Why Chamath Is Wrong About Inflation

Why Chamath Is Wrong About Inflation

Recent comments from Chamath Palihapitiya indicate that he doesn’t understand how inflation or monetary sovereignty really work.While billionaire Chamath Palihapitiya has been an early, vocal proponent of Bitcoin for nearly a decade now, his grasp of Bitcoin's ethos seems to be fraying. Setting aside his recent snafu with Bitcoin veteran and advocate Surfer Jim, Chamath doesn't seem to understand principles of inflation, wealth inequality or their historical context.When Lyndon B. Johnson enacted the Great Society programs of the ’60s to alleviate poverty and elevate the general well being....

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