Hello, and welcome to another episode of the Mark Moss Show, where we're always talking about the decentralized revolution, how the world is changing as we look at it through the lens of politics, finance, and technology. Of course, that technology is bitcoin, the decentralized technology that is changing the world. And you know, I like to bring to you some interesting thought pieces, some latest breaking news, and of course some interesting guests so you don't have to listen to me all the time.
And that's what we have today.
I'm bringing in my friend Jimmy Song. He doesn't need much of an introduction. You probably know who he is. He's written several books on bitcoin, from how to Program on Bitcoin, Thank God for Bitcoin one of my favorites, and his latest book, which is Fiat Ruins Everything, Our financial system is rigged and how Bitcoin fixes it. I'm excited to dig in Jimmy. Thanks for joining me today.
Well, thanks for having me in, Mark. It's always a pleasure.
Yeah, We've lately got to spend quite a bit of time together. We got to hang out and have dinner together in la We got to hang out in Amsterdam together. That was pretty fun. So I've enjoyed hanging out with you. I got a signed copy of your book, but I haven't really got to read through the whole thing. But let's discuss it anyway. First of all, how many books have you written?
Now?
This is number five, mark, although three of them have been with other people, so like this is my second solo effort.
Before we dig into that, I do want to just ask you about because you actually motivated me. You did a book sprint that you documented the process. There was like an article written. I think about that, and it motivated me to do a book sprint. Alex Sveetski and I wrote our book, The Uncommnist Manifesto. In that way, I think it was brilliant. It sort of changed the way that I look at big project work overall, like just kind of planning these sprints. Let's just talk about
that for a second. So what is your process for writing a book since now that you seem to almost have it, like in this autopilot where you can pump out five books?
Yeah, so depending on how I, you know, organized the book, so like Thank God for a Bitcoin, for example, was collaboration with seven other people. So it depends on exactly who's going to be writing it and sort of the bounds around that. But what I found is that you know, generally you want to begin with the end in line.
So one of the first exercises I do before writing a single word is identifying who exactly I'm writing to, so you know, if it's a collaborative effort, I have everyone write down like a very specific portrait of the audience. So it might be, you know, thirty year old men that want to date more, I don't know, whatever, whatever it is that you want to write about, you need
to have a specific audience member in mind. So for this book in particular, the audience member I came up with was some you know, sort of young male bitcoinner that's been in the space for a little while, but you know, it doesn't know sort of like the all of the ins and outs of Fiat money and how it affect everything. So that that was my target audience.
And then after that I have everyone write sort of the Amazon book review that they want to see from that audience member after they've read the book, So like, just give yourself the benefit of the doubt all the you know, the book does exactly what you wanted to do, and afterwards, what do you want them to write on the Amazon review, and I have them write it out, so we have sort of like a north star and a good way to sort of measure whether or not
something will do what you wanted to do, because otherwise, especially when you're collaborating, a lot of things come down to stuff like ego, where a lot of people will sort of like jockey and you know, want things in there just because it's theirs, instead of focusing on the audiences,
which is what you need to do. And then it's a lot of brainstorming on ideas to get them to the point where they'll write that review, and then organizing those ideas to chapters, which then becomes your table off contents, and then getting to work on sort of fleshing out the ideas that you had before. So yeah, that's more or less the entire process I discribe.
So if you start with you start with the who the avatar? Who do I want to write to? Who are they? Where are they at? Sort of a thing, and then you write the review, which I think is genius. I've never heard about that from a book writing perspective, but that's like a typical or not maybe typical, but it's something that in personal development, they would say to like, write your own obituary, what would people say about you.
At your death?
And then you kind of live your life that way. So you're writing, you're saying what would they say about the book? And then you want to write the book that way. But you didn't talk about maybe the journey that you're trying to take that avatar on. So do you think about, Okay, here's the avatar, here's who I'm writing to, and I want to get them from here to here?
Do you think about that journey?
Yeah?
Yeah, So first, like you have to get down all the ideas right, like you know where there are when they begin the book, and you know where you want them to be at the end of the books. So there's a point A and a point B. And what what I like to do is write down one idea per like post it note, just like what do they need to know to get there?
