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.
Mainstream economic teaching still pushes the basic belief that inflation occurs when the aggregate quantity of goods demanded at any particular price level rises more quickly than the aggregate quantity of goods supplied at that price level.
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.
Beyond bitcoin's status as a speculative investment, there exists a compelling argument for actively wielding it, unlocking and embracing the power it bestows upon individuals and communities alike.
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.
What did you learn about money in school? Could you explain money in one sentence? Go on, think about it for a while. If you can't, read on.