In a monetary system where money is no longer backed by a tangible asset (as was the case with the gold standard) but controlled by the authorities through legal tender laws and a monopoly on money creation, this is, according to the author, a form of counterfeiting on a massive scale.
With the word ‘inflation’ consistently in the news and part of our daily conversation, let’s explore the policy of Fiat currencies and a well-documented historical account of good old-fashioned currency debasement.
Understand the destructive power of inflation. Discover the consequences of central planning, theft, declining wages, and rising inequality. Break free from a broken system with the orange pill.
Bitcoin is the latest upgrade to hard money — a new, massless element that, unlike gold, is absolutely scarce. Gold is only relatively scarce, and like other elements, it’s infinitely available. Bitcoin is a mathematical element that has emerged as money from the free market due to its unbreakable and undeniable properties.