There is a clear and concise line of thought there going back some time now; en.m.wikipedia.org/wiki/Socialism_for_the_rich_and_capitalism_for_the_poor
Read creature of jekyll island. It explains why the banks helped pushed the goverment to create a central bank to protect the banks own interests from not defaulting and much more.
Lyn Alden is astonishingly clear in her macro and historical detail. Her book, Broken Money, is an interesting history and more importantly look monetary forward.
I listen to RU-vid videos at speed x1.75, but this one I'll hear at normal speed. To even understand a fraction of what someone as knowledgeable as Lyn Alden talks about is something to be proud of! 🤩
Lyn is the best and literally has a great variance in opinions that dont necessarily make the banks and fed and treasury look evil but doesn’t sugar coat what they do and how it affects our world
This is a VERY IMPORTANT conversation especially for our time. Ending the old system too soon may be the biggest mistake we ever make, or the most clever move 'they' can make to retain power.
Right at the very end, you guys made one of the most important points that almost no one ever remarks on: when people take loans from banks, they do so, most often, without fully understanding the level of risk they are accepting or tge fact that banks have shifted most of that risk from themselves to the borrower. This is the real foundation of the banking crisis of 2008-2012.
Anything to do with money Lyn is the GOAT. Her book travels through history to present day finance and she's definitey the Queen of Connecting Dots. I'm a lot smarter today, than I was yesterday - but still got a long long way to go tomorrow, before I can stand up by myself. Thank you Peter. Thank you Lyn.
Most of Lyn's interviews, I get a brain hemorrhage - but not this one. I appreciate Lyn's easy language here where simple people like me can understand. Peter's interview technique probably helped with that. Thanks to you two. 💜💯🥰🍕
Thank you Peter for the 'outside the normal box' questions. Lyn is tremendous in her research and understanding, absolutely a tour de force that brings clarity. And yet she stresses that anything can happen out of the probability smorgasbord of likely outcomes.
You guys seem like you really like each other but you're about as similar the characters in the TV show The Odd Couple. Nonetheless I love listening to you both. ❤ Keep it up.
I’m on chapter 12 of Broken money. A great read. Thank you Lyn, I can now follow what you say with ease. I read the Bitcoin standard. Anyone suggest a 3rd book?
I’m 52 hoping to end the rat race by 60 with above $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I'd love to diversify my portfolio.
44:55 regarding banks holding and fractionally reserving bitcoin....some say this isn't a problem because people can more easily take out their bitcoin. This is wrong. Banks have or will have limits of withdrawal
People leaving their Bitcoin for banks to hold custody -deserve to lose their Bitcoin, because there is no guarantee the banks will return your Bitcoin. They could keep your Bitcoin and pay you in fiat - or worse yet - simply transfer your asset to their asset balance sheet - check out The Great Taking by David Robert Webb. Remedy - store your Bitcoin in a Trezor hard wallet. YOU have custody. Bitcoin will still attract the profits or losses and the banks cannot extract/exploit any value, that rightfully belongs to the Bitcoin owner.
Inflation? Why not call it what it really is...a 20% Pay cut for everyone in the country. The Federal Reserve's "target" devaluation of the dollar (inflation) is 2%. The devaluation of the dollar is just beginning. It will take years to inflate away the $40 trillion US debt. This is a great time to borrow, if you buy appreciable assets. Lowering the Prime Rate during inflation is pure politics.
Bitcoin is inherent deflationary; if the supply does not increase theoretically the value of a coin must increase over time. So there is not the incentive to sell a coin tomorrow, next week or next year is not very high. This coupled with higher transaction times means Bitcoin - like Gold - will not be a standard for western banking. There is no desire to adopt a deflationary platform.
Beyond housing prices, these fascist governments are going in and increasing property taxes at a dramatic rate. So even if you’re sitting on one of these homes in which the price is rising, the real return is being gobbled up by property taxes.
Anyone old enough to remember 2010 UK before "austerity"? An ideology based on a research paper which contained a critical typo. How have the tories made us all poorer, sicker, even shorter, and still cranked the debt dial up to 11?? 14 years later and clever people still talking like we need more austerity. Less welfare, less police, less public services, less culture. We're being devoured by money and epic levels of corruption and short-term, selfish thinking.
You can't have a central bank without government. It's a monopoly, YOU can't start one. You can't start one because armed state soldiers will be stopping you. Just like any monopoly, can't exist without the state. Read Rothbard
Who would voluntarily trade their money for a Ephemeral non-tangible mathematical representation Whose volatility is unchecked? Only people desperate to avoid government interaction. There literally is no other coherent explanation.
