Government Money Standard (Fiat) - The Best Alternative to Slavery for Human Civilization

In his book, The Fiat Standard, world-renowned economist Saifeddine Ammous applies his unique analytical lens to the fiat monetary system, demonstrating that it is an engineering and technological achievement, just as he did with Bitcoin in his best-selling book, The Bitcoin Standard. This time, however, Ammous delves into the world's earlier transition from the gold standard to today's government-backed fiat money system, identifying the purposes and failures of the fiat standard; extracting the broader economic, political, and social implications of its use; and examining how Bitcoin has impacted them over time. With his penetrating insight, Ammous analyzes global political currencies by analogy with Bitcoin: how they are mined; when government-guaranteed entities create loans; their lack of inherent constraints on inflation; and the rampant government intervention that has led to serious, destructive, and persistent distortions in global markets for food, fuel, science, and education. Through these comparisons, Amous demonstrates that Bitcoin could be our next step forward—one that offers high cross-sellability, just like the fiat system, but without the uncontrolled securitized debt. Instead of a chaotic hyperinflationary collapse, Bitcoin's rise could look like a debt jubilee and an orderly upgrade to the world's monetary operating system, revolutionizing global capital and energy markets. Saifedean Amous, a world-renowned economist, is the author of The Bitcoin Standard: The Decentralized Alternative to Central Banking, the best-selling book on Bitcoin, translated into 25 languages. He is also the author of the forthcoming textbook Principles of Economics. He teaches courses on Bitcoin economics and Austrian-style economics on his online education platform Saifedean.com and hosts his webinars on The Bitcoin Standard Podcast.