“Have Fun Staying Poor” – Bitcoin Standard’s Ammous Warns “The Dollar Is Over… The Fiat Bargain Broke Down”

"For me, the dollar is over. The Fiat bargain broke down...

...Show me what you've done with your portfolio with your bonds with your stocks over the last five years and how has it outperformed Bitcoin. Have fun staying poor."

In this excellent discussion, renowned economist Saifedean Ammous, explains the superiority of Bitcoin over fiat currency...

"All currencies are in hyperinflation at slow motion. In the long run, Bitcoin is the short on all those currencies."

Specifically, the author of The Bitcoin Standard argues that that Bitcoin is a better technology for money and criticizes the government's ability to manipulate and steal from traditional currencies...

"Bitcoin is a better technology for money and your technology for money is a broken technology that is optimized for your government to steal from you. It's optimized for the government to be able to finance its operation."

Ammous portrays Bitcoin as a tool for freedom and a form of protest against predatory government and central bank policies.

"Bitcoin is a tool for Freedom that acts as a form of protests against the predatory policies of governments and central banks."

"If you don't want Bitcoin, if you don't agree with Bitcoin, if you don't like Bitcoin, yeah, you know, continue to use your local government's scam money, continue to hold government bonds, continue to get wiped out, put your money in banks that go under, and enjoy poverty."

The speaker highlights the limited supply of Bitcoin (21 million) and the inability for anyone to devalue or confiscate it.

"You don't have to worry about somebody taking it away from you... that's what ultimately comes down to."

Finally, he mentions his involvement with El Salvador's Bitcoin office and their efforts to develop Bitcoin programming skills in the country.

"The central bank is not there to help you have money. We've had money without central banks.

Bitcoin fixes all of that. That's what ultimately comes down to...

... We can have money without Monopoly central banks. It's entirely possible to have a free market monetary system on any form of money, and the free market will choose money on its own."

Watch the full discussion below: