Fiat money has a collection of malincentives and consequences for the degrading and rotting of society. As we covered in the first part of this series, it leads to mindless consumerism and a more materialist culture. As we continue, I want to cover something else that it does by stealing the value of our savings which is our bet on the future health and capacity of society to provide for us. What happens when we are forced to bet against the future. As well as artificially lowering the price to replace things in the economy, until an enormous amount of the economic engine is built around quick financing, low quality products, and then throwing it away to finance the next thing. It's time for a Guy's Take episode, This is The Fiat Replacement Theory.
Link to check out
Host Links
Check out our awesome sponsors!
"Everywhere I travel, tiny life, single serving sugar, single serving cream, single pad of butter, the microwave, cordon bleu, hobby kit, shampoo conditioner combos, sample packaged mouthwash, tiny bars of soap.
The people I meet on each flight, they're single serving friends.
Between take off and landing we have our time together, that's all we get.
Welcome!"
~ Tyler Durden
--- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
“by having the double accounting system rely on and be backed up by the triple accounting system you get the throughput of the double...
Bitcoin is a public good. The maintenance and stewardship of the network rests on the conviction and work of 10s or 100s of thousands...
“General Motors, Ford, AT&T and GE have cumulative debt that is larger than the entire HY market. Downgrades of any one of these names...