Bitcoin vs Gold DEBATE 2024: Peter Schiff vs Robert Breedlove (WiM532)
The "What is Money?" Show
Fiat vs. Commodity Money: A Deep Dive
This chapter explores the fundamental differences between fiat currency and commodity money, focusing on the historical transition from gold-backed currency to fiat systems. The discussion highlights the inherent risks of fiat money, including inflation and loss of value, emphasizing the importance of trust in government policies. Additionally, it examines the properties of money, the mechanics of fractional reserve banking, and contrasts gold with modern alternatives like Bitcoin in the context of a digital economy.
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