Balaji
@balajis
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Immutable money, infinite frontier, eternal life. #Bitcoin
The Network State
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東京15区
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The net result of FTX is that billions of dollars was stolen from crypto investors to give to Democrat-aligned politicians, nonprofits, and journalists.
This is why there may be no prosecution.
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I cofounded a clinical genomics company that sold for $375M
You work at Buzzfeed
Not to say that a co charges money to open emails is wrong. But people like him handwave and throw out whataboutisms suggesting they’ve been blocked from affecting some great societal change when all they’ve been doing is mining crypto and tweeting.
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Hardware is hard.
That’s why Elon is by far the greatest founder of all time.
Remember — countless startups die just while trying to put stationary beige boxes on desktops. Very smart people get crushed by supply chain disruptions, or China tariffs, or lockdowns, or shipping…
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Satya wins.
Reflexes of a startup CEO.
Resources of a trillion dollar company.
Pulls this together in 48 hours from a cold start.
Gets it signed and over the line before markets open.
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France has 67.4M people.
India has 1.38B people.
But France has a permanent seat on the UN Security Council, and India does not.
So why do people claim the world order is "democratic"?
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I don't think people realize that there is no normal to go back to anymore.
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If the logic is that women must be 50% of boards, why shouldn’t Republicans also be 50% of boards?
They sure are an underrepresented minority in tech.
One of the biggest tasks ahead for OpenAI is building a new board - one that includes women:
The names of several women were floated including
@laurenepowell
and
@marissamayer
but deemed too close to
@sama
.
@CondoleezzaRice
also considered but dismissed.
We’re told the new…
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Many founders aren’t hiring from Harvard. They’re hiring from Twitter.
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If Republicans were smart, they would propose a bill to pay down student loans by seizing college endowments.
The newly debt-free would be able to afford families, turning them Republican.
And universities would pay for the debt they saddled students with, not taxpayers.
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The state has far more money than anyone. But they are behind SpaceX, because tech isn’t capital-limited, it’s competence-limited.
After all, who knows more about rocket science — politicians or Musk?
Sen. Bernie Sanders: "It is not acceptable that the two wealthiest people in this country, Mr. Musk and Mr. Bezos, take control of our space efforts to return to the Moon, [...]This is not something for two billionaires to be directing."
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Vox is sending about 0 million masks to the front lines of the coronavirus crisis
That sounds terrible until you remember that they helped cause the crisis by publishing just-the-flu misinformation, and still haven’t either apologized or retracted
Then it sounds more terrible
Silicon Valley is sending about 9 million masks to the front lines of the coronavirus crisis.
That sounds great until you dig into the numbers — and until you think about whether we should be this reliant on corporate philanthropy.
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The BitSignal
How do you ring the fire alarm on the internet?
How do you show it’s not a false alarm?
I am putting up the BitSignal.
$1M in BTC to alert us to the stealth financial crisis.
$1000 per tweet, for the best 1000.
Reply with your charts, graphs, stats, memes!
Bring…
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China builds a train station in 9 hours.
California can’t build a bus shelter with 8 departments.
Typical bus shelters often cost $50k or more and require coordination among 8 departments. La Sombrita (in its most expensive, prototype form) costs approximately 15% of the price of a typical bus shelter and can be installed in 30 minutes or less.
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Going viral
What if this coronavirus is the pandemic that public health people have been warning about for years?
It would accelerate many pre-existing trends.
- border closures
- nationalism
- social isolation
- preppers
- remote work
- face masks
- distrust in governments
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I will take that bet.
You buy 1 BTC.
I will send $1M USD.
This is ~40:1 odds as 1 BTC is worth ~$26k.
The term is 90 days.
All we need is a mutually agreed custodian who will still be there to settle this in the event of digital dollar devaluation.
If someone knows how to do this…
I'll bet anyone $1 million dollars that the US does not enter hyperinflation
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Like everything else in Sulzberger’s paper, the NYT bestseller list is fake.
They were forced to admit in court that it’s not a ranked list. It’s actually “editorial content” and they can exclude books they don’t like.
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They want you fired for a tweet, while they clap for a fraud.
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1942: Build up Russia to fight Germany
1972: Build up China to fight Russia
2022: Build up India to fight China
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Bitcoin has passed all-time highs in 30+ countries, including China and India.
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For those of us who are old enough to remember it, I’m glad we had the 90s. It was an idyllic time.
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The folks who say billionaires should not exist are working hard on making everyone trillionaires.
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Just as in 2008, the bankers lied.
This time, the central bankers, the banks, and the bank regulators have lied to all dollar holders and depositors.
