BlockBurn @agoldenliger 5 months ago @QuestioningBTC @schulzzy #Bitcoin doesnt discriminate. Grandma was right throughout all of human history, but it doesnt work in this kind of monetary system because in this monetary system, if you buy a house from your savings, the time it takes you to save money as you are saving that money, that money is losing value because other people are being able to mine new money and so theyre devaluing your existing savings. It is part of the process of a rising time preference that people can indulge in this stuff because they think more about the present rather than the future. The Bitcoin Standard: The Decentralized Alternative to Central Reading Ammous one can imagine why Bitcoin succeeding my be the biggest leap civilization has ever taken in the democratization of money. Think about it globally. If you go to Lebanon or Turkey or Brazil today, everybody knows the difference between easy money and hard money. You cant just be rich; you cant just be financially secure. You can order it from Amazon as well as pretty much anywhere where books are sold. Thank you so much for having me. Ammous said that even though altcoins have emerged that may have possessed superior technology than Bitcoin, they have all failed to dethrone the worlds largest cryptocurrency and drive the price lower. 308. Hes a Bitcoin maximalist and advocate of the sound money theories of Ludwig von Mises and Austrian school economics. Ask yourself, are you delaying your long-term goals because you are busy with day to day activities rather than investing in things that matter to you in the long run? WebThe 20th century saw economic booms and shocks that caused governments worldwide to develop new systems for managing systemic risk while encouraging growth of the private sector. I explained why In this video I made if you want to know more. Near the start of guide Ammous talks about:. Saifedean Ammous Wiki & Bio - Professor Economist This is basically the old human industry. Filmed on October 9, 2019 in New York. Get notified of new articles from Joakim Book and AIER. Dr. Saifedean is known for his engaging approach to educating, with an aim to enlighten students and listeners to the truth about money, value, and its direct correlation "This book blew my mind; it is a work of genius. House of Cards: Has the US Economy Recovered? The first step was writing and publishing a book called the Bitcoin Standard (conventionally published by Wiley) and then leaving academia for the joys of hard money. Saifedean Ammous: I think, not to ruin the book, well, I will ruin the book for people, but basically Bitcoin fixes all of this. Benji Block: If this is the water that were swimming in, how do we maybe change our approach? When you read the economic textbooks today, this is presented as if it was a better engineering design that somebody figured out, Hey, we dont need to have gold there if we just have government credit function as money, then we can have faster, better, easier payments or whatever. Is there a path for bitcoin to become the new gold standard? The best compliment I can give this book is that I read it and I decided to buy $425m of bitcoin. In fact, if you look at the 19th century, the average American used to eat something like two or three times as much meat as they do right now. Please allow a few minutes for this process to complete. Lets talk about maybe how this system was born and what gave it some level of sticking power, because now its been around for a hundred years. Throughout the 350-page rant that is The Fiat Standard, Saif repeatedly comes back to the recipients of government-money-from-nowhere. It is the monetization of a hard asset that does not have anybodys liability in order to make it it does not need anybodys liability in order to make its value constant, in order to hold its value. It is featured in his YouTube channel, which only started in 2021. When I heard Saifedean was preparing a book about bitcoin I had high hopes. Background Saifedean was born in the State of Palestine and spent most of his childhood in Ramallah. Right off the bat, then, theres a problem with thinking that the Federal Reserves money printer finances the governments expenditures; their vast numbers dont add up. Contributions are tax-deductible to the full extent the law allows. In fact, it turns out that the best way to navigate the Fiat system is to be short Fiat, which is effectively to borrow Fiat, to have your liabilities denominated in Fiat. As it started to get bigger, I wrote a book about it and then the book took off and became pretty popular. WebSaifedean Ammous is author of the seminal book, The Bitcoin Standard, which has been translated into dozen of languages. Saifedean Ammous: Thank you. Remember, Keynesian economics is just one big giant obsession with getting GDP up and exports is positive on You said, Anyone who finds a way to get other people into debt, profits not only from a positive interest rate return but also bringing new money into existence. From money that is hard to move around to a money that is very quick in moving around, so I think its absolutely fascinating to witness this and Bitcoins continued rise, you know, its price just keeps going up over time, suggests that, in my opinion, this is a superior technology that is replacing an inferior technology. It currently has 16,600 subscribers and is growing rapidly. For instance, a lot of the cooking oils that people use today as a substitute for traditional animal fats, they are effectively industrial waste. He and his family relocated to Lebanon when is Saifedean Ammous? "Bitcoin Fixes What Show us the smoking gun, please. What The Bank of England did was that it got two high ranking officials in The Bank of England to buy the other two-thirds of those bonds in their own name, with money from The Bank of England and then got the financial press, particularly The Financial Times, to publish an article saying that the bond issue was oversubscribed and thats how they financed the war. Web#Bitcoin will be adopted like gunpowder: if you dont own it, youll be its victim. -@saifedean. Government Attacks 311. Soybean oil is industrial waste and these things have been repackaged and sold as food and theyve been combined with