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Radically True Money | Principles of Bitcoin Series | Episode 3 (WiM256)
The "What is Money?" Show
Is There a Disincentive to Fiat Currency Production Within the System?
Central bankers are incentivized to print that money into worthlessness. They can acquire any scarce asset with these self annihilating currencies on their gradual and sudden way to zero. And inflation distorts the price signals propagated by fiat currency, causing entrepreneurs to over-price risk or misallocate capital. This is a violation of private property rights as it reallocates wealth away from its original ownersinto the hands of those closest to the monetary system.
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