42. The Fiat Standard, Chapters 4-7
The Bitcoin Standard Podcast
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The Importance of Lending to Governments
The World Bank and the IMF have an enormous incentive to lend because they are bureaucracies that have the money. Their business is finding problems and giving loans to them. They can put it on the country credit card for 30 years. And they get all of the fun years of the first few years when they're spending the money and the country has to pay for it for 30 years later.
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