WBTM on Nostr: Fiat money was a big step up from the gold standard because it's easier to handle and ...
Fiat money was a big step up from the gold standard because it's easier to handle and more flexible for growing economies. But here's the catch: it all hinges on trust in the people in charge, and history shows us that this trust gets broken time and again. That's the Achilles' heel of fiat - relying on humans not to mess up, and well, we've seen how that goes
#Wbtm
Published at
2024-06-04 20:04:39Event JSON
{
"id": "2882db3881161c227fad1c18902b4c998b45dea01d1332935eee5e3692b512cd",
"pubkey": "974245625f27b25ba05834fa0e7f410ec90b0d8e76a2d340cc22410920af21b7",
"created_at": 1717524279,
"kind": 1,
"tags": [
[
"t",
"wbtm"
]
],
"content": "Fiat money was a big step up from the gold standard because it's easier to handle and more flexible for growing economies. But here's the catch: it all hinges on trust in the people in charge, and history shows us that this trust gets broken time and again. That's the Achilles' heel of fiat - relying on humans not to mess up, and well, we've seen how that goes\n\n#Wbtm",
"sig": "c3ece794d0726f5a6c0125146105b8b25eba5da762843561497fb652c3ca209440a0575da4dad188634e5d499ce4bc4b404fd27482ebb34d1e2cccd3bc42d541"
}
