02:21 there’s competition um and there is for
02:24 like Android phones you know the price
02:25 of Android phones keeps coming down even
02:27 if iPhones do not um the economy works
02:30 great when things are getting cheaper it
02:32 works way better for everyone when
02:34 things are getting cheaper uh the only
02:36 reason people are opposed to price drops
02:38 is because economists Keynesian
02:40 economists and John Maynard kees was one
02:43 of the worst humans that ever lived as
02:45 far as Damage Done To The World uh
02:48 because his ideas were so flawed it was
02:50 based on the fact that everybody should
02:51 be deeply in debt and you know uh you
02:55 know we should have huge massive
02:56 governments and all this sort of stuff
02:57 it was just awful ideas but anyway uh
03:00 since uh the mainstream media and
03:04 Academia the colleges and universities
03:06 mostly are occupied by people who
03:08 believe in these big government ideas
03:11 and you know big Government Solutions
03:14 they’re all in favor of more money
03:15 printing because it gives the government
03:16 more money when the government prints
03:18 money they get it first and you get it
03:21 later when all the prices are up which
03:23 means the government the when the
03:24 government prints money it doesn’t do
03:25 you any good it does someone else good
03:28 and then you just get the the result
03:29 which is the high prices so um
03:31 everything in the world should be going
03:33 down in price not up the entire world
03:35 would be better off if everything was
03:37 slowly trending cheaper if your wages
03:40 and your paycheck bought more a little
03:43 bit more every two weeks wouldn’t that
03:45 be great well that is what deflation is
03:47 it’s when the price of what you need
03:49 gets cheaper over time rather than going
03:52 up and that used to be the case back
03:55 when the world was on a sound money
03:56 standard and especially it became not
03:59 the case after 197 1 when Richard Nixon
04:02 officially took the US dollar off the
04:04 gold standard and made it based on
04:06 nothing literally a figment of the
04:08 government’s imagination which is why
04:09 it’s called fiat currency because it’s
04:11 made by Fiat which is just a dictate by
04:14 the government that something has value
04:16 even though it’s not based on any sort
04:17 of scarcity or uh you know anything like
04:20 that so if you want more details read
04:23 Jeff Boo’s book the price of tomorrow
04:26 and he goes into all the details and you
04:28 know you’ll you know you you’ll know
04:30 everything you wanted to know about
04:31 deflation but uh deflation is good again
04:34 as long as it’s caused by economic
04:36 growth and it’s not artificially induced
04:40 um like it was in the Great Depression
04:41 where they massively reduce the money
04:43 supply for no good reason um so uh as
04:46 long as you’re based on a sound money
04:48 standard and the um you know it’s not
04:51 artificially induced as a uh sort of a
04:53 shock imposed by the government uh which
04:55 happened during the great Great
04:57 Depression um then deflation is
04:59 fantastic and Bitcoin would create
05:01 deflation everything priced in Bitcoin
05:03 keeps getting cheaper everything priced
05:05 in Gold keeps getting a little bit
05:07 cheaper over over a long enough time
05:09 period but everything priced in Bitcoin
05:11 gets way cheaper over a long enough time
05:14 frame um you used to have to you know a
05:17 house would cost you 10,000 Bitcoin and
05:20 now a house costs you a few Bitcoin so
05:22 anyway um so deflation is a good thing
05:25 uh we’ve only the only reason people
05:27 think it’s not is because we’ve been
05:28 lied to by the government and their
05:30 cronies to enable them to print money
05:32 and nobody has a good answer for why
05:34 inflation has to be 4% a year or even 2%
05:37 a year nobody has a good explanation for
05:40 why the prices have to go up they have
05:43 to go up so that someone else can print
05:44 money at your expense that’s the answer
05:47 that is why prices have to go up because
05:50 that is a natural consequence of
05:51 printing money and they want to print
05:53 money that you can’t have first and they
05:57 have to have I mean that creates
05:58 inflation you cannot print money without
06:00 inflation you cannot get inflation
06:03 without money printing that is the the
06:05 two of them are always