Then how would you explain the USD being the global currency reserve for the past 50+ years?
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Replying to @Pete_Humiston @spencernoon
SpookyAndCryptic Retweeted SpookyAndCryptic
On a long enough timescale, shitty things turn to shit. Widen your time horizons.https://twitter.com/StopAndDecrypt/status/1033821881915396099 …
SpookyAndCryptic added,
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Replying to @StopAndDecrypt @spencernoon
What is my proxy then? Gold was a great world reserve until you started having mass global trade. Idk how he USD could have remained gold backed and the economy continuing to run a trade deficit.
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Replying to @Pete_Humiston @spencernoon
Right, and once we started getting mass global trade, and less ideal system became the most widely used, and in turn, the most widely abused. It's work*ing* as it stands, but we're building a better system for the future, because this won't work forever.
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Replying to @StopAndDecrypt @spencernoon
That would logically make sense...most widely used = most widely abused..the same was true for gold way back when. London Gold Pool & Gnomes of Zurich, other than government, being case & point. I don’t think fiat has been around long enough to conclude it’s a “less ideal system”
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Saying you like fiat is the same as saying you like coercive monopolies, lack of competition, continuous theft and, tangentially, overindebtedness.
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Good thing I didn’t say such. The argument could be made that fiat has allowed for greater competition and economic growth... International trade and fractional reserve banking is not possible with gold backed currency. Manipulation happens across all assets; London gold pool.
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1. The modern age, until recently, tolerated some forms of competition thought not free monetary competition. 2. FRB existed on top of the gold standard, just not as aggresively. 3. Bitcoin transcends almost every single one of Gold’s limitations.
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Replying to @MustStopMurad @Pete_Humiston and
4. International trade existed for millenia before fiat came into existence.
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Correct. But all of those things you’ve stated (except for #3) accelerated dramatically into the 20th century and the argument could be made fiat was the only scalable solution. These are just arguments, not my opinion per se.
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These things accelerated *in spite* of fiat, not *because of* it. 
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These things accelerated because of modern technological advances.
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