Right?
What are the various topics that they're going to need to know about or various ideas that you need to convey to them, And you just like brainstorm for you know, thirty minutes to an hour or something like that, and just write down every single thing that you can think of, and then you stick them on a wall so that you have some you know, semblance of organization. And then you organize them based on sort of like broad categories and so on, ideas that are similar to each other
and so on. And then once you have these clumps and you go ahead and label them and those become your chapters. And then once you have the chapters and you think about, okay, what makes the most sense to
take them on this journey? This is the journey part that you're talking about, where okay, we have these overall large ideas that you need to take them from A to B. Okay, what like what's the sequencing that makes sense so that they'll be able to get it and arrive at the place that that you want them to.
You don't necessarily want to start, for example, with something very complicated that's maybe a later chapter, but something that gets them in, you know, puts them through that journey where they can sort of end where you want them to go.
Yeah, so you kind of figure out where you're taking them after you've sort of done the brain dump and put everything there, rather than doing that first.
Yeah, And because in a sense, the book sort of emerges out of the ideas that you need to convey. And you know, if you if you try to sort of like program it too much, and I don't know, maybe maybe that that sort of thing works much better in fiction or something like that. But at least for you know, the specific goal that you have, you know, some some level of thinking about like what what sort
of journey are they going to take? Does come into play, you know, during the process, and you can you can adjust certain things. So for example, when we were doing Thank God for Bitcoin, the the journey that we wanted them to go on is sort of like the Chrystal Christological sort of journey, right, Like there's the corruption that first happens, and then the the corruption. Uh uh, there's the corruption, the creation, corruption, and redemption. It's a it's
a it's the entire redemption arc. That made sense because of all the ideas that we wanted to put in there. So we wanted to uh inform everyone about like inflation, the federal reserve and like the immorality of money and things like that, and but also like how it corrupts all of these things at a societal level, at an individual level, even at church level. And then finally bring in the redemption element, which is the last two chapters about bitcoin, and that arc worked out, and that's sort
of like a template. I don't know if you've heard of like the story with Many Faces or something like that. There's only like, you know, eleven or twelve arc types of stories in the world or something like that, and every book can more or less be fit into one of those. So you can sort of fit that in after you've you know, got the material and take readers sort of on that same journey.
It's interesting.
I like that. And do you follow that same approach whether you're writing on your own or with a group. Are you still you would do it on your own or then you have the group sort of do it and then you kind of you bring it together.
Yeah. For the group one, it has to be more structured, just because you're having to coordinate a lot more people and having them do certain things, and they need very specific instructions so that you come out having sort of like a coherent voice. Individually, it's a little bit looser, and I found myself actually like having trouble with that art or how to present this material in a coherent way.
And I, at least for this particular book, I had to go change the structure like two or three times before I finally found one that I really liked.
And I got to cut you off there, Jimmy, we got to take a very short break. If you're just tune in, you're listening to the Mark Mass Show, I'm sitting down with Jimmy Song. He wrote a new book called How FIAT Ruins Everything, How our Financial System is rigged, and how Bitcoin fixes It. We're gonna come back and after a very short break and find out exactly how FIAT ruins everything, what is it ruining, how it's doing that, and so much more.
Don't go hey, We'll be right back, all right, Welcome back.
If you're just tune in, you're listening to the Mark Mass Show, I'm sitting down with Jimmy Song, and we are talking about his brand new book, Fiat Ruins Everything, How our Financial System is rigged, and how Bitcoin fixes it. We were talking about his book writing process. He's written five books, and so I just was curious about that as someone who's written my own book and want to write more, and maybe this might.
Inspire you as well.
But Jimmy, let's just dig into that Fiat ruins everything. It's a pretty big statement. So what is it ruining and how is it ruining it?