This isn't your typical fractional reserve situation. The problem is that there isn't enough in the …
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I've been writing a book on how to start a new country.
It's finally coming out.
You can preorder it now.
It arrives on July 4.
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A mistake people made early on was thinking of the internet as a new channel: radio, TV, and internet.
In reality it was *all* channels: internet radio, internet TV…
Same with crypto. It’s not an “asset class”. It will be all asset classes.
Cryptocurrencies, crypto-equities…
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Sam Bankman-Fried was a Democrat.
And not just any Democrat.
The
#2
donor after Soros.
A vocal proponent of the regulatory state.
Also a fraud — like the regulatory state.
Which he legally bribed to target others but not him.
That isn’t libertarianism.
It’s the exact opposite.
@balajis
Your libertarian cult is responsible for this mess. You should take some responsibility for what you have wrought.
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Zuck should pull out of this conference.
He has an audience of billions.
He doesn't need to give an audience to a guy who stole billions.
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The Soviets and Nazis were allied at the start of World War 2 and invaded Poland together.
Russian actor Vasily Lanovoy: "In Europe, journalists asked me: 'Why do you celebrate Victory Day like that? We have already forgotten it.
I asked them, "How many days did your countries resist Hitler?" They are silent.
Then I continued: "Poland was…
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Can’t wait for the billion dollar media corporation owned by millionaires to endorse the millionaire who tells us how bad millionaires, billionaires, and corporations are
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From abolish the police to militarize the police.
From denying crime is up to executing a military crackdown.
From saying you don’t need a gun to sending in men with long guns.
It’s always the same pattern.
First they unleashed the anarchy.
And now comes the tyranny.
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India’s new parliament was built in under 2.5 years and cost less than $125M.
An ancient civilization is ascending once again, returning to its rightful place on the world stage.
India is back.
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People forget just how completely non-obvious the entire digital revolution was every step of the way.
1995: WWW will fail
2002: Google will fail
2007: iPhone will fail
2013: Facebook will fail
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Everyone wants a piece of the reward, no one wants a piece of the risk.
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X should implement a feature called "On This Day."
It would rewind the timeline to any given day since Twitter's founding to let you feel the pulse of the moment. A crucial tool for modern historians.
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Introducing the Network State Podcast.
The first episode features me and
@VitalikButerin
. We talk about starting new countries, upgrading Ethereum, and improving yourself!
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Can you believe that the Wright brothers went into the air without the go ahead from the FAA or *any* kind of collective decision making? They decided to fly just because they could.
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PRINT TRILLIONS WHILE HIKING RATES
The Fed now has “high rates” like SF has “low crime rates”. It says it does, but it doesn’t.
Because you have to be pretty naive to think today’s rate hike means the Fed is still “fighting inflation”. You can see it in the graphs — the…
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Rishi is right. Inflation is taxation. It is how citizens pay for the government’s money printing.
Rishi Sunak, "The best taxt cut that I can deliver for the British people is to halve inflation."
Laura Kuenssberg, "Inflation is not a tax"
Rishi Sunak, "Inflation is a tax"
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A possible scenario.
Print trillions of dollars
Surprise, inflation
Shut down nuclear energy
Surprise, rolling blackouts
Pay millions to stay home
Surprise, labor shortages
Then, blame corporate greed
Then, price controls
Then, real shortages
Then, seizures
Then, TBD
Holy shit these people don’t understand economics or the negative externalities produced by attempted top down control of whole economies. Beating this ignorant drum is very dangerous.
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This is all much bigger than US politics.
It is a matter of national security for India, Israel, and every other country to maintain a sovereign communications channel for their leaders to reach their people directly.
The world cannot be ruled by American corporations.
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HISTORY IS RUNNING IN REVERSE
The Bitcoin ETF is the spiritual reversal of Executive Order 6102. Back in 1935, they seized the gold. But now, digital gold is back.
Ninety years ago, FDR and his fellow travelers rode the 20th century arc of centralization. The chokepoints of…
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For everyone who thinks the Instagram deal was a no-brainer:
- Instagram raised at $500M the day before Zuck offered $1B
- $1B was 25% of FB’s $4B cash on hand
- It was weeks before the FB IPO
- The board wasn’t consulted
- Instagram had no revenue
This was not an easy call!
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This is what Chinese cities look like.
We can deny that they are ahead.
Or we can build startup cities to get back in the game.
Non-Consensus View:
The visit of China’s premier js a symbolic bending of the knee.
China is capitulating.
@balajis
is not reading this correctly
Why? China is hurting.
