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Saifedean Ammous
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The Fiat Standard: Debt Slavery Alternative to Human Civilization Hardcover – November 16, 2021

by Saifedean Ammous (Author)
4.7 4.7 out of 5 stars 943 ratings
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In The Fiat Standard, world-renowned economist Saifedean Ammous applies his unique analytical lens to the fiat monetary system, explaining it as a feat of engineering and technology just as he did for bitcoin in his global bestseller The Bitcoin Standard.

This time, Ammous delves into the world's earlier shift from the gold standard to today's system of government-backed fiat money—outlining the fiat standard's purposes and failures; deriving the wider economic, political, and social implications of its use; and examining how bitcoin will affect it over time.

With penetrating insight, Ammous analyzes global political currencies by analogy to bitcoin: how they're "mined" whenever government-guaranteed entities create loans, their lack of inherent restraints on inflation, and the rampant government intervention that has resulted in heavy, devastating, and persistent distortions to global markets for food, fuel, science, and education.

Through these comparisons, Ammous demonstrates that bitcoin could be our next step forward—providing high salability across space, just like the fiat system, but without the unchecked fiat-denominated debt. Rather than a messy hyperinflationary collapse, the rise of bitcoin could look like a debt jubilee and an orderly upgrade to the world's monetary operating system, revolutionizing global capital and energy markets.
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  1. Print length
    382 pages
  2. Language
    English
  3. Publisher
    Saif House
  4. Publication date
    November 16, 2021
  5. Dimensions
    6 x 1 x 9 inches
  6. ISBN-10
    1544526474
  7. ISBN-13
    978-1544526478
  8. See all details
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Editorial Reviews

Review

"Saifedean's penetrating insight is to explain the operation of fiat by analogy to the operation of bitcoin. In this context, we can think of fiat as a digital currency, like an altcoin, defining its qualities and characteristics and its strengths and weaknesses. Whereas The Bitcoin Standard's analytical framework centered around assessing salability across time, and how it explains the monetary rise of gold and bitcoin, in The Fiat Standard, Saifedean uses the framework of salability across space to explain the rise of fiat and how it replaced gold. Far from a one-sided attack on fiat, The Fiat Standard illustrates and explains the advantages that made fiat's global adoption possible. This framework in turn forms the basis for assessing bitcoin's rise in a fiat world, its security model, and chances of continued success."
—from the Foreword by Ross Stevens


"I have spent my entire career studying works about monetary theory, the gold standard, comparative monetary systems, central banks, and proposals for monetary and financial reform. I would rate a tiny fraction of the books I have read about any one of these topics as excellent. Dr. Ammous's book The Bitcoin Standard contains an excellent treatment of all these topics in addition to one of the few enlightened and enlightening accounts of bitcoin that I have come across. It is essential reading for anyone interested in learning the role bitcoin could play in a future regime of free and sound money."
—Joseph Salerno, Academic Vice President, the Mises Institute, on The Bitcoin Standard


"This book blew my mind; it is a work of genius. It put together the technical, economic, motivational, and related issues around bitcoin better than anything I've seen. The best compliment I can give this book is that I read it and I decided to buy $425 million of bitcoin. It was the most impactful on our way of thinking in Microstrategy, and it made us want to invert our balance sheet to base it on a bitcoin standard."
 —Michael Saylor, Cofounder, Chairman, and CEO of Microstrategy, on The Bitcoin Standard

About the Author

Saifedean Ammous is a world-renowned economist and author of The Bitcoin Standard: The Decentralized Alternative to Central Banking, the definitive and best-selling book on bitcoin, translated to 25 languages. He is also the author of the forthcoming textbook Principles of Economics. Saifedean teaches courses on the economics of bitcoin, and economics in the Austrian school tradition, on his online learning platform Saifedean.com, and also hosts The Bitcoin Standard Podcast.

