Table of Contents 0. Introduction……………………………………… 1. The Promise of Bitcoin & Crypto……… 2. A Brief History of Bitcoin…………………… 3. Bitcoin as a Store of Value…………………. 4. Bitcoin as a Payment Network Promise 5. The Bitcoin Adoption Curve Tipping Point…………………………………………………. 6. Bitcoin Environmental Tailwinds………… 7. Looking Ahead For Bitcoin – Bitcoin Defi…………………………………………………… 8. The Threats Facing Bitcoin………………… Introduction Welcome to “Everything You Need To Know About Bitcoin For Newbies”! This book contains the full text & images from the Max Wright “Contrarian Dude” channel’s 8-part video series on Youtube ( which can be found at ( www.youtube.com/successcouncil ) . It contains a complete crash course on Bitcoin, Lightening Network, Defi, Crypto in general & everything in between. This book is meant to be a fast overview of the space for those entering into Crypto as “newbies” – by the time you finish this book you will be more knowledgeable about the Bitcoin space than 90 % of people in Crypto. You can find more information and resources at the following: Website – www.successcouncil.com Youtube – www.youtube.com/successcouncil Discord - www.successcouncil.com/success-squad More Info - www.successcouncilfoundation.org Chapter 1 - The Promise of Bitcoin & Crypto- G'Day! Max Wright here and welcome to "Everything you need to know about Bitcoin for Newbies". Now, the truth is you're going to learn everything about the cryptocurrency space here. It's not just for bitcoin and it's not just for newbies. There is a lot of advanced material here. But here's the powerful thing about this series. If you want to learn about cryptocurrency and Bitcoin, and you start clicking around reading articles and stuff, you're going to drive yourself crazy because there is so much repetition. But when you're in a series like this and its' all planned out - there is no repetition. You are going to become one of the most knowledgeable people on the planet about Bitcoin and Cryptocurrency. This is just going to be an incredible opportunity. Now, let me share with you what we are going to talk about in this series. Actually - before we do, I feel like I should let you know a little bit about myself. In case you don't know, I first bought Bitcoin in 2012 & I've been involved ever since then. In fact, in 2013 I had the highest selling book on Bitcoin in the Amazon store. So, I hope I am a good guide for you and a good teacher in this environment. So let’s have a look what we are going to cover in this video series. To begin with we are going to talk about the two promises of Bitcoin, and I think it's a really useful way to look at bitcoin through this lens. There are two primary promises and over the time there's been a little bit of an “ebb and flow’ of how those promises have panned out, but it's a really good way to understand what's happening with bitcoin. I'm going to go through a very brief history about what has happened in Bitcoin & how it's gotten to where we are. The reason we need to understand the primary purpose of this video series is to help you understand it from an investment point of view. And I think you really need to understand the history of bitcoin through the lens of those promises. It really gives a shine to what has happened in the Cryptocurrency space today. Now, the primary promise is that Bitcoin is a censorship resistant store of value. Okay, we are going to go deep on that in this section & we will get to that in just a moment. The Second promise is that it is a worldwide digital free instant inclusive payment network. We are going to do a deep dive on the two promises of Bitcoin in those two sections & I think you'll have a really good appreciation of why this is such world changing technology. Next we are going to have a look at the adoption curve. Possibly you've already heard of the adoption curve, but we are going to have a look at where we are on the adoption curve, where is cryptocurrency, who's using it, what are they building on top of it? Things like that. You'll have a very clear indication of where this is going to be in just a few years and that is WHO is adopting it as well. We are going to talk about the “Environmental tailwinds” of Bitcoin and a new promise. So, I have never included any environmental concerns whatsoever in regards to bitcoin but a few months ago Elon musk threw that in the space. And suddenly there were environmental headwinds for bitcoin that lasted for about two months. But what was incredible that came out of it was that an actual fact is the incredible environmental tailwinds so much so that I would suggest that Bitcoin now has a third promise that no one has ever considered. It's a very, very exciting topic. Next we are going to look forward, we are going to look over the horizon at DEFI. So, we've got this concept of Bitcoin, it's layer one, it's money. It's a great store of value, you can make payments with it. Okay, cool. But let's look at the decentralized financial networks that are being built right now that are going to take over Wallstreet. They are going to replace so many industries it's just going to absolutely blow your minds once we get into that. You'll get a good understanding of what's happening in the future. And we're going to take a look at the threats to Bitcoin. Not just Ethereum, not just the alts. We're going to look at all of the threats to the Cryptocurrency world, and we're going to deal with those first because they apply everything, both bitcoin and alt coins. But then we're going to take a look at Bitcoin VS alt coins? We will take a deep dive on that in that section. You will really understand the kind of landscape what's happening there. Finally we're going to finish up with "Where could the price of bitcoin can go?" . As I mentioned at the top, the ultimate purpose of this video series is to turn you into a bitcoin and cryptocurrency expert, Yes, but I want you to understand the investment thesis of that. Is this a place that you can make money? If so, how much? This one is going to absolutely blow your mind and hopefully get you very, very excited and answer the question that EVERY single person has to ask when they get into this space. That's "Am I too Late?'