Today, we know about "non-debt" or "commodity money" (gold, crypto) but use "debt money" (fiat). Aside from Gresham's law, this also illustrates that humans prefer beautiful lies to sad truths.
There's also a related quote that I like a lot. It's from the "The Big Short" movie - a movie which also illustrates our collective addiction to beautiful lies and our antipathy towards sad truths. It goes like this:
"Truth is like poetry. And everybody f---ing hates poetry."
Working towards it with double-debt money, to make non debt money out of it.
But the question is which one is better- Debt money or Non-debt money? In time, crypto has become dollar bag, GOLD if physical no problem, if digital then there is a problem.
It's not "either / or". You should have an appropriate amount of both. Not only debt money and not only "non-debt" money. Everything in moderation.
🙏🙏🙏🙏
People love lies because it is sweet and the truth is bitter
That’s actually sad
Surest way to make enemies: tell the truth
The question is: does it help if you have some non-debt money and a gambler's mentality/addiction?
Humans are configured to love lies then truth because lies always look pleasant to hearing