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RE: How fiat money is creating cycles. People are overspending like hell and then go bust.

I am blessed to be debt free and also unconcerned with status tokens ... but I was reading today and realized the boom and bust foolishness we are dealing with is indeed as old as at least 1637. I do not think using Bitcoin and gold would help, as long as people are programmed to believe their status depends on who they can impress with what they possess. It would be much harder, but many would still find a way because the belief system would drive them.