WHY ARE WE BULLISH? Dinosaurs Want To Take Your Sats! ep168
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Fiat Money and the Emperor's New Clothes by Orwell
The Emperor's New Clothes is about a big fat old emperor in a kingdom in Europe that has employed the most expensive tailor to sow him a new dress for his march down the square. He ends up walking the streets naked believing that he has clothes on. And this is what fiat money is. It requires us all to believe that it has value. But look at what happened in India when overnight or over a weekend they banned the use of the two highest denominations of physical cash, 500 and 1,000 rupee bills. The actual bills still had value that just had a little less value. That's the thing with money. As long as people believe that they had some value, they
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