@SpencerKSchiff @maxkeiser Your understanding of my tweet is flawed. Keiser is wrong to label gold as fiat. The key element of fiat is that its value is derived from faith. Even with legal tender status, the market value of fiat can collapse if faith is lost. Like fiat, Bitcoin’s “value” comes from faith.

@SpencerKSchiff @maxkeiser Your understanding of my tweet is flawed. Keiser is wrong to label gold as fiat. The key element of fiat is that its value is derived from faith. Even with legal tender status, the market value of fiat can collapse if faith is lost. Like fiat, Bitcoin’s “value” comes from faith.

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