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30 sats \ 2 replies \ @Solomonsatoshi 7 Jul \ on: Moral Money: The Case for Bitcoin | Book Review BooksAndArticles
'he says that a money is immoral if a small group of people can control it for their own benefit at the expense of others. Who would disagree with that?'
It can be argued that fiat money by effectively giving the government and bankers the ability to debase the savings of all citizens also gives the government the power and leverage to defend the nation against adversaries.
It can also be argued that by giving banks the power to issue fiat funding to productive investment proposals the entire wider economy can benefit from this investment as it spurs jobs and wealth creation by creating an effectively limitless source of capital funding for potentially productive investment proposals.
What Bitcoiners often fail to recognise is the significant role the nation state and its government play in the wealth and security of a nation and its people.
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0 sats \ 1 reply \ @SimpleStacker OP 22h
Fair enough. Maybe you should write a book about the moral case for fiat money
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0 sats \ 0 replies \ @Solomonsatoshi 19h
I do agree there is a strong case for Bitcoin being superior in terms of the way the individual is treated and there is definitely a case where the modern nation state (and probably less modern nations states as well) have abused fiat monetary powers. My own position is simple and does not require a book to explain... since neoliberalism of the 1980s deregulated banking allowing bankers to issue new money toward finance of any purpose whether productive or not, our fiat monetary system has become dysfunctional and has directed huge sums of capital/debt fiat monetary issuance toward non productive speculative asset price pumping which dose not compensate most participants in the host economy with any increase in overall wealth production and prosperity. It is in protest of this misuse of fiat money that I hold Bitcoin and partially escape the rentseeking neoliberal banksters fiat debt slavery while being part of building an alternative. Fuck the banksters and their politician puppets.
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