27. The Underlying Technology Behind Fiat Standard
The Bitcoin Standard Podcast
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The Keynesian Idea of the Free Lunch Can Save You 50% of the Cost of Piping
The Keynesian idea of the free lunch is exactly like saying, well, if we just mix the sewage and the water, then we can save on piping. If you believe that that is the case, there's no harm from having the central bank lend to the government using the money of the entire population as collateral for the loan. In the Keynesian mind, the government can always tax and so it can always pay off the loan. But all over the world currencies are being devalued. The US has done some of the best job in this regard.
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