Bitcoin-only director Richard James’ documentary on the recent history of inflation, “Hard Money,” uses stock images and anonymous narrators to weave the film. One of them qualifies the tweaking of the money supply as “the greatest con in human history.” Another one compares the Fed to the Wizard of Oz. The voices are familiar. You feel like you heard some of these clips before. When the credits roll, you realize the narrators were the creme of the cream of the Bitcoin thinkers.
The “Hard Money” documentary could be considered a condensed version of the first few chapters from Saifedean Ammous’ “The Bitcoin Standard.” The first book we’re reading in the Bitcoinist Book Club. In the documentary, you can actually see Keynes celebrating the gold standard’s supposed collapse and saying that the public “must not allow anyone to put them back in the gold cage.” In contrast, you can read Ludvig Von Mises’ quote: “The gold standard did not collapse. Governments abolished it in order to pave the way for inflation.”
Watch the “Hard Money documentary and you’ll be able to answer these questions: Why was gold chosen as the premier form of hard currency? What were gold’s “severe flaws”? What is inflation and how does the government hide it? How breaking the relationship between the Dollar and gold broke the relationship between the market and reality. What is low and high time preference? What does fractional reserve banking create? Why are the institutions that issue debt effectively printing new money?