Bitcoin Audible Guy's Take_076 - Fiat Money's Dark Secret
The free market works because economic decisions are made by people who have skin in the game. When you spend $100 you have earned, you understand the cost. It was your sweat the created the gain, and no one can understand that cost better than you when you go to spend it. Genuine value information, and real trade offs inform the price in the market. Money is simply a reflection of the resources it is allocating. It is nothing more than a ledger system for allocating resources across time. But when someone can cheat the ledger. When the money can be counterfeited at will. It pours a torrent of noise into the economic signal. The free market is essentially destroyed. Because the allocation of your decisions, of everyone's value judgements being signaled in the market, is overrun by trillions in counterfeit. With no skin in the game, with no thought, without understanding the value that went into it, or having to pay for the cost of their errors. It is a system of economic fraud and disinformation. But the problem isn't merely an economic one. The fiat system, has another, more sinister consequence. One that is tied to the very nature of the human spirit. It's time for a Guy's Take episode.
Link to other great works and episodes referenced in the show
Guy's Take - Bitcoin Audible - Guy's Take #36 - Walking Tall (Link: https://tinyurl.com/3bevnhpx)
Audible Audiobook - Broken Money by Lyn Alden (Link: https://tinyurl.com/2p874rjm)
Audible Audiobook - Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones by James Clear (Link: https://a.co/d/63IJQNz)
GG NO RE podcast - Fountain (Link: https://tinyurl.com/mrmjjpuj)
Host Links
- Guy on Nostr (Link: https://tinyurl.com/yc376bff)
- Guy on X (Link: https://twitter.com/theguyswann)
- Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
Check out our awesome sponsor!
- Get 9% off the COLDCARD with code BITCOINAUDIBLE (Link: bitcoinaudible.com/coldcard)
“It's really a wonder that I haven't dropped all my ideals, because they seem so absurd and impossible to carry out. Yet I keep them, because in spite of everything, I still believe that people are really good at heart.”
~ Anne Frank
--- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message