Fiat was to gold as crypto is to bitcoin. Fools gold, seigniorage, inflation. — Adam Back
Fiat is predictably unpredictable. Bitcoin is predictably predictable. A difference that makes all the difference. — Robert Breedlove
The fundamental engineering feature of the fiat system is that it treats future promises of money as if they were as good as present money because the government guarantees these promises. — Saifedean Ammous
Instead of saving for the possibility of a rainy day, fiat makes you borrow against all of your future sunny days. — Saifedean Ammous
The criminal part of fiat money is that you have to earn it twice. Fiat removes the ability to save and forces everybody to become an investor, or more accurately, a gambler. — Saifedean Ammous
Fiat money creates fiat billionaires who are bored, and turn to sadism to relieve their boredom. Bitcoin fixes this. — Max Keiser
Audaces fortuna iuvat (latin)- Fortune favors the bold. — Virgil
Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted. — Alan Greenspan
The fiat blackhole is the darkness before the orange dawn. — Adam Back
I am not smart. I am not good-looking. I don't have — Changpeng Zhao
Bitcoin talks, fiat bullshit walks. — Adam Back
I will never risk getting caught short of cash. — Warren Buffett
Thus, the use of fiat money is more justifiable in financing a depression than in financing a war. — Carroll Quigley
Fiat has a lot going for it in terms of design, technology and efficiency. — Peter Schmidt
Fiat justitia et pereat mundus.Let justice be done, though the world perish. — Ferdinand I
When science has sent forth her fiat - it is only to hear and obey. — Jules Verne
Fiat has assembly plants in Brazil and Argentina. — Ratan Tata
Only the naive inflationist's could believe that government could enrich mankind through fiat money. — Ludwig von Mises
Fiat Image Quotes
Fiat Money Quotes
In 1971, the U.S. 'closed the gold window,' starting an era of global fiat money reference-pricing that has been unprecedented in history. Never before had the world operated on the basis of no country anywhere having a currency tied to something with intrinsic value like gold. — Max Keiser
What is money? A store of value. A medium of exchange. A unit of account. And a system of control. That fourth property isn’t usually listed! Yet it’s all important. Digital fiat can be frozen, but Bitcoin can’t. It frees you from their system of control. — Balaji Srinivasan
Bitcoin exchanges are run by people who learned fiat finance. Gambling with depositors' money is normal & healthy for them, because in the fiat system the central bank destroys the currency to bail them out every time it goes wrong. — Saifedean Ammous
Gold, unlike all other commodities, is a currency...and the major thrust in the demand for gold is not for jewelry. It's not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating. — Alan Greenspan
The problem with fiat money is that it rewards the minority that can handle money, but fools the generation that has worked and saved money. — Adam Smith
There have been unions based on gold or silver, but not on fiat money - money tempted to inflate - put out by politically independent entities. — Milton Friedman
As long as we issue fiat currency, I see no alternative to a legal tender law. — Alan Greenspan
The national debt is totally unlike a family budget for about a gazillion reasons, not the least of which being that families cannot raise money by fiat or deflate the size of their debt unilaterally and that family members die instead of existing infinitely. — Matt Taibbi
I want to make it clear what I am not saying. I am not saying that fiat money, once established on the ruins of gold, cannot then continue indefinitely on its own. — Murray Rothbard
If it's not accepted that big government, fiat money, ignoring liberty, central economic planning, welfarism, and warfarism caused our crisis, we can expect a continuous and dangerous march toward corporatism and even fascism with even more loss of our liberties. — Ron Paul
Bitcoin is more efficient than gold. It’s more efficient than fiat money. It’s more efficient than storing your money in an Airbnb rental apartment. It’s just the most efficient energy system and rational people everywhere in the world, they’re looking at it saying ‘Why wouldn’t I want to store my money in a property that is the apex property of the human race? — Michael Saylor
Companies disrupting the traditional world order - like Tesla and Square - are wise to hedge their fiat reserves with Bitcoin. Other companies in harm’s way because of disruptive innovation should be investing their cash in new technologies to avoid creative destruction. — Cathie Wood
Bitcoin effectively combines gold’s salability across time with fiat’s salability across space in one apolitical, immutable, open-source package. — Saifedean Ammous
The case for bitcoin as a cash item on a balance sheet is very compelling for anyone with a time horizon extending beyond four years. Whether or not fiat authorities like it, bitcoin is now in free-market competition with many other assets for the world’s cash balances. It is a competition bitcoin will win or lose in the market, not by the edicts of economists, politicians, or bureaucrats. If it continues to capture a growing share of the world’s cash balances, it continues to succeed. As it stands, bitcoin’s role as cash has a very large total addressable market. The world has around $90 trillion of broad fiat money supply, $90 trillion of sovereign bonds, $40 trillion of corporate bonds, and $10 trillion of gold. Bitcoin could replace all of these assets on balance sheets, which would be a total addressable market cap of $230 trillion. At the time of writing, bitcoin’s market capitalization is around $700 billion, or around 0.3% of its total addressable market. Bitcoin could also take a share of the market capitalization of other semihard assets which people have resorted to using as a form of saving for the future. These include stocks, which are valued at around $90 trillion; global real estate, valued at $280 trillion; and the art market, valued at several trillion dollars. Investors will continue to demand stocks, houses, and works of art, but the current valuations of these assets are likely highly inflated by the need of their holders to use them as stores of value on top of their value as capital or consumer goods. In other words, the flight from inflationary fiat has distorted the U.S. dollar valuations of these assets beyond any sane level. As more and more investors in search of a store of value discover bitcoin’s superior intertemporal salability, it will continue to acquire an increasing share of global cash balances. — Saifedean Ammous
