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"Central Banking is successful alchemy in this sense. The money- issuing institutions of the world have found a way to create new money with no cost. No mining is required. They are the alchemists of our era. The Central Banks\u2019 promise of stable prices is as absurd as the alchemists\u2019 promise of cheap gold. The whole point of a value- measurement tool, or a type of money, is in its costliness. It has to somehow connect to reality because of the subjective nature of value. Money created without cost is like fools\u2019 gold.2 It enriches the issuer and his friends while everyone else pays for the whole ordeal. This is also known as the Cantillon Effect." - Knut Svnaholm\n\nThe Konsensus Network - https://bitcoinbook.shop/\nIoni's Videos - Youtube Channel\nKnut's other amazing books - Amazon\n\nGuy's Nostr Pubkey: npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev\nCode BITCOINAUDIBLE gets 10% off your Bitcoin2023 tickets!\n\nDon't forget to check out our amazing sponsors:\n\u2022 The Swan IRA is live! Follow the link to find out how to get your tax free retirement funds, securely allocated to Bitcoin! The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)\n\u2022 Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://bitcoinaudible.com/fold)\n\u2022 Dive into the Bitcoin only wallet, the cypherpunk calculator, with the NEW Coldcard Q1! A company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off the ColdCard! (https://bitcoinaudible.com/coldcard)\n\n------------------------------------\n\u201cIndividual liberty\u2026 demonstrates that some manners of living are more successful than others.\u201d \u2014 F.A. Hayek\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices\n\n--- \n\nSend in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message