WiM047 - The Saylor Series | Episode 11 | The Failures of Fiat
The "What is Money?" Show
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The Third Failure of a Fiat Standard
The collapse of counterpart wel we goe from heavy weight, indestructible money to light weight cotton candy. It's a brick that is too heavy to pick up off the floor, and it blows away with the wind. We wanted to actually be able to move it distances, but you can't authenticate it over a distance in its bearer ment form because you can't pay for something with cash. The way to authenticate it is through a counterparty. So i have to put my money in a bank, the bank has to issue a credit card, then i have to n put the credit card into the web site,. Then maybe the credit card gets approved, then i do
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