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Saifedean Ammous: The Fiat Standard & The Reversal of Civilization

The Bitcoin Matrix

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You Can't Have a Bank Built Around Gold Anywhere in the World

Gold was used to pay for goods and services in the atlantic, but it wasn't very useful there. Gold banking is extremely expensive so governments have had to just make gold banking illegal. People with guns can just come in and take your gold sol that really is the advantage that fiat has over gold. It requires physical centralization. And it requires en of a few small gold notes which are susceptible to being taken over by government.

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