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