Inflation is Theft! - Jeff Booth

Hello, welcome to another edition of “We Are Bitcoin”. I intend to start publishing these much more often.

Today I want to share my newest clip from the one and only Jeff Booth. I think he makes a compelling case explaining why Inflation is theft. The clip was part of the “What Bitcoin did” podcast of Petter McCormack episode: Finding Bitcoin Signal. The entire show (as it’s the case with every interview Jeff does) is priceless and deserves to be watched fully.

My goal with these short clips is to make content that can be shared to distribute information in a short and entertaining way, so please feel free to pass it around to friends and family.

This topic is usually one of the biggest entry point for normal people to understand the true value of an inflation resistant currency like Bitcoin. I hope more people around the world understand the true damage that inflation does.

I started playing around with the AI chat bot and I asked it to write me an article about why inflation is theft. The little machine did an excellent job:

Inflation is Theft

Inflation is a phenomenon in which the value of money decreases over time. This means that the same amount of money buys fewer goods and services than it did previously. Inflation is typically measured as the annual percentage increase in the general price level of goods and services in an economy.One reason why inflation is often considered to be theft is that it disproportionately affects people who are on fixed incomes, such as retirees who receive a set amount of money each month from a pension or Social Security. Because their incomes do not increase as prices rise, these individuals are effectively losing purchasing power as a result of inflation.

Additionally, inflation can also erode the value of savings, particularly for people who keep their money in low-interest savings accounts or other cash equivalents. As the purchasing power of money decreases over time, the real value of these savings also declines.

Furthermore, inflation can also lead to a redistribution of wealth from savers to borrowers. Because the value of money decreases over time, the real value of debts also decreases. This means that borrowers effectively pay back their loans with money that is worth less than it was when they borrowed it, while savers who lent money to these borrowers receive less in return.

In summary, inflation is often considered to be theft because it can lead to a transfer of wealth from people on fixed incomes, savers, and lenders to borrowers. It can also erode the purchasing power of money and reduce the real value of savings.

-ChatGPT for the prompt: “write a short article on why inflation is theft”

╚═★ 𝑈𝑠𝑒𝑓𝑢𝑙 𝐿𝑖𝑛𝑘𝑠: ★═╝

Full Podcast Episode:

We Are Bitcoin:

https://wearebitcoin.world/

Ego Death (Jeff’s Fund):

https://egodeath.capital/

꧁☆★ 𝒯𝓌𝒾𝓉𝓉𝑒𝓇 ★☆꧂

Jeff: https://twitter.com/JeffBooth
Peter: https://twitter.com/PeterMcCormack
What Bitcoin Did: https://twitter.com/whatbitcoindid
We Are Bitcoin: https://twitter.com/wearebitcoin_