As if academics could have invented Bitcoin.  

Logic stands on its own. Authority has to rest on valid logic. Refute my logic. Afaics, my logic is consistent with Adam Smith to the extent that his body of work is applicable.

There is always extensive fraud in unregulated fractional reserve banking. The banksters game it and force a default on the nation as they did in the USA. Academics live in glass cathedrals and not in the real world.