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Saifedean Ammous: The Fiat Standard & The Reversal of Civilization

The Bitcoin Matrix

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The Limitation of Gold

The cost of transportation is not just important for its own ake. It's that the incredibly expensive cost of transportation makes the alternatives to central banks not viable. And so governments in the fiat era, they did not need to go door to door putting guns to people's heads in order to confiscate their gold. In most modern western democracies, this was kindo done effortlessly and bloodlessly because the money had nowhere to go.

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