How much economic ignorance can you fit into 1 minute and 54 seconds? Well apparently its quite a lot. Peter Zeihan confidently embarrassed himself on Joe Rogan's podcast recently by going on a short rip regarding Bitcoin's negative value and how a reliable, fixed money causes economic disaster but the inflated, debt drowned political currency is more valuable. And how counterfeiters have rightfully earned the wealth they steal, but savers gaining some purchasing power as the economy grows is "unviable."
We dive into a short clip of Peter Zeihan and take it apart, piece by ignorant piece, in today's Guy's Take episode. Strap in.
Here are the links to so many other reads for diving further into these economic ideas if you want a deeper understanding. All highly recommended:
No Bitcoin Has No Intrinsic Value, and that's great!: https://open.spotify.com/episode/0EyuzhpYZRR5TimBl28Ngw?si=f5223cb0872545f9
Another Way to Think About Bitcoin's Value: https://open.spotify.com/episode/5d8O5XztARIi0eI7lYMmSN?si=8c89c2cf2c4a4f0a
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World Hyperinflations: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2130109
When Money Dies: https://www.amazon.com/When-Money-Dies-Adam-Fergusson-audiobook/dp/B004FU1028
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Trusted third Parties are Security Holes: https://open.spotify.com/episode/21iWPjbJrRfZb3sBUb6zkD?si=c5946f4f85984745
The Dawn of Trustworthy Computing: https://open.spotify.com/episode/4AkUNUNGFeCibaPyQWtHSY?si=c351d269b0ee4cf6
The Whitepaper: https://open.spotify.com/episode/1mxIgLMRVzsuYj964ZiLa9?si=3e386d6c5ae14864
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The Use of Knowledge in Society: https://open.spotify.com/episode/6itH5T3tXPlLfJil5jcuU4?si=82d1e0deb1da4725
The Yield From Money Held, Reconsidered: https://open.spotify.com/episode/67dqOHWLX9NRmAs4S0G9XQ?si=9f8fa16e335e4dc6
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"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust." – Satoshi Nakamoto
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