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Alex Gladstein: How Poor Countries Prop Up Rich Countries

Coin Stories

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Is Bitcoin a Lifeboat for the Third World?

I think it'd be totally fair to tell some of these countries who have debt that was incurred by dictators that they didn't even elect that we should cancel that debt. The reason that debt does not get canceled is usually the reason there's not like a debt Jubilee discussed for the third world. It's because that debt exists as an asset on a Western bank's balance sheet. So you know, that's only made possible via the fiat standard. Like if we're on some sort of Bitcoin standard, then there is no option to just keep printing money to keep bailing out those countries. There has to be some sort of reckoning and not going to be pretty.

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