“To put it into perspective, this international monetary system based around centrally-managed fiat currency is only 16 years older than me. My father was 36 when the US went off the gold standard. When I grew up, after a period of financial hardship, I began collecting gold and silver coins as a kid; my father gave me silver coins as savings each year.
The Swiss dropped their gold standard when I was twelve years old, which was six years after Amazon was founded, and three years before Tesla was founded. The fiat/petrodollar standard is only four times older than bitcoin, and only two times older than the first internet browser. That’s pretty recent when you think about it like that.” – Lyn Alden
Today we hit part 2 of the excellent write up by Lyn Alden breaking down the fundamental nature of money, and how we have found ourselves in this contradictory fiat currency world. This section is amazing and we will be having a follow up to tear into the pages of notes I took while going through this one. Subscribe so you don’t miss it!
Link to Lyn Alden’s piece and the incredible other work she has on her blog:
Other great works to explore:
Nick Szabo – Shelling Out: https://bitcoinaudible.com/reboot-shelling-out-the-origins-of-money-nick-szabo/
Wittgenstein’s Money: https://open.spotify.com/episode/1eVvYlfTRG7zGjkZW8klIE?si=02d4eaa72fe642c4
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