Bitcoin vs. The Federal Reserve with Chris Sullivan from Jekyll Island (WiM537)
The "What is Money?" Show
Sound Money vs. Fiat Money
- Historically, sound money (like gold) has been the norm for most of human history.
- The last 100+ years, with fiat currencies, are an anomaly.
- Sound money represents a vote of no confidence in a government's monetary policies.
- It allows people to opt out of inflationary systems.
- JFK's attempt to issue silver certificates challenged the Federal Reserve's power, suggesting a move towards sound money.
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