Chapter
The Flaws of Implementing a Global Monetary System
2:24:44 - 2:30:59 (06:14)
The implementation of a global monetary system faces the dilemma of who will have the final say, despite the efforts of governments to create their own monetary systems based on credit or copper grains, ultimately, billions of people would want to trade with one another.
Clips
Governments can issue their own laws, designs and monetary systems, but ultimately the desire for trade between China and the dollar-based world means the most likely scenario is a Chinese-based currency system.
2:24:44 - 2:28:21 (03:37)
Currency, China, Global Trade
Summary
Governments can issue their own laws, designs and monetary systems, but ultimately the desire for trade between China and the dollar-based world means the most likely scenario is a Chinese-based currency system.
ChapterThe Flaws of Implementing a Global Monetary System
Episode#284 – Saifedean Ammous: Bitcoin, Anarchy, and Austrian Economics
PodcastLex Fridman Podcast
Basing a monetary system on commodities such as copper may lead to governments bidding up essential commodity prices and harming the global economy and industries dependent on those commodities.
2:28:21 - 2:30:59 (02:37)
Global Monetary System
Summary
Basing a monetary system on commodities such as copper may lead to governments bidding up essential commodity prices and harming the global economy and industries dependent on those commodities.