180. Applied Anarcho-Capitalism with Doug Casey

We are joined by veteran international investor and Anarcho-Capitalist Doug Casey to discuss his decades of experience in practically seeking economic freedom. We discuss Doug's thoughts on where to live to maximize your freedom, why he likes Argentina, of all places, and El Salvador and the Arab Gulf. We also discuss gold and silver and whether they still have a monetary role to play, and how the IMF continues to pillage the world.
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Saifedean’s first book, The Bitcoin Standard:
saifedean.com/thebitcoinstandard
Saifedean’s second book, The Fiat Standard:
saifedean.com/thefiatstandard
Enjoyed this episode? Join Saifedean's online learning platform to take part in weekly podcast seminars, access Saifedean’s five online economics courses, and read his writing, including his new book, Principles of Economics! Find out more on saifedean.com!

[@jelio123456]

I love that the guest asked Saif if he knew anything about what was going on in El Salvador 😂

[@GuppyTrader1968]

The most valuable thing I got from this interview is we have an old school investor and commentator discovering bitcoin is not a scam but a solution to the dying fiat system. This validates my thesis and confirms this is not a fad but a revolution.

[@educosta21]

Petition for a dark mode bitcoin standard. I woke up today, still dark outside, got to see this gem of a conversation, but now I see Saife every time I blink. Not that bad actually.

[@peanut9051]

Mr Doug Casey was speaking truth for 40 years. I strongly suggest finding and listening to him when ever you can. Doug was teaching / writing and living the reasons for Satoshi to write the White Paper.

[@carbonfibercrypto2919]

Ive always enjoyed listening to Mr Casey, and Saif is one of the most casually savage comedy writers that happens to write about my favorite orange coin.

[@marklane870]

Thank you 🙏

[@goodnessuche1430]

This was a beautiful video. Saif you're the GREATEST. Principles of economics has changed my life forever.

[@markose]

Doug Casey is The International Man Incredible individual

[@cryptoemcee]

Thanks a lot for this amazing episode, Saif!

[@brainkill7034]

Excellent interview, thank you for sharing.

[@waynerichardson1051]

I've been messaging Doug for months to do more research on Bitcoin!! Begging him actually!! Ha ha. I'd really love his opinion on the subject!! He's a Bitcoiner at heart, he just doesn't know it yet! Ha ha. But seriously, I haven't listened to podcast yet. I don't even know whether you two go over BTC. But just knowing he's been on your show, you've chatted leading up to this podcast and he's obviously read your books makes me feel so much better about things! You two, Booth and Saylor are my inspiration mate!! Thanks again for everything you're doing for us, it's really appreciated! Cheers

[@VamosViverFora]

He knows bitcoin for a while. He mentions that in a daily basis on his mail digest.

[@benkincade5254]

This was excellent. Thanks Saif!

[@knnmran]

i like this podcast because it constantly brings in new and interesting people with different ideas. tired of listening to the same old Bitcoin talking points over and over which are of course still valid. also i think Saif is not aware of Argentine Javier Mileis thoughts on Bitcoin because he would have definitely brought that up.

[@BasicBeachCommunity1]

People need MORAL, SOCIAL escape hatches as well. Well put.

[@romanuhlevatyi]

Thank you

[@chrishayes8012]

Good show Saif.

[@ManuelBTC21]

The BRICS have set up a development Bank in Singapore. If they'll do a currency, I imagine that's where settlement will happen.

[@CentrifugalSatzClock]

"That's pretty rare for a world leader..." Har har har! I love it!

[@Trip_Johnson]

Tips on successful living from Doug Casey: #1. Get smart #2. Have a bunch of money.

[@busymikey]

Great talk

[@gettinafterit2158]

I dont understand self custody, how do I do it ? If I buy on coinbase do I transfer it? Do I put it on a hard drive, flash drive?

[@oliverbristow7379]

I’ve been thinking this for ages and this is the first time i’ve heard anyone say that money is a very valuable function in itself, and bitcoin doesn’t need a separate function to be of value. To take it further, the confusion i think comes from the difference between fiat and commodity money such that being a produced, finite commodity is what prevents the infinite, near costless proliferation of it. Having scarcity built in removes the need to be produced incidental to its function as money from bitcoin.

[@aviatoFPV]

No it doesn't need a separate function. Unfortunately it isn't fungible and can't function as a currency.

[@oliverbristow7379]

@@aviatoFPV It's true there's a fungibility problem. Privacy cures this e.g. Litecoin mimmblewimmble private transactions.

[@aviatoFPV]

@@oliverbristow7379 Correct. We should all move away from public ledgers and move into private ones. Adam Back (Satoshi Nakamoto as proven by the matching .dll's in hashcash and first 3 builds of bitcoin) recognised this flaw about a week after launching bitcoin. My guess is he had something to do with the launch of monero as well.

[@liquidkeys]

Great interview. The only problem I have with bitcoin is that the last coin will be mined in 2140 and block rewards will continue to fall until then. I see this as a problem with the future security of the network. How do you protect against 51% attacks and how do you incentivize miners to continue to secure the network with their computing power as the block reward diminishes and ultimately reaches zero?

[@robinlox99]

Miners will still be performing the transactions. Miners=machines=security.

[@nolittering9900]

The miners are also incentivised by fees that you pay for each transaction.

[@GuppyTrader1968]

Firstly by 2140 bitcoin will not be the unit of measurement. It will be the Satoshi. Remember it will take 30 years to mine the last bitcoin. So miners will be competing against each other for Satoshi rewards. This would inevitably value a Satoshi the equivalent or greater than a bitcoin is today. This assumes fiat US or equivalent is still around.

