“Zero Money”: First Principles Thinking About Monetary Value

Change the Money, Change the World (22)

Part 5(F) — Pan-national activism 2

“… whereas in Bitcoin there exist no monetary authorities that could expand the money supply in times of deflation, in the Eurozone the existing monetary authorities are constrained by the ECB’s charter in a manner that stops them from expanding the money supply in deflationary times. … What use are monetary authorities in a currency union if they cannot expand money supply in response to falling prices? In this regard, the Eurozone is no different to Bitcoin