The Most Important Question in the World Today | Episode 3 | (WiM327)
The "What is Money?" Show
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The Birth of Fiat Currency
Custody of gold was gradually centralized into fewer and fewer warehousing operations. Gold is doing a great job at moving value over time, but not space. Paper currency gave us the ability to move value across space. But it introduced this attack vector for warehouse operators,. which became central banks to modify the supply to suit their own political agendas.
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