A Debt Jubilee to Save the Economy with Arthur Hayes

[@chaotic_coder]

Absolutely love watching Arthur-damus!

[@robertrobert6665]

Genius intellect without taking himself too seriously! Thanks🙏

[@pxbroccoli]

Indeed

[@bmpereira]

What a freakin' Legend Arthur is. Love this episode!

[@lastleaffallen1006]

Arthur makes genius look so fun ... brilliant

[@AnonDa]

Could have easily listened to another few hrs of this 👌🏻

[@nugster9559]

I enjoy hearing Arthur’s thoughts…

[@jacksonthomas3775]

Love Arthur, good talker great writer.

[@andreattafabio]

Arthur is the real MVP

[@chonkiboii]

Dannie, please have these longer. You guys ask million questions and Arthur can only cover these on very surface level. Would love to hear him go into more detail. Anyway, keep up the grind. Thank you.

[@jonnybarnes2269]

Another great conversation Peter, just wish this one could be a couple of hours, you and Arthur make for great listening, especially on a Friday!

[@kevindega]

Likewise great convo, wish it was longer! (2 hours +)

[@lastnamefirstname2390]

I watched an interview with the economist michael hudson and he covered this. The history of debt, usury, and the politics surrounding it. Debt-based systems always collapse because it inevitably leads to unequal, classist, totalitarian rule. So the people revolt or leave. Plus, debt always grows faster than assets like cattle (or GDP). Earlier civilizations fixed this by having jubilees. But nefarious individuals fought to maintain and spread debt based systems. The debtor (slave) is subservient to the creditor (master). The creditor's are the 1% and they've historically assassinated anyone that tried to wipe away the debt. Which is where the word tyrant came from. Anyone that tried to free the masses from debt slavery was branded a tyrant and killed.

[@flowwesterly6136]

Yes, but you and I are part of the 1% living in western industrial countries. What you're referring to is the 1% of the 1%.. We've been subjected to divide and conquer trojan horses throughout history, but now it's a tad more nefarious and sneaky using leftist ideology as a proxy weapon against us the 1%.

[@bosco9028]

You're a fkn idiot. the word Tyrant comes from the following: The original Greek term meant an absolute sovereign who came to power without constitutional right. Originating from King Tyrannus during ancient Hellenic times. Do your research properly idiot!

[@odnilniloc]

This needed to be a couple hours longer. Excellent conversation and I agree with many here that Arthur Hayes waxing lyrical is something to behold.

[@PeterPaijuk]

This guy is great Smiled through the entire thing lol

[@traderbean-btc485]

Great stuff. Arthurs smile is contagious! That parting look is classic.

[@rvahi]

This guy was an absolute legend in the 2018/2019 bear market! Never forget! I can‘t believe he is not in jail.

[@Lex_Fur]

I think he still has an ankle bracelet. Which is a shame. He is a pioneer. Lots of respect for Arthur.

[@JC-wj5os]

never forget what?

[@stacknsat]

He has that long paper ....team of lawyers upwards 500 an hour....Sec just want there check

[@underneath237]

Very interesting show, and Arthur's energy metric really fascinating. Bitcoin is energy, so we win.

[@davidjeon9429]

whether you like him or not dude is brilliant!

[@princessl_02]

Wow this guy is great. Good fun and interesting interactive interview.

[@nickrichards8516]

yeah I like this guys philosophy and thinking a LOT. All/most people have done some regrettable thing, I call it a learning exercise.

[@JorgeOrpinel]

Romans most notably did NOT do debt jubilees unlike most nations before including some Greek kingdoms but mostly mid-Eastern ones before them. Check out The Collapse of Antiquity where Michael Hudson proposes that NOT forgiving debts is foundational to modern Western society (and one of the reasons we tend to overestimate the relevance of Oligarchic Roman law).

[@RahaRo11]

Love this guy. Great show.

[@Hixyboyblue]

The best oxymoron ever. "These cunts aint dumb" ha ha. I love this guy.

[@harri7416]

Bang on with his cycle analysis. Came to the same conclusion myself. Q3/4 2025.

[@harri7416]

PS great guest, great convo.

[@texasRoofDoctor]

Arthur is amazing. Pricing assets & currency in energy is a fair metric despite the fluctuations. Oil makes the world go round. On the debt Jubilee topic- I heard a few years ago that the story of Jesus whipping the money lenders (whether you believe that or not) may be allegorical to Jesus or the people in General being angry that Herod did not declare a debt Jubilee upon his ascent to the throne. Not sure but...that is one story.

[@realcyberghost]

I like this guy, he is cool and happy, even though he supports Ethereum, he talks a lot of sense.

[@tobinittel9161]

Germany's currency reform in 1948 canceled 90%+ of public and private debt and set the country off to building a strong economy. In contrast, enforcing debt payments after WW1 resulted in Weimar inflation.

[@UptownSigma]

Great convo!