- China’s currency is under pressure as capital leaves at the fastest rate in 7 years
- FDI is down…
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500+ OpenAI employees will quit and join Microsoft unless the board resigns and reinstates Sam and Greg.
Wow. Does this mean the whole thing gets reversed, like a fire drill where everyone marches back into the building?
Suppose it’s theoretically possible as only ~72 hours of breakage has happened.
Would need to learn if other board members also agree.
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If you’ve been fortunate enough to do well this year, consider joining me and
@VitalikButerin
by donating at the addresses below.
But if all you have is Twitter, help spread the word. For every RT, I’ll donate another $50 to fight COVID in India, up to $100k.
#cryptovscovid
With the efforts of
@balajis
we are trying to increase the reach of this fund
Eth Address to donate: 0x68A99f89E475a078645f4BAC491360aFe255Dff1
BTC :
bc1q220k2449fau0pxu9hfn28q3w4k99ep9hwsa5fa
DOGE :
D6fWVp613N3dyLM6Zoghj3dZaEjbGZ8gpX
Tron :
TSZMcrQzMLdKrgiMPoe2uQMHLeEpkf2j8E
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THE MEN’S PARTY
Republicans are becoming the men’s party. The party of strong men and the women that love them.
This is both obvious and non-obvious.
Obvious because the Republicans have been attacked for decades as the party of “rich straight white men”, so of course they’re…
For a few years, I've said education polarization is the most powerful force in politics.
I might need to amend that.
Gender polarization in Gen-Z is seismic and global. And these are sensitive years for political ideology, where ppl's views harden.
via
@jburnmurdoch
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India must remain neutral.
The West colonized India, funded Pakistan, tried to stop Goa’s reclamation and Bangladesh’s independence, and sanctioned India for going nuclear to defend itself vs China.
Everyone’s trading partner, but no one’s trained poodle.
Colonialism is over.
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Canada is ordering banks to freeze accounts without court order.
And by granting broad immunity, they're formally deputizing financial institutions as digital police.
All pretense of "democracy" is gone. There's no consent of the governed. It's just wokes vs workers now.
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India is now building highways at the rate of 100 kilometers in 100 hours.
Proud moment for the entire nation!
The Ghaziabad-Aligarh Expressway has made history by achieving a remarkable feat: the laying of Bituminous Concrete over a distance of 100 lane kilometers in an unprecedented time of 100 hours. This accomplishment highlights the dedication and…
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India's infrastructure is improving.
Lights, highways, airports, water, sewage, tech...
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In San Francisco
It takes 20 years to build a public bathroom
They held a ribbon-cutting ceremony
And a press conference
This is not a joke
We are ready to open our long-awaited Powell St. Station restroom! Follow us here to watch the press conference live.
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Decentralization doesn't mean an absence of leaders, but an abundance of them.
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I’m not the first to observe this, but the speed and depth of innovation happening simultaneously in several fields is just not something current societal institutions can handle.
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This is the flow for sending a notification in Slack. Software is hard.
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The Network State is out.
It’s a new book on how to start a new country. And you can read it online at
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When the head of BIS says “central banks will have absolute control” over all uses of money, that’s not democracy.
That’s when Keynesianism finally drops the mask and becomes flat out communism: total centralized control of all resources by unelected bureaucrats.
Listen:
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The true dystopia would be:
- take a photo of a crowd
- face recognize all people
- look up their phones
- freeze their WeChat accounts
It’s like a human EMP.
Knocks the fight out of a crowd.
And is technologically possible now.
BREAKING: Protest signs and protestors' faces are automatically reported to PRC police thanks to an AI system touted by Dahua, a huge Chinese video surveillance manufacturer. Dahua calls this solution a "banner_alarm" via
@ipvideo
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The Euro has collapsed against Bitcoin.
Bitcoin has failed to become a global decentralised digital currency, instead falling victim to fraud and manipulation.
The recent approval of an ETF doesn’t change the fact that Bitcoin is costly, slow and inconvenient, argues
#TheECBBlog
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THE BASICS WORK IN INDIA
Rohit is right about India.
1) First, the basic daily loop of a tech worker is now easy in India. Wake up, hit the gym, open laptop, get coffee, call an Uber, hang out with some friends, etc — that’s all there. Reliable power, internet, air…
Except for pollution, India has leapfrogged the West in almost everything, at least within the upper middle class
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Btw, I rarely post personal news on here, but I moved to Asia awhile back and will be splitting time between India 🇮🇳 and Singapore 🇸🇬.
