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#284 – Saifedean Ammous: Bitcoin, Anarchy, and Austrian Economics
Lex Fridman Podcast
The Smart Winning Move Under the Fiat System
The agreement between the bank and an individual borrower is actually an agreement between the bank and the entire populace using the currency./nThe safety net provided by the bank is the devaluation of the currency./nThe takeaway message of the Bitcoin standard is to stack as much Bitcoin as possible because it is the best money ever invented./nThe conclusion of the fiat system is to be short fiat as much as possible./nHuman wisdom over thousands of years is to save and accumulate savings, and not to borrow as much as possible.
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