[ExI] Sell your Bitcoins!

[spike at rainier66.com]

From: Keith Henson <hkeithhenson at gmail.com> 
.

>…The treasury cannot print counterfeit cash by definition….

 

They can only print what is covered by sales of T-bills.  Real money must be loaned to the treasury in order to authorize it to print that amount of money.  But that’s all it can print.  If it prints more money than sales of teebs generated, that amount is counterfeit.  The treasury cannot legally print more than it takes in.

 

If no one will buy the teebs, they must offer higher interest to incentivize investors, which might be where John was getting that notion of money printing being inflationary.  

 

In any case, a former economic advisor explains everything thus:

 

https://www.youtube.com/watch?v=1Fj0zRmEWYc

 

>… Nor do I understand how things will work out after the  singularity rolls over everything…

 

Ja, I am with you there.  AI might disrupt commerce to where the treasury printing money doesn’t have much effect.  We still need electronic communications to support modern commerce.  We do not have the option to returning to paper money.

 

It might be that the singularity just kills everybody, as Eliezer has been warning for decades.  But what I lie awake worrying about is if it doesn’t.  Then what?

 

spike

 

 

 

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