RE: 50 Years Of Technological Advancement In The Next 15 Years
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Huge upvote for someone who finally gets it.
The Fed, along with the other Central Banks, is not printing money out of corruption. They are doing it since they have no choice.
If they did not, the deflationary forces of technology would simply overwhelm the system. When 6%-8% of the US economy is under IT, with a historic deflationary rate of 30% (and likely moving higher in the next decade), how can that be counter balanced? The only way is to keep increasing the money supply, which furthers the development of more technology.
Right now, we need an annual expansion of about 20% of the money supply to keep up. That will give the gold bugs like Peter Schiff a heart attack.
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