[@OmarOmar-mk1yy]

I love Arthur he is great writer

[@TheBitcoinRevolution]

Loved this one. Very smart without a care in the world, well not any longer anyway despite the massive fine he paid. Still mega wealthy and full of fun.

[@amartin6255]

Arthur is the MAN

[@Happi60]

Printing money is like jumping off a building and expecting to Fly.

[@leolightwork]

Great talk 💯

[@SteelMcCoy1]

Love Arthur Great show man

[@markkuykendall5475]

Btwn dropping f-bombs (grins) Hayes mentions Solon. He was an Athenian greek statesman. The greeks knew about debt jubilees from the Babylonians. The kings of the cities on the Tigris and Eupharates rivers would do a debt jubilee once every seven years or something like that AND when a new king sat his ass on the throne.

[@dingfeldersmurfalot4560]

Entertaining guy, and a fun interview!

[@jimnichols5584]

#ArthurTheGOAT

[@Amazonelope]

Great interview

[@naty1m]

For those that are wondering there is a very recent and revealing instance of Debt Jubilee in modern times: The US Invasion of Iraq. The new Iraqi government assumed the massive debts of the previous regime and in order to provide stability for the fledgling government, the US forced creditors to forgive something like 80% of Iraq's debts over a several year period. Just remember that - when the US wanted to, they forgave massive debts. Debt forgiveness has been long part of human society, far longer than it hasn't. The first society to stop the periodic cancellation of debts was the Romans - I bet you can guess one of the major things Caesar did that made him so popular with the people before his assasination.

[@SwitchWhisperer]

This is a great one thank you !!

[@dannybitcoin116]

What will fix the problem of a Eye disruption in the future and the problem of what to do with large sections of the globe and their people is….. the leisure society, a world where people are freed up just to travel and experience other cultures, and basically go on permanent vacation…. Different countries around the world will just focus on hosting other countries and sharing their culture with them.

[@handyrams4822]

The Liquidator King

[@funkadelicfretfo]

The debt jubilee is interest rates at zero. The perpetual roll over. We are temporarily in a supply size inflation spike which will settle. Debasement will cause hard assets to inflate forever but a can of beans will inflate at 2-3% forever in your gut and financially forever

[@J2theNard]

When Hayes speaks you listen

[@Tenebrousable]

Damn...This guy is coming in hot with some legit big brain energy. It's like he can see how some 40T usd will be settled.

[@montgomery1231000]

One smart dude.. Incredible.

[@ceythehun83]

@39:32 "But no one understands what causes inflation". Inflation is the excess printig of money. rising prices are a symptom of inflation. i think most people think inflation is rising prices but it is not, it's printig loads o'wonga!

[@kickinit333]

Wait, nobody in that room knows what causes inflation? OMFG, why would I listen to them then. So weird.

[@BaconIsGood4You]

Great conversation!

[@cryptominingappsforandroid]

arthur just made all of us 10 times smarter

[@currentlyrebranding]

This is a great conversation, glad I watched this, good to hear perspective from Arthur on different aspects, FTX, debt jubilee and the thoughts of what decisions governments do today will always affect 25-50 years later, maybe now even faster since we’re in a technology revolution.

[@rustymorning431]

Great podcast.

[@weepz]

That was a great podcast!

[@robertkennedy9188]

“The only thing in life worse than being talked about is not being talked about” - Oscar Wilde

[@MrChuckomatic]

Art is the man !

[@an-eios7125]

That stare into the camera at 43:04 was chilling and brutal Holy shit ...

[@jfonseca81]

Arthur is an absolute beast, mentally and physically!

[@miltonfriedman6709]

Hi Peter I always love your potcast Can I translate this video in Korean and upload it on my channel? All of the viewers will be Korean people.

[@DN-dj4gi]

Where are the timestamps :D ?

[@entervalhalla8484]

That's what a millionaire laughs like? I think I'm ready. 😁

[@senorgringopapi2059]

Smart dude

[@rusty256]

The Brit: “who was the Labor guy, uh” The Yank: “Corbin”?

[@angusmcbraith]

This is good

[@walterblake1]

The king

[@MeZzZzZzZzZzZzZzZzZ]

A good follow up question at 25mins would of been why does he think we'll have one more go for risk on assets THEN Armageddon? Why not the peter schiff like crash now. The fed rate hikes havent been fully felt, doesnt seem like the lows are in. $3k s&p incoming.

[@royston6033]

Get Edward chancellor on. He talks about debt jubilees, inflation being the modern equivalent, and interest rates being the 'price of time'. He was on bankless recently.

[@BS-jh1ug]

Was Iceland a defacto debt jubilee? They didn't impose austerity on it's people to pay for erroneous banking circa GFC

[@d7r_tv]

Holy sh!t. 🤯 run the the liquidation algo.

