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Even if all fiat currencies went away and the entire world was on a Bitcoin standard, countries would still have standing armies, just as big as they have today
by rspeele 4y ago
Even if all fiat currencies went away and the entire world was on a Bitcoin standard, countries would still have standing armies, just as big as they have today, to protect their hard assets. The stuff you buy with money, like oil, gas, farmland, factories, and so on.
In the absence of an army, you can have all the Bitcoin you want, and still be dirt poor because somebody else with an army can just waltz in and take your stuff.
So I find it laughable to claim that the cost of standing armies should be tallied up as an operating expense specific to fiat currencies.
- neodypsis 4y agoAlso, consider the energy required to mine precious metals or to produce those hard assets you mention.