The fiat standard fuels government overreach from "summary" of The Fiat Standard by Saifedean Ammous
The fiat standard is a system in which the value of money is not tied to any physical commodity, but is decreed by governments. This gives governments the power to create money out of thin air, which they can then use to fund their activities. The ability to print money at will is a seductive power for any government, as it allows them to spend without limit. The problem with this is that when governments have the ability to create money at will, they have a strong incentive to overspend. This can lead to inflation, as the increased supply of money reduces its value. Inflation is e...
Similar Posts
Investment in physical and human capital promotes growth
Investment in physical and human capital is essential for promoting economic growth. Physical capital refers to the tools, mach...
Investing in yourself is the best investment you can make
Investing in yourself is the best investment you can make. This simple yet powerful concept is often overlooked by many people....
Importance of infrastructure in economic growth
Infrastructure plays a crucial role in the economic growth of a country. It is the basic physical and organizational structures...
Investing in yourself can have the highest return on investment
Investing in yourself can have the highest return on investment. The most important investment is in yourself, as it can lead t...
Technological advancements impact business productivity
Technological advancements play a crucial role in shaping the productivity of businesses in today's fast-paced economy. As new ...
Central banks have the power to manipulate the value of fiat money through inflation
Central banks have the ability to increase the money supply by creating more money. This increases the amount of money in circu...
Interest rates impact investment
The level of interest rates plays a crucial role in determining the level of investment in an economy. When interest rates are ...
Understanding economics is essential for making informed decisions in a complex world
Economics is not just about money. It is about understanding how people make choices in a world where resources are limited. Wh...
Free speech is vital
The protection of free speech is vital to the functioning of a free society. It is through the free exchange of ideas and opini...
It cannot be manipulated by central banks
The fact that it cannot be manipulated by central banks is what makes Bitcoin so unique and valuable. Unlike fiat currencies, w...