“The Bitcoin Standard” Exposes The Hidden Costs Of Fiat
by Tyler Durden Monday, Apr 11, 2022 – 03:03 PM
Authored by Archie Chaudhury via BitcoinMagazine.com,
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Dr.u Saifedean Ammos, author of “The Bitcoin Standard,” explained how fiat has hidden costs and why Bitcoin represents the next generation of money…
Detractors of Bitcoin often point to its costs – namely in the form of electricity used in proof-of-work mining and its perceived impact on the environment – as reasons for why it will never be a sustainable alternative to traditional fiat currency. These detractors often believe that Bitcoin is fundamentally unscalable, or more likely, come from the power structures that fiat currency has enabled, such as government or centralized financial institutions.
In his presentation on the main stage of Bitcoin 2022, Dr. Saifedean Ammous delivered a presentation meant to underscore the invisible costs of fiat money, and how it has been used for centuries to economically oppress the average citizen of a fiat-based economy. Dr. Ammous has long been a supporter of Bitcoin, and has written “The Bitcoin Standard” and “The Fiat Standard,” both of which have helped educate numerous individuals about the advantages of Bitcoin and the corruption that is ingrained in most fiat states.
Dr. Ammous started his speech by focusing on inflation and how using fiat money helps back a system that is inherently unequal. Dr. Ammous specifically cited how fiat inflation is used primarily for the needs of the government, saying that “The cost of fiat is currently 3.5% of all global wealth, and is used to finance government parasites, wars, and monopoly banksters.”
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Inflation is the silent tax that has robbed “We, The Sheeple” of 99% of the purchasing power of their “dollars”.
The politicians and bureaucrats love it because unless you look for penny candy, or a nickel cigar you won’t see it.
That what this thrives count on.