5min chapter

Coin Stories with Natalie Brunell cover image

Saifedean: Why Capitalism is Good and We Don't Need Expanding Money Supply, a Preview of his New Book: Principles of Economics

Coin Stories with Natalie Brunell

CHAPTER

The Importance of Central Banks in the Modern World

The Fiat standard, in order for us to try and make it keep up, we had to centralize it. So then that just put centralized power in the hands of central banks. In the 19th century was an enormous jackpot out there for people,. essentially the worst people of every society in the world to catch just to take over. And so I think this just, it really is that we didn't have it. We didn't have form of money that we could have resist this kind of takeover. But again, I continue to be optimistic about it.

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