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#284 – Saifedean Ammous: Bitcoin, Anarchy, and Austrian Economics

Lex Fridman Podcast

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Fiat Currency and War's Financial Legacy

This chapter explores the historical origins of fiat money during World War I and its implications for government financing of war. It examines the shift from the gold standard to fiat currency, highlighting how this change facilitated prolonged conflicts and economic consequences. The discussion also critiques the moral dilemmas of warfare financing and the long-term effects of inflation and currency overproduction on global power dynamics.

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