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WiM047 - The Saylor Series | Episode 11 | The Failures of Fiat
The "What is Money?" Show
The Base Layer of Fiat Currency Is Defective
In money, the most important property right we have outside of our own control of ourselves is money. We put it inside of an institution where we do not have complete control over it. The base layer of fiat currency is active wight and subject to political whim. Without engineering standards, you can't have a deferred settlement or final settlement. So without an ability to settle with finality, right to get out of dollars into something that can't be stolen from you? That's how we scaleas civilization.
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