Why? They are optimistic on technology, they’ve brought hundreds of millions of people online, and they both speak தமிழ் & have great dosas! 🙂
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INDIA STANDS APP
If you are building an Indian version of these apps,
@naval
and I want to see it. We have set up an email address at india.stands.app
@protonmail
.com
Please send us links to your working prototypes to try out (not decks!)
BIG BREAKING: Indian Govt bans 59 Chinese apps, including Tik-Tok. Full list:
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LOSING THE MANDATE OF HEAVEN
Let’s be real: US political leaders since the Gulf War are perhaps the worst leaders in the history of the world.
In 1991, they inherited a hyperpower that wins everywhere without fighting. But by 2021 they produced a declining power that fights…
Part of the tech-bro to conspiracy-bro pipeline is the phenomenon of men who spent their formative years ignoring and disdaining anything but coding, gaming or tech now noticing politics and global affairs for the first time and refusing to believe this is how the world works.
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INVESTING IN INDIA IS IMPROVING INDIA
If you see a startup growing, does that mean it doesn't have any flaws? That it's the best in the world? That you're going to use it for everything right away?
No, of course not. But you might start using it, and putting money into it, and…
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In different ways, India and China are both noting Western hypocrisy to their domestic audiences.
Canada called India a flawed democracy, then used China-style tactics that went beyond anything India had done.
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AI means a brilliant doctor on your phone. Who can diagnose you instantly, for free, privately, using only your locally stored medical records.
Do you think the doctors will be happy about that? Or the lawyers? The artists? The others that AI disrupts?
They’ll fight it. Hard.
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Congress blew him kisses.
Journalists gave him applause.
Regulators promised to take no action.
So it was only Crypto Twitter that uncovered his deception.
Read the actual history of what happened with Sam Bankman-Fried, before it gets memory holed.
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This is what people don’t get.
The unfortunate truth is that China is the
#1
trade partner for most of the world.
So the US is not negotiating from a position of strength.
If forced to choose, countries may decouple all right…but from the US!
The idea of a bi-polar or multi-polar trading system just doesn’t accord with reality.
China *dominates* trade even more than the U.S. did at its post-WW2 peak.
This is an uncomfortable fact with which western geoeconomic strategy must reckon.
We can’t live in a fantasy…
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THE LATIN AMERICAN LEE KUAN YEW
President Bukele's recipe for success is simple: low crime, hard currency, great aesthetics, and top talent. He built his state capacity from scratch, and is now a role model for the ascending world.
This is the American President I respect.🫡
We're offering 5,000 free passports (equivalent to $5 billion in our passport program) to highly skilled scientists, engineers, doctors, artists, and philosophers from abroad.
This represents less than 0.1% of our population, so granting them full citizen status, including…
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It's a recession when your friend loses their job, and it’s a depression when you lose yours.
It’s the flu when no one you know has it, and it’s the plague when someone you know does.
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At least 23.98% of your wealth has been invisibly seized by the government since Jan 2020.
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THE PARTY LINE
Why is Woke AI so obviously laughable, when generations of Hollywood movies did the same thing without occasioning the same derision?
1) The first and most important reason is X. Because Elon has root over the platform formerly known as Twitter, new conversations…
New game: Try to get Google Gemini to make an image of a Caucasian male. I have not been successful so far.
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Did you know that Australia almost paid off its national debt? They got it down to 4.7% of GDP.
That shows it's possible.
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Crypto regulation is not consumer protection. It is bank protection, it is incumbent protection.
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Many countries have already contained COVID-19 in a few weeks.
Not infinite lockdown. Nor reopening too soon. Get new cases to zero and then keep the reproduction number below one.
These green zones will have better economies and healthier populations in the long run.
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FYI
1) Reddit did not shut down r/wallstreetbets
2) The mods shut it down bc they were overwhelmed
3) It’s now back, for now at least:
Source: senior Reddit administration official
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1) Man goes viral
2) Man uses attention to raise ~$1M for charity
3) Journalist finds old posts to attack him for clicks
4) Man apologizes
5) Journalist's old posts now surface
6) Journalist is now getting canceled
Mutually assured cancellation.
The Register is aware of reports of inappropriate social media posts by one of our staffers, and an investigation has begun.
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There is no first world and third world anymore.
There is the ascending world, and then there is the descending world.
And this is the descending world.
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Suppose there were 10 shares and you had 1. Now they print 90 more shares and give you 1.
You have more shares!
1 → 2 📈
But you have less ownership.
1/10 → 2/100 📉
And that’s how inflation works. People are misled into thinking they’re getting richer, while getting poorer.
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