Oddbean new post about | logout
 Those who tell the stories rule society. The "clueless" economists are FAR from clueless. They know exactly what they are doing.

Fiat is a story they tell and get a large percentage of the population to believe in. So they've got everyone believing in this shared subjective abstract reality, a systemically exploitable belief system.

Peak storytellers are peak predators. People who master abstract power projection are predatory storytellers.

So what do we do to stop them? The answer has been the same for over 5000 years of recorded history. We use brute-force physical power to illegitimize their abstract power.

Bitcoin is merely a brute-force physical power digitization system.

Don't call the people at the apex of the current abstract power hierarchy clueless.. they are predators who know exactly what they are doing. They systemically exploited peoples belief systems to get where they are.