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204 - What is Bitcoin? with Robert Breedlove
Bankless
Government Monopoly on Money Printing
The dollar used to be redeemable for gold but moved away from being a gold-backed currency over time. In 1971, the United States took the world off the gold standard, indirectly putting the entire world onto a fiat currency standard. This allowed the government to print money without any check, leading to limitless government overgrowth, expansion of deficits, and deficit spending. The government's ability to print money results in externalizing the cost of losses onto people via inflation and perpetuates the growth of an organization that produces losses.
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