MONEY AND STATE

• Separation of money and the state.

INTRODUCTION
• Altcoins: or alternative coin are generally defined as all cryptocurrencies other than Bitcoin.

• Bitcoin: a revolutionary technology about how human beings can store and transfer value among themselves, and
across time and space.

CHAPTER 1
Fiat Money: a government-issued
• Bitcoin is a solution (fix the money, fix the world). currency that is not backed by a

• The problem: fiat money is broken. C commodity such as gold. Fiat money
gives central banks greater control
• We live in an era of unsound money, one that results in
over the economy because they can
concentrated power and manipulation, in unfairness, inequality and injustice.
control how much money is printed.
Most modern paper currencies, such
PROBLEMS OF THE FIAT SYSTEM as the U.S. dollar, are fiat currencies

1. INFLATION:
• problem: prices are going up, goods and services are becoming
expensive (citizens are educated to accept that this is the reality of
their money—that it is meant to lose a certain percentage every year PROBLEMS OF THE FIAT

because that is simply how money works). SYSTEM

1. Inflation
• reason: MONEY IS LOSING ITS VALUE (money that is being inflated is 2. Banking the Unbanked
3. High Fees
equivalent to money losing its value—wages go south). 4. Monetary Repression
• INFLATION IS WAGE DEFLATION: if the monetary system mandates 5. Bailouts, Bail-ins, Asset
Freezes
inflation—it requires that people’s wages must lose value over time. (Loss 6. 24/7/365
of value is transferred somewhere else—inflation is taxation). 7. Forever Wars
8. Monetary Colonialism and
• IMAGINE A MONETARY SYSTEM THAT DOES NOT REQUIRE Imperialism

INFLATION—OR SOLVES THE PROBLEM OF INFLATION. 9. Hostaging Future

Generations
10. CBCDs
2. BANKING THE UNBANKED:
• access to financial services requires a bank account (both a
privilege and a disadvantage)
• banking systems currently playa significant role in economic mobility
(Like the transfer of money local or international)
• problem: banking infrastructure is expensive business—the high cost
of establishing, operating, and maintaining banking facilities, generally a
private cost—translates to a barrier for underprivileged citizens who needs
access to various financial services. (A huge number percentage of the
population is unbanked and suffer from economic disability).
• IMAGINE A MONETARY SYSTEM WHERE PEOPLE ARE
THEIR OWN BANKS.