
Bitcoin Fixes This #72: The Fiat Standard with Saifedean Ammous
Bitcoin Fixes This
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The Difference Between Money and Debt
The dollar bill anywhere in the world and you give it to anybody, and they'll give you stuff in exchange for it. You have a piece of paper that says, safe is going to pay me 110 dollars next year. Good luck trying to quit stuff with that, right? That's the key difference. And yet, what the fiat system effectively does is that it treats government promises for payment as money. It treats or government, it treats promises by any entity that is backed by the government, as if it is as good as money. So once you've suspended gold redeem ability, once you can no longer redeem gold for redeem your papers for money,. we've taken away the hardness of
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