"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not."
–Thomas Jefferson

Two economists. Two different conclusions.

In the late 1920s, Irving Fisher believed that monetary stabilization could stabilize the dollar and help overcome the business cycle.

Ludwig von Mises did not agree with that approach. In 1928, he challenged Fisher’s monetary views, arguing that artificially low interest rates and credit expansion could fuel an economic boom that would eventually end in crisis.

Fisher remained confident in the stock market even in October 1929. Then came the crash and the Great Depression.

The U.S. National Debt and the debt interest expense as a % of federal budget have been etched into the bitcoin blockchain forever.

• National debt: $40.33T (Oct 14, 2026)
• Interest: 14.9% of federal outlays (FY26)

https://mempool.space/tx/78072b5c5aeb4bd357d203de11b09cf0513d84d544ca658c566bd73b32c598ba?mode=details

Fiat Standard













@Saifedean Ammous