Hi Donovan,

Thank you for the various Wikipedia links. Inflation is at best a contentious issue and there is no silver bullet when it comes to fiscal policy. I do however suggest that when it comes to a store of value, the inflationary nature of fiat currencies means an inevitable erosion of value in the very long term. In the medium to short term, measured in decades, the inflationary-preference for most central banks is obvious and because election cycles are measured in less than decade terms, the political impetus to continue this trajectory is also obvious.

When we view asset classes such as Bitcoin, as well as its deflationary tendency, we are thinking in terms of longer time horizons.