Comments by "Edward McLaughlin" (@edwardmclaughlin7935) on "Whatever else is claimed about it, crypto is not a currency" video.

  1. Government promises? We're supposed to put our trust in the word of people who have demonstrably and repeatedly told us lies about our monetary system and how it works? No thanks. UK governments of both stripes have routinely deployed the stealth tax of inflation for decades - the last Tory administration raised the bar, printing over £400 billion of currency out of nothing, just since 2020. Labour will carry the process along, so that our wages, our pensions and our savings are stolen by slight of hand - our accounts will show us that we still have the same number of £s, while the buying power of each of them is drastically reduced. I share the scepticism shown here toward crypto; it is not anybody's currency, nor is it a store of wealth due to its wildly ranging swings in value. However, to refer to these swings as 'inflation and deflation' is - once again - to use those terms in a way that simply confuses what is happening.
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