2/ Do u believe the betterment of poverty, diseases, and SoL was a result of switching from fixed-supply currency to low-inflation? (I do) Or that 'technology got better' and that's what allowed us to do better at all 3 of those things, even as we switched money in parallel?
I see it differently. I think the state used its power to remove thr gold backing, but because the paper dollars were already in use and had inertia + the fact that they ‘supported’ fiat with debt extinguishing laws + tax laws, made people just accept it.
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Yup I buy that as a possibility.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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It was a deliberate, forced switcheroo, made possible by centralization of Gold, monopoly on money production, state decrees, legal tenders, monopoly on violence. NOT free-will, voluntary, organic, emergent market choice. Fiat is top-down. Gold and Bitcoin are bottom-up.
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I buy this, too.
End of conversation
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