Yeah, so it's ruining things at all different levels of society. I would say it at the individual level, it impedes our ability to save, and that changes sort of the incentives all at the individual level, because we don't have very good savings vehicles. So, for example, a lot more money goes into stocks and real estate than would in a free market, just because people don't want to be losing money at a rapid clip as their currency debasis. So that that's one small way, but many other ways
as well. At the next level, up at the company level, we have giant corporations instead of I guess more human sized enterprises. There's something called Dunbar's number where you can't really know more than about one hundred and fifty people before you know, your brain kind of can't handle it. But most organizations are way past that one hundred and
fifty mark, and most organizations are very inefficient as a result. So, you know, I explore in the book about why it is that we have these very large corporations like City Bank, I think is like fifty thousand people or something ridiculous that works, like even yeah, IBM's even bigger, it's like three hundred thousand or something like that. There's what are all these people doing? How do they even you know,
keep up with what they're doing and so on. So the incentives at the corporate level, you know, especially with respect to entrepreneurship and inventiveness and stuff, are all skewed
as a result of the money. And of course, at the government level, there's all kinds of weird incentives at play, mostly around the government being able to print their own moneies, which is essentially stealth taxation, so they can essentially do a lot of things to stay empower a regimes in the past that not and that's ultimately meant a loss of a lot of freedom, a loss of a lot
of property, and so on. And finally, at the global level, you have essentially the dollar hegemony, meaning that there's the world is dominated by the US and the Federal Reserve, and there's a lot of global policy that gets set at that level as a result of the power of the dollar.
So let's break a couple of those down.
So, first of all, it sounds like maybe the big one is that it just sort of changes the incentive structures. And you've sort of maybe lined out a bunch of the incentive structures that it changes sort of throughout that whole process. I guess the ability to print money, fee at money, create money, then change the incentive structure. So you talked about on a personal level, we're not able
to save. So if we think about just that for itself, like we want to work and we want to earn, and we want to be able to save so that we can then use that for future consumption. But when we're not able to do that, then that changes our incentive structure. So what you throughout now we're going into
stocks or one into real estate, things like that. One thing I've thought about in regards to that is that really the way capitalisms work and a lot of the wealth has been developed, is that we have specialization and so I should become the best brain surgeon, and you should become the best physicist or whatever. But because we can't reliably save now, I can't just be the best brain surgeon. Half of my time now has to become
an investor as well. Potentially we've had this massive brain drain that we can't even probably calculate.
But if all of if everybody.
Could have focused one hundred percent on their core specialization, maybe.
The world would have been better. Maybe the world would have progressed faster or something like that.
Yeah, I mean it would be a lot more efficient. First of all, if you didn't have to work for your money twice. I liken it too like a treadmill where you have to run to stay in the same place. And this is that investment portion that you were taughtalking about. If you want to save at all, you have to play this game, and you you were forced to invest more or less gamble in many ways on the markets
in order to keep your money. And uh, you know, for a lot of people, if you think about it, at least in the past, under sound money, the wealth accumulated to the people that provided the most value to society. So if you made a new widget that did something interesting or help people in some concrete way, then you you got a lot of wealth allocated towards you because you were able to sell those goods and services to people and they would give you money, and that meant
that you're a pretty productive person in society. Nowadays, a lot of people are rent seekers, but even if you are very productive and you are able to, you know, gather a lot of money as a result of providing goods and services, well, you can't put as much energy into that anymore. You have to put a lot of energy into keeping your money. So we've taken a lot of the most productive members of society and you've essentially
made them into investors. And I'm sure you've seen this mark where you have a lot of venture capitals, for example, that are former founders. Right, instead of creating new companies, they end up having to invest because they don't want to lose the money that they've made, so they're they're continuously looking for other opportunities and so on.
Wouldn't that be almost like a form of multiplication though, So like they could go create one new company, but if they become an investor, they could help fifty new companies launch.
Well, I mean, I under a sound money, maybe that that would work. On their fiat money. Most of the money that's being invested ends up being newly printed. And because there's no direct pain that you feel. So if you're an entrepreneur, you go, you go and raise money from a bunch of ecs. You're essentially spending other people's money, and you know there's but it's.
Money that they had created previously, right, So that's I mean all the time based investment, right, Well.
