Fiat Money is Evil. Bitcoin Tech Talk #284

(this article was originally posted on christianpost.com)

Fiat money is a cesspool of theft, cronyism and corruption. It’s the escalator of wars, the source of wealth inequality and the reason why seemingly everything today is politicized. Fiat money is an institution of evil on par with Joffrey from Game of Thrones.

I didn’t always think this way. It wasn’t until 2008 that I started learning how fiat money, or our current system of central banking worked. I remember sitting there shocked as my stock portfolio nose dived along with the rest of the market. What was going on? The news spoke of the subprime mortgage crisis and financial derivatives called credit default swaps. But the real shocker was still to come. Henry Paulson from the treasury asked Congress for $800B to bail out the banks.

This number seems quaint now, but back in 2008, this was a crazy number. Remember the scene from Austin Powers when Dr. Evil demands $1M and they all laugh at him? Then he says $100B and they stop laughing? That’s what hearing $800B in 2008 was like. It seemed like an impossible number.