"The idea that some authority can deduce the correct level of this balance is not merely wrong, it is not even wrong, it is methodologically incoherent. Asking for the 'correct' interest rate is like asking how much the color orange weighs."

~ Allen Farrington & Sacha Meyers

What if deflation isn't the economic boogeyman we've been told to fear, but the very *signal* that progress is happening?

In Part 2 of Allen Farrington and Sacha Meyers' brilliant essay, we dismantle the central myth of fiat economics – that printing money creates growth – and reveal why falling prices are the only honest measure that innovation has actually occurred. If the fiat prescription worked, where's the evidence? And why have central authorities never let us run the experiment?

Check out the original article: Number Go Down by Allen Farrington and Sacha Meyers (Link: https://x.com/allenf32/status/2045477517201477686)

References from the episode

Part 1 of "Number Go Down" – make sure you catch it before this one. (Link: https://fountain.fm/episode/fLqds61ds9YbsnqGOkE8)
"Bitcoin is Venice" by Farrington & Meyers – second edition announced for 2027. (Medium: https://allenfarrington.medium.com/bitcoin-is-venice-8414dda42070) (Amazon: https://www.amazon.com/Bitcoin-Venice-Essays-Future-Capitalism/dp/B09TTTGT11)
"On the Manipulation of Money and Credit" by Ludwig von Mises. (Link: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2212135)
And the companion Guy's Take coming soon on Bitcoin, Trust, and The Human Problem.

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“Because a tree in spring buds and co...

Read_941 - Number Go Down - Part 2

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