It could be, but it's also oftentimes debt based investment. So a lot of the time what happens is, and I'm sure you're you're very well aware of how these games work. Is you say you have like a ten million dollar asset. You have a home somewhere right like you have. You have a ten million dollar asset, You don't want to liquidate it because you think it's a good investment, but you have some other opportunities that you
want to invest in. What do you do? Well, you take out a loan against your house, right, Like you have a ten million dollar asset, can easily get five million dollars. You take the five million that's created out of thin air, and you use that to go invest in other other things. This is how FIAT investment has been for a very long time, is that the rich people can multiply, you know, the the leverage on whatever
wealth they have because they have access to loans. And this is the money that often goes into these venture funds and so on. I mean, this isn't you know, savings from their bank account. It's almost always like some sort of loan or some r play based on the assets that they already have. I mean, once in a while, yeah you do, you do get cash and things like that,
but it's almost always loans. And the people that get the richest are the ones that are able to most effectively leverage so you know hedge funds and you know investment banks and so on. What they do is they get fifty sixty, one hundred x on their money through the shadow banking system. And of course when they win and you know, you get twelve BIPs on a trade, you know that ends up one hundred xing, so that's really like ten point two percent or whatever. And they do that.
Money is free. Yeah, money, the money is free.
You get you get all of these bad incentives and you get you get entrepreneurs that don't that are focused more on getting to sort of like the next level of a company, largely like being unicorns or whatever, rather than actually providing value. Most startups don't make any money.
I mean, Amazon, I think has never paid a divid and then thirty years of history, like what does that say like the entire incentive structure is off because of this presence of newly printed money that can always come in.
If you're just tune in your listening to the Mark Maus Show, I'm sitting down with Jimmy Song, the author of the new book called FIAT Ruins Everything and how our Financial System is rigged. And we're going to take a very short break, but after we come back, I want to find out how it's actually being rigged against us, maybe some things that we can do, and how we can fix it.
We're back with more a minute. Don't go away, beer back, all right, welcome back.
If you just tune in your listening to the Mark mass Show, we're talking with Jimmy Song, the author of the new book FIAT Ruins Everything and How our Financial System is rigged. And we were just talking about how FIAT is ruining everything. It ruins incentive structures, it ruins sort of the balance of power when we go into investments,
we're not on the even playing field. And I guess that sort of then goes into the next point, Jimmy, of your book and the title of how our Financial System is Rigged, and you talked about how before the break.
You were just talking about how you know a lot of these big.
Vcs et cetera, These big investors are using debt, they have access to capital that maybe we don't have. And so is that what you mean, like how it's rigged? Or is it because they have heavier influence I guess the Cantalon effect they have they're closer to the money supply. Or is it that most people just don't understand how the financial system worked, and so if they you made
the point earlier, were forced to play. And so if you're forced to play a game that you don't understand, is that what you mean by being rigged?
Well, I would say it's rigged more in the former sense of the Cantalan effect. So all money in central bank back Fiat monetary system is created through loans. So essentially one way to measure how much privilege you have in this sort of economy is how much access do you have to loans? Right? Like how much can you get into debt? And the weird thing is the richer you are, generally, the more debt you're in, and the more leverage you have, and the more you're able to
get very favorable terms. I was reading that is that a bad thing though, Jimmy, it is because it's all newly created money. Right, So if anytime you have more money coming into the economy, essentially you're stealing from everyone else. Now, the biggest culprit by far is the federal government, and you can tell by the budget. I think the latest numbers say that already this year we're about two trillion in the whole with respect to the federal deficit that
just created this year. But a lot of that money is, you know, like where does it come from. It comes from the federal reserve. It's created out of thin era, and it goes on the balance sheet as part of the federal deficit and so on.
But doesn't matter where the debt comes from.
Right.
So, like Misas talks about two types of credit, you have commodity credit and circulation credit. So commodity credit comes out of my savings. So let's just say, for example, I grew ten bushels of wheat, I sell eight bush of wheat. One of the bushels I'm gonna give to you on credit. Yeah, so now that's that's increased your purchasing power. But it came from my you know, my delayed gratification, if you will, right versus circulation credit is
where money is just created. So there's a big difference in types of credits.
