The Tom Woods Show Ep. 2661 Immoral and Moral Money: Fiat and Bitcoin
44 snips
Jun 28, 2025 
Eric Sammons, editor of Crisis Magazine and author of Moral Money: The Case for Bitcoin, dives into the moral implications of our monetary systems. He discusses the ethical dimensions of fiat currencies compared to Bitcoin, emphasizing the flaws in traditional finance and healthcare. Sammons explores how Bitcoin's decentralized nature may address these moral dilemmas. He also offers practical advice for newcomers interested in investing in Bitcoin, underscoring the importance of understanding money not just economically, but morally.
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Morality and Fiat Money
- Our current monetary system is morally wrong because it allows unchecked inflation and printing money for unpopular wars.
- Fiat money's inflation undermines fair wages and enables government abuses that restrict freedom and morality.
Moral Properties of Money
- Moral properties of money include scarcity, verifiability, and independence to prevent abuse.
- Independence is crucial as it stops individuals from arbitrarily increasing money supply, ensuring ethical use.
The Devolution of Money
- Money evolved from bartered items to gold, then to paper and fiat, each step introducing more trust issues.
- Gold's limitations in portability led to paper money and ultimately to fiat money without physical backing.