[@Gold_Silver.]

#Gold #Silver & #Bitcoin to the 🌕 baby we out 🚀 Sound Money > fiat currency. #EndTheFed

[@hoppeanofasgard1365]

I'm not sure the gold standard restrained governments as much as you think, sometimes governments would print more than what they were suppose to, remember they don't always follow their own rules.

[@MilionerstwobyJanFijor]

They almost never follow their rules!

[@aviatoFPV]

Saifedean should adjust his arguments to a multi coin future. If you believe in the principles of free markets, you'll understand there won't ever be one-for-all things anywhere. Not to mention the fact that bitcoin isn't even fungible. Using a second layer isn't using bitcoin.

[@alanmrsic893]

Digging a deeper hole means more energy consumption getting silver out of the ground. Therefore the price van not go lower, right :-)

[@gavintfrye]

Doug is actually correct about bitcoin the first time. When fiat dies… so do US dollar denominated aka fiat denominated assets

[@Arash9887]

you’re very educated and informative and I am very thankful but why arab gulf or gulf and not persian gulf?

[@zoomzoom3950]

Berkshire Hathaway for the win!

[@richardwilson57]

There will be no crisis…….. BTC will slowly remove liquidity from a failing financial system……. There will be no catastrophic collapse just a slow upgrade to a superior money

[@blake1948]

Ya right

[@CX-ns4ft]

I actually agree. People working by the law and inside the fiat system will continue to be squeezed till death... quite sad but probably still more realistic than expecting a final definitve fiat collapse... if it has not happened until now, why would it happen tomorrow...

[@robinlox99]

I envisage a mad rush for the lifeboats.

[@traderjet]

Can I buy that Novel yet? 1:01:37

[@dmpath]

I've got these points in common with Saif. I eat steak and stack BTC on a daily basis. Also view BTC as the only hope on the horizon. Without BTC I'd be a total pessimist.

[@Needlestitch]

You both appear to proof of steak persons. 🥩🙃

[@fhoofe3245]

too bad BTC doesn't work as a currency anymore!

[@adelsasumi]

This facility for gold trading for a global gold standard is Shanghai Gold Exchange.

[@HaveANiceDay108]

Nobody in their right mind will trust the Chinese with their gold, nor does anybody in their right mind trust anything coming from the Chinese government. Good luck with that.

[@alanmrsic893]

What amount of money do you need to take 51% of Bitcoin calculating power? Decentralized, really, what amount of bitcoin is being held by less than 5%, besides why spend something that only can increase in value. :-)

[@orangejulius8366]

Great to see Doug orange pilling himself.

[@usewhatyouhave6975]

I think Bitcoin eventually fails because the supply cannot increase. With gold the supply is always expanding (slowly and consistently) with the growth of technology and the population thus keeping the value of gold relative to other goods and services relatively stable. Whereas Bitcoin will eventually become unaffordable to basically everyone.

[@casamurphy]

Inflation is never good or necessary.

[@usewhatyouhave6975]

@@casamurphy well maybe that’s true and maybe it isn’t. In all of history that I know of every example of a money always had a method of expanding the supply of that money. Up until now that also includes Bitcoin. But what happens when no new Bitcoin are being minted? Take that with the fact that a not insignificant amount of Bitcoin is lost and never to be recovered, eventually you end up with a stagnant system where there is not enough money to supply the demand for money.

[@casamurphy]

@@usewhatyouhave6975 Bitcoin, as mention by Mr Casey is infinitely divisible so the problem you describe won't happen with Bitcoin.

[@MilionerstwobyJanFijor]

I am afraid of what can happen if some new BTC could happen. I still have a doubt about this 21 mln supply limitation.

[@casamurphy]

@@MilionerstwobyJanFijor More study will set you free if that fear. In a sense there already exists more than one bitcoin. The fork wars created bitcoin cash. The market chose original Bitcoin. The market only needs, and indeed prefers, only one perfect form of money.

[@aklo5506]

Muh Bitcoiners would benefit well from studying Silvio Gesell

[@arthurking6549]

Mr Casey's past is clouding Bitcoins reality.

[@robertmcintosh8773]

Vote Trump , end the fed , desolve the irs fbi cia department of education bteak up the monoplies for starters

[@Tempfade]

He sounds like Winnie the Pooh. Love everything he’s saying though. I’m here in Paraguay 🇵🇾 Guys it’s all about energy generation like hydroelectricity etc. Go to where energy flows

[@Houthiandtheblowfish]

btc is a goverment creation

[@TheBrianna4555]

Source: trust me bro

[@bootangy]

miner capitulation scares me

[@hoppeanofasgard1365]

You guys are forgetting all of the other crypto currencies, I'm sure any in the top 10 would be a good investment over the long haul.

[@johnedwinoliver6842]

Too many Commercial Advertisements at the Beginning

[@user-jr3kb8qy8e]

THUMBS DOWN TO YOUR CHANNEL AMMOUS

[@555Trout]

The cut edits made this awful.

[@iExploder]

What an intellectually bankrupt philosophy this is.

[@markpalmer8083]

Dude still can't understand why he should sell all his silver and gold and buy Bitcoin. He should try listening more, rather than closing his ears when he holds something.

[@user-jr3kb8qy8e]

AMMOUS YOU DID ALL THE TALKING INSTEAD OF YOUR GUEST👎👎