5min chapter

The "What is Money?" Show cover image

How Bitcoin Will End Currency Counterfeiting with Michael Goldstein (WiM252)

The "What is Money?" Show

CHAPTER

Is Propaganda Necessary to Support the Existence of a Fiat Currency?

Mises: The underlying technology is in many ways an improvement in creating a more salable money despite the fact that it's otherwise free market potential is now co-opted and monopolized by the state. Mises: I think propaganda is sort of a necessary um function of that because you need to continually make people want something that they wouldn't naturally want so basically as things are more centralized you start then introducing not just gold coins but bank notes, he says. "As you as you monopolize mince and you kind of decouple uh the the base money so to speak with um the commodity from what people think is money"

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