. Have the millionaires of bitcoin already been made? Am I just too late? We are going to answer that one. Alright let's start it off. And it's a high level - What are the two promises of Bitcoin? You know we will go into them a little bit deeper, but let's just start off here. Promise number 1 is to be the most trusted and censorship resistant store of value yet. Let's look at the words "store of value". Store of value is probably the most important thing in all of economics. It's what makes it so we're no longer bartering. When we barter - I'll give you a pot and you give me a pan - I've got to find someone who trades and both sides of the trade happen instantaneously. Okay, with a store of value (once upon a time it was gold ) I could buy the pot from you and give you a gold coin or a silver coin and I have a voucher here. It's a voucher for the future that I can store my value in it and with this I can go around and "buy". And it takes us from a barter world, to the efficiencies of having money. The store of value thing is extremely important. it's the most important thing in economics I would say. And we have a problem with it right now. Governments all around the world are printing their money. Which means they're debasing it. And they're stuck in a cycle that they're going to keep on doing it forever and ever. And the paper money that we use - putting money in the bank - is no longer a good store of value. And as long as we're here having a superior store of value, how about we make it censorship resistant? You will really understand how and why that is unbelievable important. So that is promise number 1 - the most trusted and censorship resistant store of value yet. Promise number 2 for bitcoin is that it needed to be ( and promised to be ) the fastest and cheapest payment network yet. So, we live in a digital age, and we need to transact with people all over the world now. There was no native currency for the internet until Bitcoin came along. And now suddenly, there is. We are in those early stages, growing through all of those issues and making it a complete system that the whole world is going to want to use and we are on the doorstep of that right now. So, bitcoin has promised to be the fastest and cheapest payment network yet. For a brief period there, it kind of failed on this promise and we are going to understand that a little deeper when we go through the history of bitcoin looking at it through these two lenses. We want to do that so we understand - bitcoin has gone up a lot in value. Has it gone up because of both these promises or one of these promises? Is the other promise about to be fulfilled? We are going to understand that next. Chapter 2 -A Brief History of Bitcoin- Now I'm going to talk about a brief history of bitcoin through the lens of those two promises. So, let's get to it. Bitcoin was invented by Satoshi Nakamoto - a pseudonymous inventor or group of inventors in the year 2009. A lot of people ask the question “Why do we not know who it is? Isn't it weird that we don't know who it is?" I think before the end of this presentation you will understand why that was done and I think if you had been the one who had invented bitcoin you would wish to remain anonymous as well. Because you're taking power away from some very powerful people and putting it in the hands of people who are not very powerful. You're putting it in the hands of the average "joe blow" and so you would make some very powerful enemies with the invention of bitcoin. You'll understand all of that before the series is over. Next, what is bitcoin? It is an open source, immutable and decentralized platform. So, let's go through those, it's very, very important to understand. What is open sourced? For those of you who don't know, open source means that the code is freely available for everybody to see. When you buy an application like when you buy Microsoft word or Microsoft PowerPoint - you get a program that works but you can't see the code. You don't know what it's doing in the background on your computer because you cannot see the code. Bitcoin is open source - meaning you CAN see the code. Anybody can go and view it. There's been millions of pairs of eyes on it so although I can't code, I have complete faith that it does exactly what it says it does do because millions of pairs of eyes have looked at it and any one person could say "Nope - see this little tricky code back here? It doesn't do what it says it's going to do". So, this has been extremely well vetted because it's open source. That means we can trust it to a very, very high degree. The next is immutable. Now, immutable means the same over time. This is powerful especially in the world of money and finance. Because in this world we have a situation where promises are broken all the time. In fact we just had the 50th year anniversary of one of the biggest breaks of promise ( or betrayal, some might say) in the history of world finance. The world reserve currency ( the US dollar ) from its existence was promised that any time you show up with the US dollar, you could hand it in to the treasury and they would give you an amount of gold proportional