Money is scarce. There is never enough of it for everything people need. And there’s a good reason for money to be scarce—we don’t want its value compromised by too much inflation.
But what if inflation is only the result of too much of a particular kind of money—this bank-debt money we accept without question? At least twice in history, a form of money has existed where there was no incentive to accumulate it as a store of value because it didn’t earn positive interest in bank accounts. Read more.
