Lecture 3 of The Fiat Standard explains the underlying technology behind fiat: a centralized network where money is created from credit expansion, devaluing existing holders' wealth, externalizing default risk onto society, & undermining savings, trade, & capital accumulation.You can buy the hardcover, ebook or audiobook in several languages on <a href='http://saifedean.com/TFS'>saifedean.com/TFS</a>, where you can also find the full lecture notes available for free download. You can also take the rest of Saifedean's courses by signing up to a membership on <a href='http://saifedean.com/membership'>saifedean.com/membership</a>

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284. The Fiat Standard: Lecture 3 - Fiat Technology

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