isn't the idea that money is NOT precious metal backed nor treasury controlled the problem? which to me is why crypto is not really dependable as it is just another fiat currency. please prove me wrong.
Looks like he just missed typing “not”.
Crypto also isn’t fiat. We don’t want a CBDC, though, correct.
A CBDC would be a crypto that is controlled exclusively by the government, so yes that would effectively be fiat, but far worse - every transaction would be tracked by the government and they could still print money. Such a system would probably be checkmate against us.
Bitcoin is not centrally owned or controlled. Crypto is not inherently centrally controlled.
Fundamentally, crypto is not a “coin”, but a distributed ledger. All transactions are fundamentally ledger entries, whether recorded or not. “We agree to this” “Each party provided X and Y”
If we, the people, select a crypto, it is not fiat, but what we selected. If the government tells us we are going to or should use crypto, it is “fiat”, but it would not necessarily be government controlled, that depends on what crypto is used.
What needs to happen is that the people need to select PMs, cryptos, and other assets, and wisely, to become our new economic mediums of exchange.
I haven’t read it yet, but have heard we should all read the book “Softwar”.
Our money should be government issued. The problem is that with the Federal Reserve we’ve been pretending that’s the case when in fact it’s privately controlled. Fiat isn’t the problem. Private banking, usury, and fractional reserve lending is the problem. The government should absolutely be printing our money and it really doesn’t matter if it’s tied to anything or not.
At least that’s how I understand “Money Masters.”
I think there should be government issued money to ensure proper weights and measures, but outside of that, government money doesn’t have to be the only money, by any means.
It also shouldn’t be printed per se, but something of relatively stable value.
thanks, will look into these links. as far as fiat, I had thought it was the "paper currency" that was issued by banks and not backed by gold or other precious metals. which is the reason the constitution specifically give the congress the right to authorize the treasury to COIN money. not the issuance of paper promissory notes. since crypto is not backed by gold or other tangible medium, that would make it crypto. remember, this is what I THOUGHT was the meaning of it all. now I need to dig further...
That's the common usage of the word "fiat" for currency: backed by nothing.
Crypto can be fiat, or it can be backed. Lots of details to make it one way or the other, or even a hybrid mix. But the securely distributed ledger, known as blockchain, is a prerequisite for any serious crypto.
Looks like he just missed typing “not”.
Crypto also isn’t fiat. We don’t want a CBDC, though, correct.
Go check out Rugpull Radio on Rumble.
is crypto issued by any government or is it backed by precious metals? if it is not, isn't that the definition of fiat currency?
We currently can buy gold and silver with crypto at some brokers.
we can buy gold and silver with the usd, which is fiat currency.
“Fiat” means, “By Decree”.
A CBDC would be a crypto that is controlled exclusively by the government, so yes that would effectively be fiat, but far worse - every transaction would be tracked by the government and they could still print money. Such a system would probably be checkmate against us.
Bitcoin is not centrally owned or controlled. Crypto is not inherently centrally controlled.
Fundamentally, crypto is not a “coin”, but a distributed ledger. All transactions are fundamentally ledger entries, whether recorded or not. “We agree to this” “Each party provided X and Y”
If we, the people, select a crypto, it is not fiat, but what we selected. If the government tells us we are going to or should use crypto, it is “fiat”, but it would not necessarily be government controlled, that depends on what crypto is used.
What needs to happen is that the people need to select PMs, cryptos, and other assets, and wisely, to become our new economic mediums of exchange.
I haven’t read it yet, but have heard we should all read the book “Softwar”.
https://archive.org/details/lowery-jason-p.-major-softwar-a-novel-theory-on-power-projection-and-the-nationa
And here is u/MemeToDeath2021 explaining things better than me.
https://greatawakening.win/p/17txMS5XJ1/amazon-has-removed-the-ability-t/c/
And Rugpull Radio
https://greatawakening.win/p/16an5bgnv0/rugpull-radio-ep27-pip-and-gmone/c/
Our money should be government issued. The problem is that with the Federal Reserve we’ve been pretending that’s the case when in fact it’s privately controlled. Fiat isn’t the problem. Private banking, usury, and fractional reserve lending is the problem. The government should absolutely be printing our money and it really doesn’t matter if it’s tied to anything or not.
At least that’s how I understand “Money Masters.”
You listen to Bill Still?
I think there should be government issued money to ensure proper weights and measures, but outside of that, government money doesn’t have to be the only money, by any means.
It also shouldn’t be printed per se, but something of relatively stable value.
Good post that taught me.
thanks, will look into these links. as far as fiat, I had thought it was the "paper currency" that was issued by banks and not backed by gold or other precious metals. which is the reason the constitution specifically give the congress the right to authorize the treasury to COIN money. not the issuance of paper promissory notes. since crypto is not backed by gold or other tangible medium, that would make it crypto. remember, this is what I THOUGHT was the meaning of it all. now I need to dig further...
That's the common usage of the word "fiat" for currency: backed by nothing.
Crypto can be fiat, or it can be backed. Lots of details to make it one way or the other, or even a hybrid mix. But the securely distributed ledger, known as blockchain, is a prerequisite for any serious crypto.
No worries, figuring out what’s going on is what we’re all here for!