highly addictive sugary substances and highly addictive substances to make these very palatable foods that become highly addictive. It doesnt need central banks in order for it to travel. Finally, he targets the development industry, which he claims is filled with miseducated economists with degrees from what he describes as Keynesian and socialist fiat universities. Going further, he claims these economists have access to a line of credit from the Federal Reserve [which] grants them immunity from market failure.. WebShout out to Matt Homewood for continuing to fight food waste - bins full of good food is absolutely insane. How can the government keep CPI statistics down? Canola oil is industrial waste. Saifedean Ammous So, theres clear consequences and this idea of time is one of them. BlockBurn @agoldenliger , Twitter Profile - instalker.org Sponsor the work of leading economists and academics as they advance the study of the economic principles that underwrite human prosperity and progress via AIER.org. Around the time he got his masters degree, Saifedean Ammous got a job as a Teaching Assistant at Columbia University. Where exactly is this endless limitless pool of funds with which fiat provides government? BlockBurn @agoldenliger , Twitter Profile - instalker.org don't trust anyone, verify everything for yourself. 10. Saifedean Ammous - The Bitcoin Standard Audiobook This is the Author Hour, Im your host Benji Block and today, were honored to have Saifedean Ammous on the Author Hour with us. His accumulated knowledge was valid for the university professor track. Again, the mechanism is correct and has been a source of controversy at least since the Exorbitant privilege accusation from a French finance minister in the 1960s. Standard: The Debt Slavery Alternative to Human Civilization Saifedean Ammous Press question mark to learn the rest of the keyboard shortcuts. Well, the Feds open-market purchases are conjured out of thin air by decree (i.e. His work has been featured in the Financial Times, FT Alphaville, Neue Zrcher Zeitung, Svenska Dagbladet, Zero Hedge, The Property Chronicle and many other outlets. Prices range from $15 per month for beginners to $1,000 per year for the Institutional subscription. Saifedean Ammous @saifedean At a price over $1m, bitcoin is worth more than all USD M1 supply. And like, and, [00:05:40] and really think about it not so wouldnt you rather have the Hashemites in Lybia? Close. Saifedean Ammous is an economist and author of The Bitcoin Standard: The Decentralized Alternative to Central Banking, the definitive and best-selling book on bitcoin, translated to 30 languages. Saifedean Ammous ( @saifedean) is a Bitcoin economist and author of The Bitcoin Standard Check out his website Read the Podcast Notes from Stephan Livera Podcast, where Saifedean explains Bitcoin as a Savings Technology Host Daniel Prince ( @princey1976) Why Saifedean wrote The Bitcoin Standard Software Bugs 317. Is there a cascading benefit of Cantillon effects, where the first recipients of new money benefit disproportionately to latter receivers? Saifedean Ammous is a knowledge entrepreneur. Economist Saifedean Ammous, author of the hotly debated 'The Bitcoin Standard: The Decentralized Alternative to Central Banking,' joins Real Vision for an in You should spend only the money that you have, but it turns out grandma was wrong. Contra Krugman: Demolishing the Economic Myths of the 2016 Election. For me, the importance of Bitcoin, its the hardest money ever because its going to become harder than gold over the next few years and that its annual supply growth rate is going to drop below this annual supply growth rate of gold. Theres no Fiat mine, there is no dollar mine where you go and get it. And would it be enough to turn the trillion-dollar taxation leviathan into whatever size that the Saifedeans of the world no longer think is sufficiently small to avoid ruining the sciences or public morals? A similar mechanism is the store-of-value argument the monetization of assets like Treasuries, stocks, and real estate when we live under a bad monetary regime. Subscribe now to receive the chapters biweekly! So, prices had practically doubled by the end of World War I, which was a massive problem for the British economy and that inflation, that price inflation, that happened was a big problem for Britain after the war because Britain wanted to go back on the gold standard, but they couldnt go back from the old exchange rate. Ammous specifically cited how fiat inflation is used primarily for the needs of the government, saying that The cost of fiat is currently 3.5% of all global wealth, and is Its the homeowner who receives the new money and spends it, and its the banks profiting from the interest rate they charge the borrower. Become a parent (Suddenly you care about the future, even beyond your own lifespan), In raising children, Saifedean emphasizes tying rewards to actions We cant do what we want to do until we do what we have to do first, The Internet allows you to learn things directly from anywhere, Saifedean utilizes this by teaching economics courses outside of mainstream academia, Bitcoin is a complicated animal, you could argue no one understands it completely , The book puts together all his ideas and views on Bitcoin. Saifedean Ammous (@saifedean) / Twitter Saifedean Ammous @saifedean Author of The Bitcoin Standard, out in 36 languages, The Fiat Standard & the forthcoming Saifedean Ammous: Yeah, no. This website is intended to showcase Dr. Ammous research in studying the economics of bitcoin, and nothing in it should be construed as investment advice. There is a much bigger scope for conducting many, many, many more transactions across the world with Bitcoin. As I took one course of economics in my undergraduate but then I decided for my graduate studies, I wanted to study economics more in-depth. Check out The Once BITten Podcast Episode Page & Show Notes. He is a regular contributor and co-founder of the Swedish liberty siteCospaia.se, and a frequent writer atCapX,NotesOnLiberty, andHumanProgress.org. He creates new knowledge thats valued by his customers, because it helps them to think betterand better informs their actions.
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