@Spacebull - The Basis Of A Healthy Civilisation is A Savings Account. #bitcoin Fixes This. - #318
Once Bitten! A Bitcoin Podcast.
00:00
You're Not Buying a Vehicle, but You Are Buying Debt
The Fed takes all the government bonds, which the public does not buy and writes a check to Congress in exchange for them. The result of this process is the same as creating money on a printing press, but the illusion is based on an accounting trick rather than a printing trick. Everything you touch, that's why it's hollow and broken because the value has been stripped out of it. This is great. I'd really recommend anyone listening to this read the Fiat standard. It's got some excellent content on this whole sort of thing.
Play episode from 01:15:03
Transcript