to your US dollar. It was a claim on real gold. That was the promise of what the little piece of paper called US dollars was. In 1971, Nixon closed the gold window and said, "We are NO LONGER going to honor that promise". So US Dollars and other fiat currencies - they are NOT immutable. They are subject to the whims of men. And men can change their minds. They are subject to the whims of governments. Governments backed up by armies. They can change their mind, they can break their promise and there's nothing you can do about it. With bitcoin, you have certainty. It is immutable. It will do what it does for all time, and you can bank on that and trust that. So, it's open sourced- you know what it does. It's immutable - it's going to do it forever. And you now have a lot of certainty and security in the world of your store of value and your payment rails. Very, very powerful information. The world's never, ever seen anything like it and as later in the section we talk about the deep dive on those promises you will really understand how that has affected the world. By the way, pretty much everybody I tell this story to they always say it's the most fascinating history lesson they've ever heard. It is a fascinating piece of history you are going to learn - and it's something that's not taught in schools and it's not taught in colleges so unless you've gone out of your way to learn it before now it's something that you probably don't know. It effects your everyday life in such profound ways and the history of it is fascinating. The final word here is Decentralized. And this is really leaning towards the concept of censorship resistant. So, decentralized is really makes for a robust system and something that cannot be shut down. The best example I can share with you is if you remember back in the day, there used to be a little company out there called “Napster”. What they did was they just allowed you to download any song you wanted to for free, on the internet. The problem with it was that it was centralized. There was a big room somewhere with a handful of servers in there. The government came in and unplugged it. Now there was no longer a way to download Napster. Now this was anticipated by a whole bunch of coders and what they had built (and it was released the next day) was something called “BitTorrent” and other kinds of services like that. And what it was is it was the exact same concept as Napster - but it was decentralized. Meaning instead of there being one big room with a whole bunch of servers on it, there was computers all over the world with songs that were replicated on it. If you wanted to download it - you didn't download it from just one computer. You downloaded a little bit of the song from thousands of computers all over the world. This made it decentralized. It was in different countries, it was in different jurisdictions, it was all over the world and even if you sent out a thousand police officers to grab those computers and destroy them, the very next day someone could put that same song on the network, and it could proliferate through the network with thousands of copies. This concept of decentralization is what makes Bitcoin censorship resistant. When something is decentralized it is extremely robust and it means it doesn't have single point of failure. If one server goes down it doesn't matter - there's still 999 copies of the thing elsewhere. So, it makes it robust, it means it's always going to be there for you. And it makes it impossible to kill. A very important component of Bitcoin, which again you'll understand a lot more clearly in the next section. Something worth noting is that Bitcoin originally solved it's two promises. At the very beginning; you could buy up your bitcoin and you could hold bitcoin and its value ( although volatile we will come to that a little bit later in the presentation ) , over a meaningful period of time- I'll give you an example - over the course of a four year period there is not a person on the planet who bought bitcoin, sold it four years later and LOST money. It held its value. In fact, it massively outperformed and has been the best investment on the planet. Nothing else compares to the return on investment that bitcoin has had. But the main point is that it held its value - it was a successful store of value over meaningful amounts of time. Yes, it goes up and down in the short term but over meaningful amounts of time it holds its value and it delivers on its promises. Now the other promise that it had was as a free, instantaneous transfer of these coins to anyone, anywhere in the world. And it did that very well at the beginning. So, at the beginning it delivered both promises. But, in 2017 bitcoin had some scaling issues. It basically hit its limit of what the network could handle. Now this was a problem that was anticipated for quite some time, but what it meant was that it began to fail at promise number 2. It was still being an excellent store of value, it still held its value over a meaningful amount of time. But sending money suddenly became expensive. Sure, if you were sending a million dollars or even a thousand dollars, the fees for doing so were in the order of 3 or 4 or 5 dollars. And that was still way better than transferring money via swift system or paying international wire fees or even paying domestic wire fees. So, it was still good, but it wasn't delivering on its promise of free and instant. It was still instant - but it wasn't free transfer of wealth all over the world. It did that because it started to slow down because the network got clogged and in order to get your payment through you needed to effectively bribe the miners