KDC #90: Stefanie von Jan & Emil Sandstedt - "Money Creation in Fiat System"

Stefanie von Jan & Emil Sandstedt join me in this episode to discuss the fundamental questions on "Money Creation in the Fiat System".   

We talked about:  

⁃ Money creation at central banks and banks in the process of both credit creation and asset purchase  

⁃ Discussion whether fiat money is „debt“ or „money“ and reconciliation of both

- fiat money as „debt money“  

⁃ The fiat system as a debt system (fiat is backed by future tax payments)

⁃ Debt money is destroyed when paid back - money created through asset purchase cannot be destroyed

⁃ Fiat as a medium due to its acceptance as a medium of exchange

⁃ Fiat is not a good store to value since new money creation is centralized and therefore unreliable   

⁃ The Federal Reserve forwards its revenue to the government and can therefore not be considered independent   

⁃ Discussion of the importance of scarcity for a sound money  

⁃ Stock to flow as a measure of scarcity   

⁃ Inflation

- when does it hit us and how strongly?   

⁃ Did central banks buy Bitcoin already or are they going to do so?   

⁃ Transition to Bitcoin as a monetary system - gradually then suddenly   

Links of Stefanie von Jan & Emil Sandstedt:   

twitter: @stefanievjan

twitter: @bezantdenier  

Article by Stefanie: "Money creation in the fiat system — a balance sheet analysis of central banks and banks"

Book by Emil: "Money Dethroned- A Historical Journey" 

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