The Keynesian propaganda of economics has quite successfully demonized saving, because it is an "unproductive use of capital".
The logic comes from the following sequence: people cut spending during recession, which leads to lower demand. Smaller demand leads to decreasing prices, which leads to less revenue for businesses, which leads to cuts in production and layoffs.
However, this whole sequence is a symptom of an unhealthy economy caused by inflationary debt expansion which enables malinvestments and destruction of capital, and something like the corona stimulus just kicks the can further down the road.
To hide the root cause – which also happens to be the vehicle governments use to finance their operations – they address the savings part of the equation, when people cut spending, as if they are to blame.
First they inflate your purchase power away, then they blame you for not spending it in a recession. It's like robbing someone, and then criticizing for not donating more to you.
Investing on a hard money standard
Despite the demonization of saving, it is actually the first necessary step for an economy to develop from a barter system to an advanced civilization: instead of eating the seed, you sow it, and reap more seeds than you initially got.
If you give people the ability to preserve economic energy, they won't magically turn into Uncle Scrooges. They will take risks and invest even in a hard money world when they think there's a very good chance it'll give a return higher than the appreciation of money. In fact, they might be more eager to do so when it's easier to accumulate excess capital.
Hard money allows people to be pickier with their investments because they are not forced to preserve their wealth by gambling in the financial markets. This translates to a higher quality investment into actually productive businesses that create more capital. When investment is forced via bleeding money, the capital flows into unproductive business in an environment where it can nominally increase in value, yet not beat inflation.
TLDR;
One of the modern economic myths thrown around: people wouldn't invest in a hard monetary standard. This conception stems from equating debt money deflationary cycle to hard money deflation which are two completely different phenomena.
Saving has long been a tested means of escaping poverty even in underdeveloped communities. I wonder what could be more productive than storing up value
With bleeding fiat currencies though, saving is an uphill battle. Luckily now there's an option to escape it with bitcoin.
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