of the network. We call them miners, they are the people who preserve the network, keep it secure and let it run. They're the people that have the servers in their houses, in their basements, in their data centers, wherever they want to have their servers. They are the 1000s of servers all over the world that keep the system going and keep it decentralized. We call them miners. So there was so many transactions wanting to be used, you actually had to tip them money and say “please include my transaction" to get it through the network. Now, this was anticipated, and it was certainly undesirable from the user perspective, and it was also anticipated for many years. We knew bitcoin would get to these scaling issues quickly. And here's where the history of bitcoin becomes quite interesting. So in 2017, we hit those scaling issues and there had been two big camps of people who had two different solutions, with two camps behind them. One was to increase the block size; we will breeze over that. And the other one was to say "We're going to create something called a “Lightning Network”. And it's going to sit on top of the bitcoin network. And it's going to allow us to scale significantly." Well these two camps had a bit of a back and forth and they kind of had a little bit of a hissy fit here and there and what happened was Bitcoin actually splits into two. The Lightning Network ( with the majority of people ) saying "The solution that we are going to implement is called 'Lightning Network' and we're going to call it Bitcoin, and some people were so passionate about their solution they said "Alright we're going to break away over here and we're going to become something slightly different - we're going to be called "Bitcoin Cash" and we're going to do our solution over here". And this created a whole bunch off problems in 2017. Now it's interesting- Bitcoin has a four-year cycle. Well, it has had to date, it's debatable whether that four-year cycle will continue but to date for very good reasons known as the halving. Every four years bitcoin goes through a massive run up. It did it in 2013 - went up 100x in the year 2013. Bitcoin did it in 2017 - it went up 100x over 2016/2017, but JUST in the year 2017 it went up 20x. And now we're in the year 2021 and you've seen just a big run up and I think we're just halfway through it. I think we are going to see some astronomical numbers from bitcoin in the near future. 2013,2017 and 2021 - it's the four-year cycle playing out as predicted. And so, 2017 cycle was I would argue somewhat muted. I think it really got hurt by these scaling issues that we had during that time. But the reason I bring it up here and want to share it with you through bitcoin's history is that for a period when the bitcoin network said "Okay, we're going to adopt Lightning Network" and everybody understood at the time that it was going to take somewhere between 2 or 3 or 4 years to build all the infrastructure, build all the things on top of it that really make Lightning Network work. All of the applications that will sit on top of it, it's going to take a little time to build. So basically from 2017 to really the end of 2020 - bitcoin was failing on one of its promises. It was ONLY a store of value. It was still a payment rail, but it wasn't free like it was once promised. And since now 2021 lightning network has really matured, come to the fore and once again done correctly bitcoin is free and instantaneous money transfer all over the world. And we had this massive run up in price even though it was not delivering on the second of its promises. I think that story is going to play out as we look further into the future and look at who's adopting bitcoin and things like that. We will understand the reasons they're adopting it because just in the last 6 to 12 months - the lightning network has matured, and we can really see the payment rail promise starting to come back. So, we will talk more about that in the future. In 2021 the lightning network matures and explodes in popularity but it is STILL just a baby. But it is growing exponentially and that's something exciting to understand from that perspective. Now both promises are once again fulfilled and they're even better than before. So, before the Bitcoin transactions used to be free and we used to say you'd have to wait about 10 minutes and an hour for final confirmation that your transaction went through. There were kind of minimums to it didn't make sense to do it with too small a sum. But with the invention of the Lightening network it is even better than it was before. it is completely free. Bitcoin transfers are actually instantaneous, you can take confirmation in seconds. It is just better than everybody had ever hoped. Chapter 3 -Bitcoin As a Store Of Value- Bitcoin's primary core promise is that it is a store of value. In this section you're going to learn one of the most fun parts of history, it's a little-known part of history it's not taught in schools it's not taught in college, but it is the history of money. We are going to do it briefly and it's the most important thing there is that money is one half of every single transaction on the planet. If you go to your job, you're trading your time for money. If you buy something at the garage sale you are trading your money for whatever it is that you are buying. You are always trading money for time, money for services, money for goods. And so that's why when the government wants to kind of manipulate the economy the most powerful lever, they have is that of changing the interest rates. That's changing the price of money. So when money is broken, when money is not efficient, when money is not