Interview: Karpiš on Why Fiat Money Is Doomed

14.10.2016 • Tech

From Chris Lowe – Bonner and Partners Inner Circle (United States) –

Without doubt, the most popular theme we’ve been tracking for you at Inner Circle is the rise of alternatives to what Bill Bonner calls our “fake money” system.

We got a ton of great reader feedback on last week’s dispatch, which featured seven radical insights on Bitcoin from world-renowned technologist Andreas Antonopoulos. The same goes for my recent Q&A with Bitcoin expert Martin Šíp about how cryptocurrencies allow you to bet against government-issued fiat money.

And for the big call our own go-to cryptocurrencies expert Teeka Tiwari made about buying Bitcoin as a “chaos hedge.” And judging by your feedback, the latest Bill Bonner Letter issue – all about gold-backed digital payment systems Global Standard and GoldMoney – was also a big hit.

The intense interest in these new forms of money isn’t happening in a vacuum.

It’s the direct result of a profound change in our money system… one that most folks aren’t even aware of. As Bill put it in his most recent Bill Bonner Letter issue, “Evil Is the Root of All Money”:

We believe the money system is the cause of the most serious problems facing our economy. Not globalization. Not automation. Not aging people. Not excess savings or lagging demand.

The post-1971 dollar is fake money. And this fake money created an economy where fake prosperity – based on debt rather than wealth – substituted for the real thing. It caused a misuse and waste of vital capital, resulting in lower real growth, lower wages, and higher levels of debt.

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