Global bonds are collapsing in their fiat currencies, which are collapsing against the dollar, which is fast losing purchasing power. It will be months & years before the average fiat user realizes just how much they're getting ruined financially. The new normal is poverty. — Saifedean Ammous
The problem with fiat is that simply maintaining the wealth you already own requires significant active management and expert decision-making. You need to develop expertise in portfolio allocation, risk management, stock and bond valuation, real estate markets, credit markets, global macro trends, national and international monetary policy, commodity markets, geopolitics, and many other arcane and highly specialized fields in order to make informed investment decisions that allow you to maintain the wealth you already earned. You effectively need to earn your money twice with fiat, once when you work for it, and once when you invest it to beat inflation. The simple gold coin saved you from all of this before fiat. — Saifedean Ammous
Every unit of purchasing power you store in Bitcoin rather than fiat currency mitigates The State’s ability to wage war. In other words, saving in Bitcoin is a vote against violence. — Robert Breedlove
If by some fiat I had to restrict all this writing to one sentence, this is the one I would choose: The summit of Mt. Everest is marine limestone. — John McPhee
When you buy me, you are buying a Ferrari. If you drive a Ferrari you put premium fuel in the tank, you drive onto the motorway and you floor the accelerator. Guardiola filled up with diesel and went for a spin in the countryside. If that’s what he wanted, he should have bought himself a Fiat from the start. — Zlatan Ibrahimovic
May Mary, who in the freedom of her 'Fiat' and her presence at the foot of the cross, offered to the world, Jesus, the Liberator, help us to find him in the Sacrament of the altar — Pope John Paul II
When irrational terror takes to itself the fiat of moral goodness somebody has to die. ... No man lives who has not got a panic button, and when it is pressed by the clean white hand of moral duty, a certain murderous train is set in motion. — Arthur Miller
To be a fully functioning moral agent, one cannot passively accept moral principles handed down by fiat. Moral principles require moral reasoning. — Michael Shermer
Our soul, like Mary's body, is to receive God Himself if only we, like her, believe, consent and receive; if only we speak her truly magic word fiat, "let it be." It is the creative word, the word God used to create the universe. — Peter Kreeft
Fiat justitia, ruat coelum. (Do the right thing even if the heavens fall.) It's not nearly as naïve a maxim as it seems, because in the real world it often turns out that doing what is morally the right thing is also, in practical terms, the right thing to do. — Gwynne Dyer
If I buy a Fiat Uno, I'll read that, for a man like me, a Ferrari was more suitable. If instead I buy a Ferrari, they'll write that I should have kept my feet on the ground and bought a Fiat. If I smile, I'm not serious. If I don't smile, I'm a rich sulker that doesn't enjoy having the most beautiful job in the world. — Mario Balotelli
If you reject the infinite, you are stuck with the finite, and the finite is parochial... the best explanation of anything eventually involves universality, and therefore infinity. The reach of explanations cannot be limited by fiat. — David Deutsch
The gold standard, in one form or another, will prevail long after the present rash of national fiats is forgotten or remembered only in currency museums. — Hans F. Sennholz
The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice. — Henry Hazlitt
Of all the cars I've owned, I'd like still to have the Ferrari, the Porsche, the Alfa, the Lancia, the MG-TCs and the Fiat 850, but mostly I miss my Mini Moke. — Denise McCluggage
In its heyday, the car was an expression of technical flair and design genius: the original Mini, the Beetle, the 2CV, and the Fiat 500 were all, in their various ways, inspired incarnations of functionality. — Martin Jacques
All businesses, including gasoline stations and restaurants, should close ever Sunday... by force of legislative fiat through the duly elected officials of the people. — Harold Lindsell
When we talk about democracy, if the people's stomach is empty, democracy is also empty. Democracy can not be installed by fiat; it must be achieved by the people themselves. — Y. C. James Yen
Our fiat currency is under increasing stress with our large and growing trade deficits. We have a federal deficit that is calculated in the trillions when we take into account the net present value of the future Social Security and Medicaid obligations we are creating today. — George Noory
Don’t you love quotations? I am immensely fond of them; a certain proof of erudition.... [I]f you should happen to write an insipid poem... send it to me, and my fiat shall crown you with immortality. — Frances Brooke
And what did the banks do to earn this perpetually flowing river of wealth? Did they lend out their own capital obtained through investment of stockholders? Did they lend out the hard-earned savings of their depositors? No, neither of these were their major source of income. They simply waved the magic wand called fiat money. — G. Edward Griffin
It is demonstrable from Geology that there was a period when no organic beings had existence: these organic beings must therefore have had a beginning subsequently to this period; and where is that beginning to be found, but in the will and fiat of an intelligent and all-wise Creator? — William Buckland
The perfect world, by Adam trod,
Was the first temple--built by God--
His fiat laid the corner stone,
And heaved its pillars, one by one. — Nathaniel Parker Willis
In Conclusion
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