The Costs of Fiat

In this Twitter Spaces discussion, Saifedean introduces his new book The Fiat Standard. Working through the chapters of the book, he discusses how the fiat monetary system works, why the Federal Reserve constitutes its “single node”, and how fiat is “mined” into existence through bank lending. He also talks about how the fiat monetary system impacts society in areas ranging from diet to energy to education. Saifedean then takes questions from Twitter users on The Sovereign Individual thesis, CBDCs and whether bitcoin miners are the “central banks” of bitcoin.

Resources

• Bitcoin Maximalist Giacomo Zucco makes the case for altcoins
• Robert Kiyosaki’s book Rich Dad, Poor Dad.
• The Big Fat Surprise by Nina Teicholz, for a discussion of the flawed dietary studies of Ancel Keys
• The Moral Case for Fossil Fuels by Alex Epstein
• The Sovereign Individual by James Dale Davidson and William Rees-Mogg
• Saifedean’s first book, The Bitcoin Standard
• Saifedean’s second book, The Fiat Standard

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