What Would a Bitcoin Deflationary Global Economy Look Like – Miyagi Mornings Epi-143 - Jack Spirko
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This was a fantastic question that came in by email for my podcast but I thought it would be exceptional for a Miyagi Mornings. Here it is exactly as it came in from a long time listener named Dan.
"How would a deflationary economy work?
If our entire economy was based on a currency with a fixed supply like bitcoin,
1. What’s the velocity of money look like?
2. How is money lent particularly for large long-term lending. Houses, New Factories, etc.
3. How is economic growth effected/measured.
4. Wouldn’t % economic growth roughly translate to % appreciation of the currency?
I’d like to hear your take on it.
Thanks for what you do!
Dan in TN"
I love this question and will do my best to answer it in the 20 minute Miyagi Morning’s time allotment. What makes it beautiful is what also makes it difficult to fully explain in 20 minutes though. Dan is clearly a long time student of what we teach about money, hence he is focused on concepts like capped currency, velocity of money, etc. If any of what I say today is challenging I recommend listening to these three podcasts to really gain the background Dan is drawing from in his questions today.
Really Understanding Money – http://www.thesurvivalpodcast.com/really-understanding-money
A New Understanding of Money Part One – http://www.thesurvivalpodcast.com/tsprw-002
A New Understanding of Money Part Two – http://www.thesurvivalpodcast.com/tsprw-003
Those three podcasts have been lauded by listeners with economic degrees who have said things like, "I just learned more in this one podcast than I ever did in a full year of economics courses in college".
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