- “If they can pass the debt to future voters, then they can win the votes of current voters. So the incentive of the government is to create inflation because it lowers the cost of borrowing.”
- “You have to protect yourself in this inflationary environment. But if you’re already super rich and you already own all these assets, then you win by default”.
- “In 2020, Forbes reported that the increase in wealth for the Forbes (richest) 400 went up the highest in 2020 than in any year since they started recording. The reason it went up the highest rate is because they printed money”
- “What is the incentive for a politician? The incentive for a politician is to gain power and stay in power….how are they going to try and get votes? By spending a whole bunch of money without taking money from the taxpayer…they pass the book down the road”.
This was a fun one.
There are bigger things in the world than cryptocurrency; more important issues. Michael Kong, CEO of Fantom, understands that. It’s also what cryptocurrency is trying to solve, although we aren’t there yet – something he acknowledged and we discussed at length, assessing whether it is reasonable to compare to the Internet growth or other benchmarks you often come across.
Personally, I’m pessimistic about the state of the economy right now. The cost of living crisis has hit regular people hard. Houses are becoming increasingly unaffordable – part of the reason I left my native Ireland and…
