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SLP296 Saifedean Ammous - The Biggest Fiat Malinvestment

Stephan Livera Podcast

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How Has the Fiot Standard Evolved?

In the past, i've always thought it was just a terrible idea to use hard money. I still think it's a terrible idea, but i can sort of see why it has come around. The best case that i would make for fiat is that,. er, if you remember, in the bit coin standard, my focus was on salability across time, that gold was money. And so as governments started using their own credit to settle their own bills with one another, it became easier for them to use fake credit rather than used er gold. If they could offer an ideal free market banking and debit card system, then there would be no reason not to do this.

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