Home > Author > Saifedean Ammous
1 " With the simple suspension of gold redeemability, governments’ warefforts were no longer limited to the money that they had in their owntreasuries, but extended virtually to the entire wealth of the population.For as long as the government could print more money and have thatmoney accepted by its citizens and foreigners, it could keep financingthe war. Previously, under a monetary system where gold as money wasin the hands of the people, government only had its own treasuries tosustain its war effort, along with any taxation or bond issues to financethe war. This made conflict limited, and lay at the heart of the relativelylong periods of peace experienced around the world before the twentiethcentury. "
― Saifedean Ammous , The Bitcoin Standard: The Decentralized Alternative to Central Banking
2 " According to Cantillon, the beneficiaries from the expansionof the money supply are the first recipients of the new money, who are able to spend it before it hascaused prices to rise. Whoever receives it from them is then able to spend it facing a small increase in theprice level. As the money is spent more, the price level rises, until the later recipients suffer a reductionin their real purchasing power. This is the best explanation for why inflation hurts the poorest and helpsthe richest in the modern economy. "
3 " This is a historical lesson of immense significance, and should be kept in mind by anyone who thinks his refusal of Bitcoin means he doesn't have to deal with it. History shows it is not possible to insulate yourself from the consequences of others holding money that is harder than yours. "
4 " its mere existence is an insurance policy that will remind governments that the last object the establishment could control, namely, the currency, is no longer their monopoly. This gives us, the crowd, an insurance policy against an Orwellian future. "
5 " money that is easy to produce is no money at all, and easy money does not make a society richer; on the contrary, it makes it poorer by placing all its hard‐earned wealth for sale in exchange for something easy to produce. "
6 " History has shown that governments will inevitably succumb to the temptation of inflating the money supply. "
7 " Sound money is also an essential element of a free society as it provides for an effective bulwark against despotic government. "
8 " Civilization is not about more capital accumulation per se; rather, it is about what capital accumulation allows humans to achieve, the flourishing and freedom to seek higher meaning in life when their base needs are met and most pressing dangers averted. "
9 " The introduction of Bitcoin, as a currency native to the Internet superseding national borders and outside the realm of governmental control, offers an intriguing possibility for the emergence of a new international monetary system, to be analyzed in Chapter 9. "
10 " La historia demuestra que no es posible aislarse de las consecuencias de que otras personas cuenten con una moneda más fuerte que la tuya. "
11 " Sound money allows people to think about the long term and to save and invest more for the future. Saving and investing for the long run are the key to capital accumulation and the advance of human civilization. "
12 " While microeconomics has focused on transactions between individuals, and macroeconomics on the role of government in the economy, the reality is that the most important economic decisions to any individual's well-being are the ones they conduct in their trade-offs with their future self. "
13 " Capitalism is what happens when people drop their time preference, defer immediate gratification, and invest in the future. Debt‐fueled mass consumption is as much a normal part of capitalism as asphyxiation is a normal part of respiration. "
14 " Any industry in which people complain about their asshole boss is likely part of the bezzle, because bosses can only really afford to be assholes in the economic fake reality of the bezzle. In a productive firm offering valuable service to society, success depends on pleasing customers. Workers are rewarded for how well they do that essential task, and bosses who mistreat their workers will either lose the workers to competitors or destroy their business quickly. In an unproductive firm that does not serve society and relies on bureaucratic largesse for its survival, "
15 " A good that assumes the role of a widely accepted medium of exchange is called money. "
16 " Como Friedrich Hayek colocou: Eu não acredito que jamais teremos um bom dinheiro novamente antes de tirarmos a coisa das mãos do governo, isto é, não podemos tirá-la violentamente das mãos do governo, tudo o que podemos fazer é de alguma maneira astuta introduzir algo que eles não possam parar "
― Saifedean Ammous , O Padrão Bitcoin (Edição Brasileira): A Alternativa Descentralizada ao Banco Central
17 " Bitcoin effectively combines gold’s salability across time with fiat’s salability across space in one apolitical, immutable, open-source package. "
― Saifedean Ammous , The Fiat Standard: The Debt Slavery Alternative to Human Civilization
18 " For as long as the government could print more money and have that money accepted by its citizens and foreigners, it could keep financing the war. "
19 " The total U.S. M2 measure of the money supply in 1971 was around $600 billion, while today it is in excess of $12 trillion, growing at an average annual rate of 6.7%. "
20 " Como um professor de economia, eu faço questão de ensinar o experimento do marshmallow em todos os cursos que dou, já que acredito que esta é a lição de mais importante que a economia pode ensinar aos indivíduos, e fico espantado como essa lição é ignorada como parte do currículo universitário em economia, ao ponto em que muitos economistas acadêmicos não têm nenhuma familiaridade com o termo preferência temporal ou com sua importância. Enquanto "
