105. Fiat Money and Debt Slavery with Tom Woods
The Bitcoin Standard Podcast
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In the Fiat System, Everybody's a Dead Slave
Inflation is eating up the value of your money every year, so you need to constantly be in debt. The smart thing to do if you're rich is to use your money as collateral for borrowing more and more. And then you're taking risks with that collateral. Because of this way of mining fiat, we end up incentivizing society to become universal debt slavery. It's a great way of generating people who are entirely dependent on government because it's putting everybody in a precarious position. But under fiot, you get into debt, you lose everything. You cold lose everything if you can't make your payments, and then it becomes much harder to get back on your feet. That works
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