A Quick Reminder Why Bitcoin Was Invented in the First Place

medium.com

13 points·js7745··3 comments

"Banks have discovered that they can siphon off all the productivity increase + 2% every year, without people complaining too much. They accomplish this currently by increasing the money supply by 5% per year, getting this money returned to them at an interest."

This bit is missed by large swaths of the population. But it's not just banks profiting this way, it's government. Deficit spending and funding all these wars is enabled by this mechanism. There's a reason large historic banks have tended to fund wars.

and funding all those road-building, social security, university research, school funding, post-disaster management, public transportation, space programs, etc.

I highly doubt the logic of the gov't is "oh let's get more fiat money so that we can start more wars". The wars are probably first in the causality chain, if anything.

Governments have started pointless, costly wars long before they could print unbacked money

Government isn't a singular entity, so it's meaningless to point out that "war" is not it's singular priority. Government as a whole inherently has mixed priorities, because it is a collection of individuals, each with his/her own unique priorities.

It is, however, reasonable to consider the United States' $600 billion per year spending on "defense" as evidence that fighting wars is a major priority.

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