Yes, and that and that that's exactly the difference between BLOCKFIE and unchained capital. Right. Unchained capital it's money that is actually there and it is out of someone's savings, and there's an opportunity cost to that money because the people lending that money out would otherwise have to have the opportunity elsewhere to go get it. Whereas whereas the loans that we're talking about, the cantal On effect, it
has no opportunity costs. It can it's literally created out of nothing, so you you you are able to expand the money supply that way, and that that's how you can kind of measure the bridge that these uh, these players have. And you know, like socially speaking, like why why our Vanguard and Blackrock, why why do they have so much influence over everything? Why why are they able to give ESG and d I mandates to companies? Is
because they have enormous leverage. They have access to loans, and they they they can bankrupt any stock that they want.
They they're used there and they're using everybody's money against it, right, They've taken over the pension funds and weaponize people's money against them. Yeah.
Yeah, And that's that's the thing. If you have access to the money, then you you essentially have a lot of power. So we most people don't have the access that like a black Rock has to shadow banking and one hundred x leverage and things like that. Most people
have very little. In fact, one of the few ways that most people have of get tapping into the monetary spigot is through mortgages and student loans and low and those are two of the places where prices have gone crazy, right, Like you try to attend college or buy a house, they're completely unaffordable. And that's where you're going to feel that inflation the most is where the loans come in.
This is specifically the Cantalon effect and action, because these are the places where people are allowed to take out loans that come from nothing, and the prices of those tend to go up tremendously as a result.
But is this sort of like you said earlier, like we're forced to play the.
Game whether we want to or not. And I hate that. I hate that, Like I drove down.
I remember a couple mons ago, I was driving down my main street here in town, and I did all these shop owners and I just I felt sorry for them because I'm like, they have no idea what's about to happen to them? Most of them don't, right, And where the FED creates all this money and creates this artificial boom, and then they suck the money out and then they create this bust. And most people are caught
off sides on this. And if they don't play the game, if they don't grow rapidly and this time of growth.
They're going to fall d So their purchasing power will be lost.
If they don't grow, if they don't add new locations and buy new trucks and hire new people, they get left behind. So they're forced to play, but if they don't, But if they don't play, they get left behind. So it's sort of like, I think that's kind of what
you're framing up. We're forced to play this game. So if that's the case, I mean, we all have access to the credit and the debt, and so if I need to grow my business, why do you think it's wrong for me to take on debt to add that new location to get those trucks for my crews to go out there and work and things like that.
Well, it's hard to make a moral judgment on a lot of that stuff. But I would say that every time you dilute the monetary you know, purchasing power of somebody that is essentially an observing third party or whatever, I think it's wrong. And the thing is it may be very good for you specifically. It's certainly good for
the bank because they're able to collect interests. The you know, trick of economics is figuring out, all right, what are all of the unseen effects, what's actually going on the you know, it might have seemed great that you got PPP loans, for example, during the pandemic, but what were the unseen effects? So all the business benefited, the government benefited, you know, the people that were your customers benefited. Who lost, Well, the people that lost were the people that were holding
the dollar. And we saw massive, massive inflation. And it's not necessarily people in the US that it got hurt the most. It's people in the developing countries. It's people the orphan in North Korea that's unable to buy rice because prices just doubled in the black market in North Korea. That's who it's hurting. So I would say, yes.
Yeah, that's one benefit that we have in the United States is that because the dollars the reserve currency of the world. Yes, inflation has been very bad here in the US, but it's much worse in other nations, like Jimmy's pointing out, and so we're shipping a lot of that pain overseas, which is why we're seeing so much
pain happening. I mean, there's a bunch of reasons. It's a very very complicated situation, but I think it really comes down to the type of credit, right, so back to that circulation versus commodity credit, and it's a very complicated situation. I think about it like if because of the system we're in, and we're going to talk about how this system can get fixed, and I believe there's a much better version of the system that we have.
