Decades and decades of people touting the supposed evils of fiat money, and I've yet to hear a single convincing, pragmatic argument for why it is worse than any of the alternatives.<p>We've had the gold standard in the past. During that time, the economy went up and down, just like in the era of fiat. The same is true for countries that backed their currency with foreign reserves. So why is "backing the dollar" such a worthy goal in the eyes of so many people? What real-world problem would that solve?
Well those are some bad policies. I'm assuming he didn't consult an economist. If the Fed decided to back some T-Bills with bitcoin, they would be highly speculative unless fully hedged. That's not why organisations buy T-Bills.
Eventually, the economists will have to recognize that the ecologists are smarter than they are and have a broader view of the fundamental limitations on systems. I.suggest starting with Yale's G. Evelyn Hutchinson (1903–1991).<p><a href="https://news.yale.edu/2015/11/21/ecology-evolution-climate-change-g-evelyn-hutchinson-and-founding-modern-ecology" rel="nofollow noreferrer">https://news.yale.edu/2015/11/21/ecology-evolution-climate-c...</a>