Cryptocurrency and Fiat Money

Level: leicht
Stephanie Kelton | YouTube, 2017

Perspektive: Postkeynesianismus
Thema: Geld & Schulden
Format: Interview, Dauer: 00:04:51
Link: https://www.youtube.com/watch?v=84wTEf9Acik

Based on Modern Money Theory (MMT), Stephanie Kelton compares the cryptocurrency to the fiat money system (or simply what we have today). She argues that the fiat money is backed by the government ability to make us believe the currency, whereas cryptocurrency does not, so its belief is voluntary. In that sense, a national currency would have a backup that would secure the currency value. The cryptocurrency, on the other side, can have its value going to zero.