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Publisher's Summary

In The Fiat Standard, world-renowned economist Saifedean Ammous applies his unique analytical lens to the fiat monetary system, explaining it as a feat of engineering and technology just as he did for bitcoin in his global best seller The Bitcoin Standard.

This time, Ammous delves into the world's earlier shift from the gold standard to today's system of government-backed fiat money—outlining the fiat standard's purposes and failures; deriving the wider economic, political, and social implications of its use; and examining how bitcoin will affect it over time.

With penetrating insight, Ammous analyzes global political currencies by analogy to bitcoin: how they're "mined" whenever government-guaranteed entities create loans, their lack of inherent restraints on inflation, and the rampant government intervention that has resulted in heavy, devastating, and persistent distortions to global markets for food, fuel, science, and education.

Through these comparisons, Ammous demonstrates that bitcoin could be our next step forward—providing high salability across space, just like the fiat system, but without the unchecked fiat-denominated debt. Rather than a messy hyperinflationary collapse, the rise of bitcoin could look like a debt jubilee and an orderly upgrade to the world's monetary operating system, revolutionizing global capital and energy markets.

©2021 Saifedean Ammous (P)2022 Saifedean Ammous

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What listeners say about The Fiat Standard

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Mixes his extreme right wing views with Bitcoin

I don't normally write reviews...so I had to make an exception for this terrible book. Really enjoyed the last book on Bitcoin and expected a similar result from this book. However, the author peddles unscientific claims about health diets that is contrary to medical research. He goes on a tirade about climate change not being true. It seems the author was waiting to unleash his right wing views to an audience and decided to present it in this book. Its baffling why he decided to express such irrelevant topics in a book about Bitcoin and Fiat money.

6 people found this helpful

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  • HM
  • 06-14-22

keep narrative to economics related topics

While the econ bits are fairly interesting and logical, there are a number of chapters with a number of misleading claims and accusations outside of the realm of his expertise. Unbearable tbh, had to skip whole chapters :/

1 person found this helpful

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Glue on the puzzle!

This is a great book. It neatly tied together so many pieces of fiat puzzle.

1 person found this helpful

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One of the best books on money ever written

Not only will you be immensely enlightened as a novice to money and banking. You will realize the absolute intrusion of fiat currency on every aspect of daily life and how monstrous this creature has become as it has the potential to destroy all the we love. The end brings hope with how bitcoin solves the problem of fiat and will forever help us progress our livelihoods.

1 person found this helpful

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fiat man and debt slavery

Thanks for writing this book and helping a fiat man see that he is indeed intended in debt slavery from a sick and corrupt monetary system. Now at least I know. it is up to each of us to earn our freedom.

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Very Informative and well explained

I have not heard a better or clearer explanation of how the world's fiat money systems work. he does not just rag on it. he steel man's their points, the needs that brought them about and why it was not evil but still does not shy away from explaining their inherent flaws as well. very much from an academic point of view. well done.

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  • RP
  • 09-07-22

reading doesn't match original text in the book

The hook is very good just don't listen and read as reading doesn't match original text in the book.

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Total speculation

Full of rampant speculation. More than one supporting statement or story per argument is needed to make your case.

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Less informative than Bitcoin Standard

Bitcoin standard had lots of interesting history. This was more more like an angry ramble.

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Great read. Almost complete.

More citing is required for the reader to believe this material is unbiased and not directed at destroying the Dollar as the World's Reserve Currency. A deep delve into internet communications and the fragility of the current web needs to be addressed.

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  • Amazon Customer
  • 04-28-22

Biased, contradictory and unsubstantiated claims

Saifedeen clearly has an axe to grind with the government. he makes wild accusations about education, healthcare, nutrition, science, war and climate change; all of which are unexplored and unsubstantiated. Essentially, everything bad about the world is because of greedy governments trying to control you by getting you into debt. After reading The Bitcoin Standard, I wasn't fond of Saifedeen due to him calling Keynes a pedofile, but this book makes him sound like a spokesman for QAnon.

There are some snippets of information about how our financial systems work, but he uses blatantly biased language at all times when talking about Fiat. He purposely refers to fossile fuels as."hydrocarbons" as if to make them sound more scientific and more advanced than current, greener technology. He talks about people getting fatter because of government campaigns to reduce the amount of red meat we eat, but then later says that the fattest people eat more red meat.

100 % biased hyperbole. don't waste your credits

5 people found this helpful

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  • CHRIS
  • 06-16-22

Outstanding

this man must be amassing some very powerful enemies by now, as his work is shining a light on the complete corruption of the fiat world we live in...

1 person found this helpful

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  • Reece
  • 06-06-22

A 'Vaccine' for the fiat afflicted!

Get cured now and stop thinking in a fiat way. This book guides you through and explains some of the worst fiat atrosoties past, present and potential future ones. Do not underestimate the huge damage that has occurred by allowing government to steal you lifeforce in the form of time needed to earn their funny money coupons. Listen or read this deeply researched book when you can still act upon the information inside it. #Bitcoinfuture

1 person found this helpful

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  • The Don
  • 03-30-22

Essential reading.

This is essential reading for anyone interested in money, Bitcoin and protecting their wealth. Great book!

1 person found this helpful

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  • Jørgen
  • 06-26-22

Biased by ego

The author touches upon interesting areas of the history and economics, but his statements and opinions are to much of personal opinions farther than well-put arguments. It feels like a personal rant that drains the book of the leverage it could have held in the discussion of money and economics. It bases a lot upon the author’s former book The Bitcoin Standard, one that to my understanding is highly flawed when it comes to the historical background it applies to money and economics in earlier centuries. An important review of that book is written by Frances Coppola and should be attached to the book cover. I fear that this book include many of the same fallacies as The Bitcoin Standard to which it references to regularly and bases many of its arguments an conclusions upon.

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  • JayD
  • 04-01-22

Disappointing

The book started off well enough - with a decent overview of fiat currency, its history and general architecture. The use of the cryptocurrency analogy is an interesting way in which to describe how fiat works, particularly when comparing against gold-backed currency.
However as the narrative progresses the author’s objectivity gives way to what is clearly a personal agenda, devolving into something resembling a conspiracy theory. Any credibility established in the first few chapters is compromised by a series of speculative associations presented as fact, with little to no real supporting evidence.
This becomes particularly apparent in the “Fiat Food” chapter, where I decided to stop listening.

3 people found this helpful