What we’re talking about here isn’t your everyday money laundering; it’s civilization-scale laundering facilitated by central banks. This isn’t some small-time operation; it’s legalized crime on a global scale. Banks pack their balance sheets with worthless securities, then cry for bailouts when the jig is up. It’s a classic con, and it’s happened worldwide numerous time, from small to large countries, and always propped up by the fiat system. Without fiat’s flexibility to, let’s say, ‘creatively manage’ economics, this kind of scheme becomes a whole lot harder, if not impossible.

Bitcoin fiat? That’s way off base. No serious analyst would lump Bitcoin in with fiat currencies. Why? Because fiat currencies are backed by government decree, used for tax payments, and can be issued ad infinitum by central authorities. Bitcoin ticks none of those boxes. It’s decentralized, with no central authority to pump out new units or demand its use for official transactions. Bitcoin is as far from fiat as you can get.

Regarding the Bank of England’s founding in 1694—let’s get our facts straight. It wasn’t about credit; it was about waging a war without the cash to back it up. This move marked a turning point, expanding the empire and cementing the British Pound as a reserve currency. This kind of dynamic isn’t ancient history; it’s alive and well, fueling today’s massive military expenditures. These are bankrolled by the fiat system’s ability to inflate currency and issue debt. And when fiat currencies collapse? It’s usually the losers of these conflicts who feel the burn. So, yeah, Bitcoin offers a real alternative to this endless cycle of warfare and financial manipulation.

Fiat currency is an excellent mechanism for stealing wealth from a population without them realising (well realising who took it at least). Each time they create credit (i.e. print money out of thin air), they don't create value, they simply dilute the value of the money supply across more monetary units. The value in the newly printed "credit" comes from the existing money. That's why prices go up endlessly. It's not the value of things we buy increasing, but the value in our money leaking away into the money they are creating. The reality is that value of most consumables (food, electronics, cars, toothbrushes etc) is going down year on year by ~5% but by increasing the money supply by ~7% each year, we actually see prices increase by ~2% average (CPI).

It also distorts other fundamental signals like GDP. Devaluing the unit of account by printing money makes the GDP figures go up because you're measuring it with something that's going down in value. Looking at the USA and accounting for money supply increase, it has had falling GDP for decades.

Money is proof of work, or it should be. To create it should take as much work as it's worth (this is true for both gold and bitcoin). In reality, fiat is proof of work for the population, while the bankers have a free money spigot. They can pour trillions of it out of nowhere with a few keystrokes and then charge interest on it for decades to come, as if it was their own money.. It gives them undeserved, unlimited power.