AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
6min chapter
Is Sound Money the Answer? with George Gammon (WiM268)
The "What is Money?" Show
Is Fiat Currency a Distortion of the Voting Mechanism?
The existence of fiat currency is actually a distortion of the voting mechanism right which we traditionally depend upon in a democracy to express our political preferences. The central bank or the commercial banking system that surrounds the central bank as part of this as well get a disproportionate amount of influence because they're effectively creating these new votes called you know currency units out of nothing. They're able to disproportionately sway the vote of the market process let's say so how do you how would you wrestle with that? I feel like in a society running on Fiat currency it almost doesn't matter what the democratic collective wishes are because they can't be adequately expressed when through a democratic mechanism.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode