Part 4/9:
Livingston provocatively claims that fiat currency itself is the true Ponzi scheme. It operates on principles that siphon wealth from the masses, relying on the illusion of value sustained by government assurances. His metaphor illustrates how fiat currency functions: printing money from thin air, generating government debt to cover old debt, and perpetually inflating the money supply while taxing the populace.
He paints a grim picture of fiat—a system designed for perpetual growth at the expense of its citizens, contrasting sharply with the static yet principled existence of Bitcoin. Bitcoin does not require the socio-economic machinations that fiat does. Instead, it functions independently of government whims, embodying integrity and transparency.