The Fiat Standard Explained

Описание: Video summary of "The Fiat Standard" by Saifedean Ammous. The book critiques the modern global monetary system, arguing that the shift from a gold standard to fiat money beginning around World War I and solidifying in 1971 led to profound economic and societal decay. The author asserts that fiat operates as a debt-based, centralized ledger where lending functions as an unpredictable form of "mining" new money, incentivizing debt accumulation and devaluing savings. The text connects this monetary system to high time preference, resulting in declines in architecture, family structure, and the quality of food and science, which are heavily influenced by government funding and special interests. Finally, the author contrasts the fiat system's reliance on centralized power and violence with Bitcoin's potential as a scarce, decentralized, and apolitical hard money offering superior saleability across time and space.

📚 BOOK of the video: "The Fiat Standard"
👉 Amazon: https://amzn.to/49aVJUQ

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