SLP469 Is the World Really Dedollarising? with Peter St Onge
Stephan Livera Podcast
00:00
The Frustrational Reserve
Fictional reserve banking is a practice where state entities and state sanctioned or state permissioned banks are permitted to legally counterfeit. It's accomplished through things like legal tender laws, capital gains tax laws that try to stop us from using other things as money. And we could argue that up until Bitcoin, we didn't have a real alternative. Like why is no country using gold today? Why did the market choose fiat?
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