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#284 – Saifedean Ammous: Bitcoin, Anarchy, and Austrian Economics
Lex Fridman Podcast
Is the Bank of England a Scam?
The Bank of England kept the British pound at a fixed rate next to gold for since new. Isaac Newton himself made the pound specific amount of gold. So he'd set that price and it was a matter of national pride for people in England. But they went off that and then couldn't go back because they wanted to go back. They shipped their gold to the US to finance the war, so this began the end of England as the world's superpower. The way they tried to fight that was to get more and more countries around the world to establish central banks and have un-hold British pounds.
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