Product details

  • Publisher ‏ : ‎ Saif House (November 16, 2021)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 382 pages
  • ISBN-10 ‏ : ‎ 1544526474
  • ISBN-13 ‏ : ‎ 978-1544526478
  • Item Weight ‏ : ‎ 1.57 pounds
  • Dimensions ‏ : ‎ 6 x 1 x 9 inches
  • Customer Reviews:
    4.7 4.7 out of 5 stars 943 ratings

About the author

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Saifedean Ammous

Saifedean Ammous
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Saifedean Ammous is an internationally best-selling economist and author. In 2018, Ammous authored The Bitcoin Standard: The Decentralized Alternative to Central Banking, the best-selling book on bitcoin, published in 37 languages. In 2021, he published The Fiat Standard: The Debt Slavery Alternative to Human Civilization, available in 26 languages. In 2023, Saifedean published Principles of Economics, a comprehensive textbook in economics in the Austrian school tradition, published in 14 languages. Saifedean teaches courses on the economics of bitcoin, and economics in the Austrian school tradition, on his online learning platform Saifedean.com, and also hosts The Bitcoin Standard Podcast.

Saifedean was a professor of Economics at the Lebanese American University from 2009 to 2019. He holds a PhD in Sustainable Development from Columbia University, a Masters in Development Management from the London School of Economics, and a Bachelor in Mechanical Engineering from the American University of Beirut.

Customer reviews

4.7 out of 5 stars
4.7 out of 5
943 global ratings

Top reviews from the United States

WisdomQuest
5.0 out of 5 stars Visionary Insight Into the Corrupted Monetary System and the Ruin it Created
Reviewed in the United States on January 14, 2023
Verified Purchase
If you read only two books on economics and money, it should be The Bitcoin Standard, and this sequel, The Fiat Standard. This is a two-book master class on economics, money, and how governments destroyed them for their own gain - at your expense.

You'll get a little background history here (but more in his first book), as he traces the path to today's bubble waiting to explode. Then the chapters on how fiat money has enabled terrible health, bad energy policies, destruction of social relations, etc., is a priceless and eye-opening discussion. If this doesn't impress upon you how important it is to understand and get her head out of the sand, nothing will.

The devaluing of money, the constant "printing" of currency, has made us unwitting slaves to system that claims to be democratic. On the surface, maybe it is, but when you realize what the elite have done to your wealth and earnings, you never support the status-quo again.
14 people found this helpful
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Gustavo lozada
5.0 out of 5 stars Awesome book
Reviewed in the United States on November 15, 2023
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Great book to continue the learning process between fiat and bitcoin. Very easy and accessible reading. I highly recommend it to everyone looking to better understand money.
One person found this helpful
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Ryan Sargent
5.0 out of 5 stars Very enlightening book!
Reviewed in the United States on December 1, 2023
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Five stars for sure. Really makes you think about how things came to be and the possible solutions forward.
2 people found this helpful
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Andrew DeLorenzo
5.0 out of 5 stars Life changing
Reviewed in the United States on November 12, 2023
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Truly the sequel we needed to it's predecessor. Both books changed my life for the better!
2 people found this helpful
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Runy Calmera
4.0 out of 5 stars Great book about cmfiat currency
Reviewed in the United States on March 17, 2024
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After reading the Bitcoin standard this was a great reflection about the fiat system.

Well written and easy to underatand. This should be your fiat 101!
One person found this helpful
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Freedom.
5.0 out of 5 stars Government corruption at its finest.
Reviewed in the United States on April 23, 2023
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The Fiat Standard evaluates how government/elite corruption through monopoly control of the monetary system over the last century has decimated the industries of modern research/acedemia, innovation, food production, energy production, personal savings, and the development of other nations. It will open your eyes. The author went just a little too far on the perfection of meat, but the processed food bashing was well deserved.

Overall I enjoyed this book even more than the Bitcoin Standard.

I would also recommend pairing with “Inventing Bitcoin” (very short), and “The Creature From Jekyll Island.”