sound, when money is corrupt, when anything is wrong with money it is the single biggest factor in all our lives. It changes the economy; it changes our personal standard of living. It changes absolutely everything. There are social things that happen as a result of that. And so, it's unbelievably important and if there is something wrong with money that it gets fixed. That is what this section is all about - fixing what is broken with our existing system and how do we fix it and why is bitcoin important in that role. So let's go ahead and get into it. I think this is probably the most powerful chart that I have ever seen in my entire life. If you really, really grasp what's happening here in this chart, your whole world changes. Again, this is not taught in school, it's not taught in college. But it is the most important thing that you'll ever learn. We see here a graph, there's two lines on it. The yellow line is the growth of productivity of the average worker. So, every year there is new tools invented, new ways of doing things, new management systems. We get smarter and smarter as a society and our workers get more and more productive. So, over time up and up and up - we have the productivity of workers increasing. It's been that way forever. Now, the red line shows the compensation for the average worker. What the red line reveals is that once upon a time, when the big bad capitalists and the industrial revolution , he bought a new factory and just crammed all these workers in and back then it was like children who were 5 years old and 6 years old and 10 years old, going to work in these factories. What happened was that as new inventions came along, even though maybe only the factory owner could afford the steam engine. Even though the very richest of societies could afford the tools that increased the productivity of workers, what happened was through a whole bunch of different mechanisms and the free market - the quality of life of the workers also increased, right? As the productivity of the worker increased, the compensation in real money went up. Through some mechanism or another, somehow it trickled down to the worker. Even though it was the factory owner who owned the tools, nonetheless the quality of life of the average worker went up. Until 1971 / 1972. What happened in that era? As I mentioned in a previous video, In 1971, Nixon closed the gold window. What does that mean? It means that prior to that date the amount of money that the governments could print was fixed. As only as much gold as they had could they create the money. When you had a US dollar note, if you had it, that was a promise on gold sitting in a vault. You bring in the paper note and say, "Here's my dollar give me my gold" and you take your gold. It was a promise for gold. The only way to expand the money supply, to print money, was to go and do the dirty hard work of mining and digging up the gold. You do the digging and get the gold and put it in the vaults and now you can print more money. This is said to be a sound money system. Money is considered sound because it cannot be at the whim of a government at the stroke of a pen. The supply of money cannot just be changed. In 1971, that is no longer the case for the worlds reserve currency, the United States dollar. Nixon closes the gold window and now governments can print money at their leisure. They vote on it and just decide "Let's go and make more money" and this creates what is inflation. It's important to understand - this creates what we call inflation. Inflation is actually inflation of the money supply. The moment they create the money, the inflation has occurred. We then measure the inflation by how high prices go up. As prices go up, we measure that inflation. But in today’s vernacular, we say the inflation IS the rising prices. That's not actually true. The inflation is the inflating of the money supply like a balloon it gets bigger, in inflates. The money supply is getting bigger that's when the inflation occurs. We measure the inflation by higher prices, okay? Now, why is this chart so revealing? Why is it so telling? When money is not sound, the average worker does not get to participate in the technological advance of the day. As new technologies are created, productivity increases. Without sound money, the worker doesn't get to benefit from that. And that creates this massive divide. A massive, wealth divide. And that is why you'll see in certain totalitarian countries and things like that where they have been doing this the whole time, there is the biggest gap between richest and poor countries. It's usually the socialist, communist countries with totalitarian rule. Where the rich and the bureaucrats are the richest (as they get to print the money) and the workers they just stay very poor. That's just typically how it works, right? And it's all revealed right here in this very elegant chart. So for a lot of people, (I would say I would be one of them) the wealth divide and the growing wealth divide causes a big problems in society. This fact is hidden from most of us. So, people are running around like chickens with their heads cut off, advocating for things that actually make it worse. Free government programs, free this for poor people, free that for poor people, higher minimum wage. All of these things actually exacerbate the problem and actually make it worse. The thing that fixes the problem is actually very simple and elementary. We just need a sound money. Then, the quality of life for workers goes up. Now, I want to help you quantify just how bad this graph is. This happened in 1970 and almost with barely any movement, for the following 50 years every