[@TheRealDerekS]

power=work/time the ability to apply force over time equals power. Bitcoin is Power. it shouldn't be compared to currency's or tech stocks or even bond markets.... or should be compared to energy (which is the master commodity for everything)

[@TheRealDerekS]

sorry, meant to say it should be compared to energy bcuz on a long enough time frame energy and bitcoin represent the master commodity: power

[@davidhidvegi4417]

Greedy people have fun of taking money out of retail pocket with shitcoins. Stay humble stack sats.

[@DonteeWeaver]

👀

[@vonMeiser]

Arthur owns his degeneracy. Love it

[@mmnotes95]

Is Arthur Hayes one of the five smartest people in the world right now?

[@mmnotes95]

Balaji Chamath Arthur Ackman Warren

[@roanora7853]

Looks like someone has been reading their Michael Hudson..

[@whenwasnow6062]

I want his cpu

[@christopherhartline1863]

So, if the government owns the banks they can expunge commercial debt?

[@JonFrumTheFirst]

Student loan forgiveness: students with two professional parents, $250,000/yr. household income, attend an exclusive private college, take out huge loans, and then have their debt wiped out? What of the students like me? Attended a local state school, got some small grants and paid for the rest myself with work savings, leaving school without a cent of debt.. They get gifted many tens of thousands of dollars, keep their la-di-da degrees, and i'm still scraping by? F#ck that.

[@andyjoiner3801]

Interesting conversation. The debt jubilee thing is a total non-starter though - it would never happen, and nor should it. The idea of paying peoples mortgages off is massively unfair to the poorest in society who have never (and will never) be in a position where they can buy their own home and are stuck in the rent trap (like myself). So what, you were fortunate enough to get a mortgage, with 20 years left on it (e.g. $400,000 outstanding), and the government basically just gives you a free house by cancelling the debt, where-as the poor sod next door working two jobs and having to pay rent every month just gets shafted and left with nothing? I won't disagree - the current debt based system is deeply unfair - but a debt jubilee would cause such upheaval in society and you'd get massive beneficiaries and massive losers living next door to each other - the animosity would be extreme. I wish you'd pushed Arthur a bit more on this point. Also, don't forget, one persons debt is another persons asset - so such a debt jubilee would pretty much wreck all pension funds (that hold things like mortgage backed securities) - who would bail out all the pensioners when their pension funds go belly up as all the debts are cancelled (and therefore their assets are cancelled) - so all you'd do is issue a debt jubilee, and then IMMEDIATELY have to turn on the money printer to undo all the chaos that it's caused! We have a solution already, it's called Bitcoin - people just need to onboard to that new system and the old debt based system will naturally decay away over the next few decades...

[@richking4705]

Arthur is king of the jungle

[@lekinos9822]

time stamps not your thing?

[@davef5916]

shout out to jellycat

[@Dante3X]

🔥💯💪🏾

[@goober-ll1wx]

Arthur still owes 3ETH from that crappy ETH options call last year, now I'm broke and he's still rich :o/

[@michaellilienfeld4137]

#buy bitcoin

[@Bit-while_going]

This guy's based as f.

[@Tenebrousable]

Damn...

[@SimonTelezhkin]

So, that's another guy with good track record predicting armageddon in 25-26. Fun times

[@stevem5580]

Is a debt jubilee possible? Really? Know your history! Debt jubilee frequency is well described (commanded by God) in the Bible’s Old Testament. Look up Israel’s punishment by God for not doing the debt jubilee. Study God’s design purpose of the debt jubilee; it’s actually good (God’s blessings) for the rich. No doubt significant moral hazards for lack of accountability with debt forgiveness vs those who live responsibly and debt free. In OT there was time bound slaves because of indebtedness.

[@Annnnndbitcoinfixesthis]

Arthur Hayes be my frand

[@TheDariosouza]

Jubilee 49.. 🤔

[@BS-jh1ug]

Arthur is just not interesting from a Bitcoin POV. He just wants to get rich and be flamboyant.

[@hassandiallo5326]

What bitcoin didn't ? 🤣🤣🤣

[@Wats4tea]

Debt jubilee will be paid for by the middle class

[@theccs5012]

Goldfish

[@luckeeeeee]

5 minutes in and I cannot stand this guy and the whole thing. First ever WBD I disliked. Maybe it’s just me.

[@axb8000]

Scammers Masterclass

[@formxshape]

25:52 “Danny and I”!!! Dude learn some grammar please 🙏 put yourself second in the sentence. It’s rude to say “Me and…”, you’re putting yourself first! 😂

[@AkshatVaidya-b9n]

India is the king of the modern day "Debt Jubilee": en.wikipedia.org/wiki/Loan_waiver E.g.: "In 2017, at least four states Uttar Pradesh, Maharashtra, Punjab and Karnataka, announced farmer loan waivers, with estimated cost of about US$13.6 billion. Experts project that if the loan waivers are implemented nationally, will cost about 2-2.6% of GDP (US$40-50 billion). The RBI opposes the loan waivers. "

[@nicoalychavez]

Such a legend, great episode man! Btw I sent you a quick message on Instagram, let me know if it went through :)