Great listen folks!!
Just something I was thinking when listening: I think credit creation IS the source of the problem and I think in Asian countries credit was only created for productive (in the beginning at least) which means the economies actually expanded but in the west, it went into non productive means like housing, cars, general lifestyle etc.
The think 99% of the money supply and the real source of inflation is actually from local banks giving out loans not the central bank. Every single mortgage that someone takes, every student loan, car loan, credit loan is money created out of thin air. These unproductive loans is literally why everything is so expensive.
I was at the grocery store grabbing a few items and at the self checkout, I witnessed what was probably the boldest request I have ever seen: “would like to round up the total cost?” These mfers got tired of asking for donations, they just straight up went “do you mind?”
I clicked no so fast, I forgot to take a picture to capture the moment as I couldn’t believe my eyes.
A great point that was in the episode that I really liked was that fiat was inevitable because as our ability to communicate faster evolved, gold became more and more a technology of the past. Which is why an invention like “digital gold” is the obvious next evolution that money needs to make in the digital age!
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I am listening to Peter schiff’s Tucker Carlson episode and I’m really scratching my head on this one.
I’m really open to someone who doesn’t like or agree with the Bitcoin promise, what I don’t understand is, isn’t Peter schiff supposed to be the gold guy? The Austrian economics guy ?
His arguments against bitcoin sound like he doesn’t understand the current monetary system, let alone Bitcoin, and very suspiciously Keynesian, I just have believe he has to be troll. Just the statement “they made a lot of money investing in early” really throws me off. I don’t even care if he hates bitcoin, but the way he talks sounds like he doesn’t really believe in or not understand the Austrian Econ at all.
Exactly one year has passed since I first joined Nostr, I remember being so confused to what a zap was and I had to go through YouTube videos to figure it out lol
I am slowly realizing that I’m not really a bitcoin maxi, but an Austrian school of Econ. Maxi. If someone can tell me a form of money that is superior to bitcoin, I’m all ears! The one thing that will always stay contant, is my opinion on how money should work and how society revolves around it.
This is Jeff booth’s point as well. I actually think bitcoin with AI can advance human civilization into Type 1 or even 2 civilization.
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