Becoming aware of the blatant government/elite corruption that you are not taught in school is definitely worth it.
12 people found this helpful
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Robert Mbsp
5.0 out of 5 stars A Top 3% Book for Serious Readers
Reviewed in the United States on April 10, 2022
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I have ready many hundred serious, educational books over the years. Saef Ammous's two recent books, The Bitcoin Standard and The Fiat Standard would rank in my top 3%. Read them with your eyes or hear them with your ears: They not only will show you that Bitcoin is an invention that ranks with the invention of the wheel, the printing press, and the Internet: Bitcoin has the potential to drastically improve at least 95% of all aspects of life and society. The 20th Century was the century of fiat currency -- government printing of basically counterfeit money in lieu of taxes that citizens would never agree to -- and the century of growing oppressiveness of government, horribly bloody wars, and general collapse of Christian values. These books together show that fiat currency is near the root of all that was bad in the 20th Century, and that Bitcoin can be the way back to quality and sanity in the 21st Century and beyond
11 people found this helpful
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John D
5.0 out of 5 stars Exceptional Read
Reviewed in the United States on February 27, 2022
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This is a MUST read for anyone and everyone who is disillusioned with the current trend of increasing government control over money printing, inflation ‘statistics’, your freedom of thought and expression, and most importantly, your wealth preservation for you and your children and grandchildren.
It was an extremely enlightening and understandable view (I’m an engineer) of how FIAT money works now, how it came in to being, and how it has eroded wealth for everyone except the bureaucrats who control the printing and their already established cronies in the banking and investment areas. BTC is simply a moral and ethical imperative, to eliminate war and violence and bring economic opportunity to the creative, the independent, the under privileged, despite the possible risks involved in moving in that direction. BRAVO Saifedean!
2 people found this helpful
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Top reviews from other countries

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Carson Coady
5.0 out of 5 stars Exceptional Book
Reviewed in Canada on January 25, 2024
Verified Purchase
Saifedean is a master at explaining economic concepts in digestible format for all readers. His ability to think in first principles and describe the functions of our modern economy is second to none.

I found this book incredibly insightful and well constructed. This book is a textbook. I’ve been taking notes and I’ll take the time study them then to get a full understanding. Thank you for your time and research that went into writing and publishing.
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Jose
5.0 out of 5 stars Read before The Bitcoin Standard
Reviewed in Brazil on May 5, 2022
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I highly recommend it. I had big expectations, after reading his first book The Bitcoin Standard, and I could be more satisfied . Nobody can teach and explain Bitcoin then Saifedean. Bitcoin is not a Technologic revolution, it is a economic revolutions, and both Book will teach you more about economic than you expect.

Very well written, it is easy to understand but in the same time complex and it give you all information you need to understand the times we are living in and how BTC is the hope we have to change the wolrd.

Well done Saifedean , I really enjoy it!
3 people found this helpful
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Cliente de Amazon
5.0 out of 5 stars Espectacular lectura
Reviewed in Mexico on December 10, 2021
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Lectura obligada, aún si no has leído The Bitcoin Standard
One person found this helpful
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stefanorago
5.0 out of 5 stars Essenziale
Reviewed in Italy on March 21, 2024
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Ha superato tutte le mie aspettative
Consigliato dopo la lettura di bitcoin standard
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Graffico
5.0 out of 5 stars Completely Awesome Read 🌟🌟🌟🌟🌟🤓👍
Reviewed in the United Kingdom on December 25, 2023
Verified Purchase
Safedean does it again, The Fiat Standard is an absolutely amazing follow-up book to The Bitcoin Standard. The reason being is because the Fiat standard really delves into the detail of how the fiat currency system works as well as its major downfalls, which are not told us by our governments deliberately.

What I really enjoyed about this book was the way that it not only goes into so much detail but also shows in great detail, how bitcoin works, what Bitcoins core features are, and how Bitcoins core features counter the negative impacts of the current Fiat system to ensure it has global free market dominance which has a positive impact for the people who hold and store Bitcoin.

The Fiat standard also talks about the upcoming CBDCs (Central bank digital currencies) and how they are going to impact peoples lives unfortunately for the negative and benefit the government and who the government also chooses to be on the receiving end of the benefit as well. Subsequently allowing government to pick and choose who can move up the social hierarchy more easily.
One person found this helpful
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