But in the system that we.
Have, if home a bunch of homes got built and they need landscaping, well, I want to expand my landscaping business. So I want to go provide value to them by doing their lawns. I need to go buy more trucks to get my people out there. I'll take on credit to get those trucks. But now all those auto workers at Forward that just got their pay raise are benefited because now there's more trucks that need to be built. Right. So it sort of does add into the economy, but
it's all baked on wrong incentives, malinvestment and things like that. Right, So, even though there is incremental gains, the probably cost benefit analysis of it it is that in the long run it probably does more harm than it does good. I guess this is sort of the point that we want to make, and so I agree. It's sort of like what I hear Jeff Booth talk about all the time.
It's like it's hard to understand this new system when we're stuck in the existing system that we have today, and so we're kind of stuck playing a game based off of these rules that we see. But it could be much better and it could be much more prosperous for everybody in this new system. So that's what I want to talk about next. I'm gonna take a very quick break, but I'm gonna be right back with Jimmy Song with more.
So don't go away. We'll be right back, all right, Welcome back.
If you just tune in, you're listening to the Mark Mass Show sitting down with Jimmy Song, the author of the new book Fiat Ruins Everything, How our financial system is rigged, and how Bitcoin fixes it.
Check it out. It's on Amazon. We'll put in the show notes down below.
But Jimmy, so we were talking about, you know, these incentive structures and how we're kind of stuck playing this game, whether you like it or not.
We're sort of forced to play it.
I mean, I suppose you can opt out, but then you just fall further and further behind. But the third part of the title of your book, viet ruins Everything. Our fine system is riggan, How Bitcoin fixed this? Talk about how Bitcoin fixes this. We often throw out Bitcoin fixes everything, I guess, fix the money, fix the world.
But what are you thinking about in this part here?
Well, so what Bitcoin fixes are really the incentives at play. So we have a lot of corrupt incentives. For example, you've pointed out several just in that last monologue there about you know, how we can't really save anymore, so we're forced to become sort of investors slash gamblers, and you know this economy that oftentimes that we don't really understand very well. There's also corporations who are incentivized to grow bigger and bigger so they can get bailouts and
get access to that cantal on money. There's incentives at the national level where every country uses the money spigot to stay in power, and it becomes a very corrupting influence and causes a lot of friction in the entire economy. You get a lot of malinvestment and so on. And of course you have the US domination at the global level, which is the result of the ability to print the world reserve currency. So all of those incentives start going
away as soon as you introduce the sound money. And the beauty of bitcoin is that you don't need systematic change. It's something that each individual can do one at a time.
So instead of you know, having some political action committee lobby for a return to the gold standard and eliminating the FED, you just opt out by buying bitcoin and going on a bitcoin standard and using that as your savings, and by doing that you are no longer susceptible to sort of the whims of the central bankers when they dilute things by thirty percent through more money printing, you're
not affected because your bitcoin is sound. So having that essentially changes things not just at the individual level, but also at the corporate level. You get smaller companies, you get people that are much more like low time preference. You get countries that have to use explicit taxation instead of the stealth tax of inflation. So government has to shrink, and the world isn't dominated by the US, and the US doesn't have doesn't end up engaging itself in wars
halfway around the globe pretty much every decade. Right Instead of that, you have you have nations that are sovereign that can try various things, and instead of corrupt institutions like the World Bank and the IMF, you have countries that are trying their own thing and you know, developing their own economies instead of being subservient to the needs of the Western world.
One of the best things I think about in regards to that is, you know, you talk about the individual level. I want to come back to that, but when you when you think about bigger on the corporate level, but really even like the government level, that ability to print that money allows them to entrench these positions that they have and there's no consequence. And so what we see, unfortunately is just government policies seem to get more and
more stupid, more idiotic. And what I mean by that specifically is doing things that fail and then just doing them over and over and over over again because there's no consequence. And so something that Alex and I wrote in our book, the on Commress Manifesto, we talk about how bitcoin will bring back a system that has a true cost of consequence, and so this hierarchical ladder to success becomes fluid where people don't just go up and
then use money to stay there. If theyre's true skin in the game, if there's true consequence, with a sound money standard, they'll fall and then they'll come to the bottom and make room at the top for new people. And you started to get this like organic process of competition that develops as opposed to governments such as get bigger, bigger, bigger, and continue to print more and more money. And so certainly that seems to be one of the biggest changes.
