Radically True Money | Principles of Bitcoin Series | Episode 3 (WiM256)
The "What is Money?" Show
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The Skin in the Game of Money
When central banks issue dollars that are unbacked by gold, you're effectively severing the skin in the game of money. This gives central banks a mechanism for perpetually privatizing profits from money production. They keep all the profits and then if there are losses, they can externalize those onto the population via inflation. So it's a heads I win tells you lose situation.
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Transcript
