Bitcoin Wins

27 Sep 2023

Peak Fiat

Listening to the most recent WBD podcast, I couldn’t help but think about George Gammon and the insistence that people will run to an inflationary environment to solve problems and kick the can down the road. We live in a very interesting time. We are at peak fiat and it seems it’s only a matter of time before the wheels fall off. This is anecdotal, but even my mother in law who is selling her house right now understands that we are in a bad economic situation and the the current system is rigged against the common pleb. She’s in the midst of a divorce and is having to sell because at a 7-8% refinance rate on a mortgage simply can’t afford to service the new payment.

My family moved into a property a few years ago, locked in a 2.5% interest rate and couldn’t service the same at 7%. It’s crazy, right? Talking to my father about when him and my mother bought a house and got financing at 12%, how it wasn’t great, but doable. This folks is peak fiat. The money the US Government issues and makes us use, doesn’t work for us anymore. It’s only held in because of it’s reserve currency status, and that does enable a certain level of financial privilege, absolutely! But that is nearing the end. It could be 5 years, it could be 20. I don’t really know, nor care to be honest.

We live in a world where fiat has peaked, and I believe bitcoin will win. I agree we are still early, and I think there is a lot of opportunity for those of us in the know about what type of freedom and change that bitcoin offers.

Stack those cheap sats.