103.5 Lesson - OtherIssues

Screen: OtherIssues

Headline: OK, fiat money loses value over time. Are there other issues?

Reward: 4

Text: Yes, there are many other issues that exist with modern fiat money.

First, it can be extremely difficult to move money around the world. Often, governments will outright restrict the movement -- and sometimes even confiscate money -- without a valid reason or explanation. And even when you can send money, high transaction fees make it very expensive.

Second, even in the US, there has been a complete loss of privacy, as the majority of commerce takes places with debit and credit cards, as well as online with other systems such as PayPal and Apple Pay.

Ever notice how an ad appears in your social media or Gmail just moments after searching for a certain product or service? This is known as “surveillance capitalism”, and is based on companies selling your personal financial data.

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QUIZ

Question: What are some other issues that exist with fiat money?

Answer: Money is difficult to move around the world, and can also be surveilled.

Feedback: Correct. We will explain more about these issues in subsequent quiz modules. Keep digging!!

Correct: true

Answer: Money is no longer needed in the 21st Century.

Feedback: Wrong answer. You know that is not true.

Correct: false

Answer: Money is the root of all evil.

Feedback: While some may believe this to be so, it is not the answer we are looking for here.

Correct: false