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Let’s go the other way and ban fiat. Money printing is a much greater threat to world security. Print way too much money, run out of resources and room to pum
by JohnJamesRambo 6y ago
Let’s go the other way and ban fiat. Money printing is a much greater threat to world security.
Print way too much money, run out of resources and room to pump, crash to rock bottom, start a war, then start over again is the historic cycle we are stuck on until we fix this.
https://en.wikipedia.org/wiki/Debasement https://en.wikipedia.org/wiki/Debasement
https://fred.stlouisfed.org/series/M1SL https://fred.stlouisfed.org/series/M1SL
- tome 6y agoI don't see anything in the reference that you provide that elaborates on "start a war". Perhaps you could provide the elaboration?
- oleganza 6y agoWars are inherently destructive and can only be funded for prolonged periods of time with mountains of debt. Especially if you can extract taxes backing this debt relatively painlessly. Extracting Bitcoin from individual wallets is no small feat, and Bitcoin-backed (fractionally, of course) notes would not have the same advantage as paper bills over gold coins. Bitcoin is divisible, storable and transferrable well enough to be used as-is.
- tome 6y agoNone of this explains why fiat currency leads to starting a war.
- gher-shyu3i 6y agoFiat currency allows the government to make its citizens pay for its usurious debts, by printing more money. This is not possible with gold or bitcoin.
- argvargc 6y agoCryptocurrency presently is also the only usable alternative to fiat. And it is World Backup Day.