And you know, with with something like culture, they say it's set from the top down, and so really we need the governments to change and that will sort of change this whole process. But going back to this individual level, Jimmy, you talked about we don't need this power on how to tellusis we can just sort of pull out. We can start with change within ourselves. You wrote another book called Thank God for Bitcoin. You reference that one of
my favorite books. I've gifted it so many times, So everyone listening should check out that book, thank God for Bitcoin.
But I saw this.
I saw this tweet from Pastor Coin came out the other day and he was talking about why he thinks so many people that maybe have come into the bitcoin space have then came into Christianity, and he said, bitcoin is not some spiritual entity or illumination. It's just software running a computer. It's not bitcoin that produces this experience. It's the revelation of objective truth. That's the real rabbit hole. People ask questions like if this is true, what else
is true? And then that typically leads people back to the church in the Bible, where there's truth.
What do you think about that?
Yeah? Absolutely, And the way I describe it is little tea truth always leads to the big TA truth. And the thing about FIAT money is that it is able to subsist on lines, right, Like, the money doesn't exist, it's all based on Okay, we're going to pretend that we have more money even when we don't. Right, This was the original sin of fractional reserve banking FIAT lets.
You sort of suspend reality as much as possible. You alluded to it even at the corporate and national levels, where all these entities use it to stay in power when really they don't deserve it. In any meritocracy they would fail. But in under sound money, what you get are real market incentives and meritocracy winning and so on. The better product wins instead of an inferior product with a lot of regulatory modes and so on. So as
people get into coin, they are essentially slap with the truth. Right, Okay, here is how the actual monetary system works. And the thing about truth is that it's a little bit. It's things a little when you first find out, especially when you find out that you've been benefiting from a lot
of the lies or whatever. But once you get into truth, it really tastes really good, right, Like, because there's so much explanatory power, there's knowledge that you're gaining and you see the world much more clearly, and you can explain things and predict things much better because you have a much better mental model of the world. And really, as human beings, what you want to be able to do is have a good model of the world so you can interact with the world in a reasonable way. And
that's what tastes really good. And I think that's what ultimately leads a lot of people towards the big truth, which is God and you know, phil and metaphysics and all of that stuff, which eventually I think leads everyone towards uh, towards Christ. And and that's that's what we've seen in this Not everyone's, you know, all the way a Christ yet, but I've seen so many people in this space that are on various parts of that journey that are looking at these things and saying, Okay, what
is the basis of my morality? How should I raise kids? And these are all things that you start thinking about when you focus on the long term, when you're when you lower your time preference as you can through savings, through sound money, through a bitcoin.
Yeah, it just makes sense.
I mean we if you just think about this just from an objective lens or just a rational lens, Like we need something to build our truth on, Like we need we need the rock, right, we can't build our house on the sand. We need our We need to build our house on the rock. And maybe if that's the best rock or not, that's a different discussion. But you still need to anchor on something because everything is relative, right, and so if we're comparing one thing to the next,
like what are we comparing it to? So we need that source of truth. And I thought that was a really good article. And I love how you say that the little tea. So the little tea's the little truth that you start building, sort of start adding up and eventually you get to, Okay, what's the big truth that's out there? And bitcoin as itself, as you said, isn't money.
It's just it's a ledger. It's an honest ledger, right, and that's something big anyway.
If you're just tuning, listen too the Mark Mas Show be sitting down with Jimmy Song. He's the author of this brand new book we've been discussing called How FIAT Ruins Everything and financial system is rigged and Bitcoin fixes it well. Link in the show notes below.
Make sure to get it.
Leave them a review on Amazon if you like it, and that's what we got. Thanks Jimmy, appreciate it.
Thank you.