technological advance, every invention since 1971, the benefit of that invention has NOT gone to the average worker. I want you to think about that and conceptualize that. It is mind blowing. The invention of the internet hasn't helped the average worker. The invention of the cell phone, of the digital camera, of the fax system, of email, of the millions of inventions that have happened in the last 50 years, NONE of it has benefited the average worker. That just blows my mind. Go and watch a 1970s sitcom or a 1970s movie. It's barbaric - there's no dishwashers in the houses. Women are outside hanging clothes on the line, there's no dryer. It's primitive. Every single invention in the last 50 years, the value of it has not attributed to the worker because of a broken and corrupt monetary system. That is mind blowing. Absolutely mind blowing. As you'll come to see what's happening is, that it is being stolen from the average worker and concentrated in the hands of a very small, privileged class of people. We are going to go and check out and understand how that works. So, understanding the gravity of the problem- money is half of every transaction in the world. When it's broken, it is a big deal. What is inflation? Inflation is the printing of the money supply but let's understand that at a deeper level. To really understand inflation and how it works, how this theft occurs, remember the wealth from every productive advance since 1970 has been stolen from the average worker. How did it get stolen? Let's understand that. I'll do this a couple ways. When you counterfeit, you're printing up money that didn't exist. And it's illegal. You'll go to jail for doing it. For very good reason. People think the reason is that you're getting something for nothing. "It's not fair that you get something for nothing when I have to work. You have to work" That's not true. It doesn't get punished because you get something for nothing. You're getting punished because it is theft. But it's a hard theft to see. What's happening is when you print up money, what you're doing is you are stealing a little bit of purchasing power from everyone. The money that everybody else has is becoming less valuable by the exact degree to which you created the new money. To help understand this it's useful to take an extreme example. Let's say we live in a village; you and I are the only two people in the village and this village just has two commodities- and money. We will call it gold money. I grow bananas and you grow strawberries, let's say. And I've got 5 gold ounces and you've got 5 gold ounces. And every year we just use that to trade. It's like "Hey I want Bananas today. Do you want Strawberries?" "No, I don't want strawberries" "Well, we can't barter. But I'll tell you what. I’ll give you a one ounce gold coin for this that way you've got more gold and you can use that gold to buy the bananas off me back off me at some later day". Okay, what happens if I find a gold mine? And I had 5 ounces, you've got 5 ounces. All of a sudden, I find this gold mine and I find 5,000 ounces of gold there. I come back over here, and I say "Hey dude, I am starving for these strawberries. I'll give you 5 gold bars for all of your strawberries, everything you've got" So now, I've got all the strawberries and all the bananas. He's like "Oh cool, I look forward to spending this next week to buy some of the strawberries and bananas back". Okay, he comes back next week and says "Hey I'm ready to buy. I've got 10 ounces of gold to buy some strawberries and bananas back". You're like, "Actually I've got 5,000 ounces of gold here and your 10 is pitiful and pathetic and I don't care. So, your gold here, can't buy these bananas. I'll give you half a banana for ALL your gold". What's happened there, is that economy went into hyper-inflation in one transaction. The gold became worthless because of all this new gold that came into the system. That is what hyperinflation is. He had 10 gold - but the purchasing power of it was stolen. I didn't steal the GOLD. He still has 10 gold. It's there. Another analogy to really help this sink through. I like to think of a big pot of soup, it's a nutritional soup lots of vegetables in it. It's great. Some person steps in and grabs a bowl out of it and drinks the bowl of soup has a very nutritional meal, fills up the bowl with water, tips it back into the thing so now the soup is just a little bit more watered down. Each person in a "soup " line does this, they all have a drink with the soup, and they all fill it up. Each person gets a little less nutritionally useful meal. The person at the end of the line, he ends up with just a bowl of water. There's no nutritional content whatsoever, but he STILL has a bowl of soup. The reason is the value of the soup was stolen by filling it up with water, alright? So that is the concept. Inflation is when you put 100 dollars in your bank and you come back 20 years later and the 100 dollars is still sitting there, but the purchasing power has been stolen. It buys less. That's why your grandma probably paid 5 cents for a gallon of milk but now you pay 5 dollars for a gallon of milk. The purchasing power was stolen even though the money was still there. You had 5 dollars in the bank account, it's still there, but the purchasing power has evaporated. Now, it didn't just disappear. It was stolen by the people who printed the money. And that is the magic concept. If you were to counterfeit money, you are stealing the purchasing power from somebody else. It's a theft. That is why it's illegal. Tell me if you were wearing a suit and someone (a
Enter the password to open this PDF file:
-
-
-
-
-
-
-
-
-
-
-
-