Let's think about it. Money is most critically a signal of the value of something - the price conveys information in real time how hard it is to obtain something.
When we allow unaccountable bureaucrats to print money and cantillionaires to benefit from it, we massively distort the price signal of money.
In the same way a stock certificate is title to company capital, money is title to human time. People sacrifice their time for money, which enables them to trade for commensurate sacrifices from others. When prices are distorted, we are each inhumanely robbed of making fully informed personal choices with our time.
**First**, as discussed, this impairs the fidelity of economy-wide price signals, thereby,
**Second**, inefficiently draws human and capital resources into activities that cannot be lastingly maintained, thereby,
**Third**, drives temporary illusions of relative prosperity in certain economic segments, and despair in others, and therefore,
**Fourth**, leads inevitably, and repeatedly, to booms and busts.
Modern central banking is the cause of severe economic problems. NOT the cure!
-- an excerpt from the Stone Ridge 2020 Shareholder Letter, its 2-minute version can be found here https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter