Money is on many people's minds lately. 

Perhaps this is due to the government inflating the money supply by approximately 30% in less than 2 years and the subsequent spike in inflation.

Asset prices have ballooned to new highs and the cost of consumer goods continues to rise with stated inflation at 6.7%!

Inflation is not a problem that is unique to Canada or the US, rather it is a global phenomenon. 

What is going on? Is this reversible? When will it end? Who will pay for all this debt?

The answer is: Your future self, your children, and your grandchildren will pay for this debt! 

How? Through increased taxation, continued currency devaluation, lost savings & purchasing power, reduced standard of living, growing disparity between haves and have nots, increased conflict and polarization in society, political unrest and global tensions.

If you think you are completely insulated from this reality, think again. 

For the past 50 years the world has operated on a Fiat standard. Our “money” has been, and currently is, backed solely by trust in the creditworthiness of governments, particularly the US government, and enforced by government decree backed ultimately by the US military.

“History has shown that governments will inevitably succumb to the temptation of inflating the money supply.”

-Saifedean Ammous

Governments and central banks have total authority to create money (out of nothing) debasing the currency and effectively stealing from those who don’t invest in hard assets and choose to hold cash. We have witnessed governments using this power to win elections, solve their problems, promote their ideologies, and amass greater power - completely unchecked!! - that is, until now. 

As long as people continue to trust that the government will be able to service their debt the fiat money system will prevail… 

BUT, like a house built on a foundation of sand, a fragile system can easily collapse when a crisis arises. Though the house is a complex and well-constructed masterpiece, the flawed foundation will not hold it up. 

One thing to remember about money is that it is ultimately chosen by people - individual actors. People will naturally gravitate to the money that is perceived as the "safest" with time. Thus whatever vehicle the people elect to store their value over time becomes the money. 

I believe Bitcoin is a technological discovery with massive global economic implications and a very serious contender for the role of sound money in the future.

In order for a “good” to be “money” it must have several distinct characteristics.

Bitcoin fulfills many of these characteristics in ways that previous monies like fiat or gold are unable to. 

Find out for yourself. Is it simply a fad or will it reform money and, by extension, society in ways we can’t even imagine?

The resources below may serve to inform your decision. And for those who choose to completely ignore it, remember:

“This is a historical lesson of immense significance, and should be kept in mind by anyone who thinks his refusal of Bitcoin means he doesn't have to deal with it. History shows it is not​ possible to insulate yourself from the consequences of others holding money that is harder than yours.”

-Saifedean Ammous