Jason E
1 min readMay 7, 2017

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I appreciate your sentiments and understand where they come from particularly with regards to the military-industrial complex.

The reality is it’s not really the fault if fiat money but by bad governance. Bitcoin is a de facto gold standard which limits money supply. Imagine there are a million people out if work but ready and willing to work straight away. Under fiat the government can pay those people to do productive work immediately. Under a gold standard or bitcoin the money needs to be mined sufficient to pay for their labour. Why constrain things available for purchase for an external limitation?

The gold standard simply means the rich end up hoarding all the gold which then needs to be borrowed by government. What happens if a huge meteor if gold lands tomorrow. Does that change the labour and resources available for purchase? No it doesn’t but it could result in lots of inflation if you spent all the gold from that asteroid if it exceeds the real capacity available for purchase.

Worth thinking about it. Let me know if that makes sense the way I explained it.

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