Bitcoin Standard Author Envision World Without Fiat

Saifedean Ammous, author of "The Bitcoin Standard," discusses his latest book, "The Gold Standard," which posits that fiat currency is the root cause of societal ills, including World War I. In this alternate history, a decentralized, immutable gold-based system of value transfer is invented in 1915. This system, facilitated by a fictional company, Blériot Transport Corporation (BTC), which uses advanced aircraft to move gold internationally, causes a capital flight that drains central banks, forcing belligerent nations to stop fighting by early 1915. The resulting peace, codified by the "Treaty of Geneva" and the ICSD, leads to "hypergoldenization," massive prosperity, and the emergence of a corporate governance model focused on security and low-cost services. Ammous argues that without fiat money financing conflicts, major negative events like WWII, socialism, and climate change are averted, resulting in a world of abundant comfort and technological advancement. While acknowledging the speculative nature of the premise, Ammous uses this thought experiment to impart the fundamental lessons about capital accumulation and the dangers of inflationary, centrally controlled money.

(Source：Cointelegraph)