Bitcoin and the Sanctity of 21M | The Twilight of Gold Series | Episode 2 (WiM130)
The "What is Money?" Show
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Convertibility
The gold standard had, like, some of the weaknesses where that it, it was a commitment mechanism. But in having escape clauses such as war, it actually incentivizes war exact because it's one precondition that allows you to suspend the rules. Germany launched into world war one and they didn't think it would be politically popular to tax everyone to pay for the attack on france. And so they thought, we're going to win the war. We have it all planned out. I mean, it's like we talk about this obligation to consider leverage. They sort of ran the numbers there were super mart and they're like, "We're going to winning this"
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