The New Standard

I’ve been elbow deep in Crypto Twitter for the past couple weeks and finally picked up a copy of The Bitcoin Standard by Saifedean Ammous. The book covers the history and definition of money, pitfalls of national fiat and central planning, and a strong argument for sound money and why bitcoin is the best money we’ve ever had.

One of my favorite themes is how sound money makes a moral society and demands a balanced budget from the government. Also sound money facilitates international commerce because everyone understands the value of the currency. There’s no crazy calculations needed to conduct commerce internationally when your on a gold standard because everyone knows how much currencies are worth.

What makes good money?

It can be transported easily, scalability, durability, fungibility, salability, also it needs to be inflation and deflation resistant and have a high stock to flow ratio.

I also enjoyed his opinion on Keynes and Friedman. I didn’t know Keynes was an entitled pedo. Also, I need to read more on Friedman so I can explain monetarist theory.

I asked Crypto Twitter for a recommendation on my next book and they came through as usual.

If you’re ready to dip your toe in sound money and free markets, you need to check out this great post from Saifedean Austrian Economics.

FYI, I am planning on Economics in One Lesson for my next book.

 

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