Tuesday, December 5, 2023

Minting Money is a Crime

 It's also kinda necessary. 

 Inflation is merely the latest version of seizing a monopoly on minting coins. Inflation is merely theft, which reveals that owning the mint was always theft. Check: the Romans largely used the mint to steal. Assertion validated. Thieves are traitorous, dishonourable and defective deviants. Don't permit a defective government; if they seize the mint, burn down the mint. Not allow.

 Since coinage or an equivalent is necessary, there must be a solution. Luckily, it's easy. You're allowed to mint coins if and only if you don't keep the coins. Distribute them for free.

 

 I like the idea of explicitly signing a social contract. Someone who signs the contract can be incentivized by giving them minted coins. A celebratory and ritual gift.

 Basically a baby shower, but it's from the government* and it's a substantial amount of money, like $300,000. *(A government doing this is clearly a white government.)

 Distributing the minted coins evenly is also fine. 

 Athough it is unlikely any perpetual organization will want to bother with minting if they're not allowed to keep the minted coins. They will remove the activity from the balance sheet for being a losing proposition. 

  

 Remember, if your government is asking what you can do for it, the government better well be asking what it can do for you. 


 Note that in Bitcoins' final form there will be no inflation. There's a hard cap.

3 comments:

  1. “ Note that in Bitcoins' final form there will be no inflation. There's a hard cap.”
    Please expand on this. Thanks!

    ReplyDelete
  2. There's a grand total BTC, it's 21 million as I recall.

    Right now, some fraction are issued. Say 13 million or something. Mining rewards are in part issuing some asymptotic fraction of the un-issued bitcoin. Eventually every BTC will be issued and the only reward from mining will be tips paid to process the transaction.

    ReplyDelete
  3. That looks suboptimally clear. Let's try addendum.

    Say 13 million BTC are in circulation, leaving 8 million unreleased BTC. Releasing unreleased BTC is functionally identical to minting or gold-mining, and it causes inflation.

    ReplyDelete

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