Financial nihilism and political volatility | Demetri Kofinas

In this episode of On The Margin Mike is joined by Demetri Kofinas, a media entrepreneur, financial analyst and host of the renowned Hidden Forces podcast. Demetri discusses a wide range of topics from financial nihilism, political volatility, the fourth turning, China vs U.S relations and what prospects decentralization can offer to society.
00:00 ・ Introduction
02:19 ・ Financial nihilism
14:30 ・ Globalization
26:43 ・ A transition point in history
33:00 ・ The social contract
41:37 ・ The US and China relationship
1:04:58 ・ Bitcoin
1:33:35 ・ Regulation
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[@moriartyco]

Better than Realvision! Nice one guys, absolutely fascinating interview and great questions. 👍

[@suecockburn4783]

I love Demetri's comment about Facebook and believe it is dead on, "Facebook's business thrives on mind control and behavioural control". Listen to him at the 1 hour 30 minute point. Excellent!!

[@coliniveson2122]

A really fascinating converstation. Demetri brings a clarity to many issues not least showing just how much is connected to modern day life from recent points in history. Also makes me feel fatalistic about the future without poitical will to change in any meaningful way. Many thanks.

[@adminbyswissborg7003]

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[@Nylonnerves]

If you loved The Ascent of Money, you should try Money Changes Everything by William Goetzmann, another book that goes into (fascinating) detail on the history of finance and credit.

[@morrisfamily7707]

A very valuable conversation...well-done Block works and of course the realist Demetri.

[@Mazeisaspace]

Seriously the "SAVE environment"! Really that is the mission - and a way of getting rid of nihilsm in the financial markets. It is sad that only an "external enemy" is the only way of rallying people as a whole...

[@BlockchainBreakthru]

Great convo

[@Nylonnerves]

I actually interpreted Michael as saying blockchain technology and crypto in particular offers a way to cut out the middlemen where there is a transfer of information or assets from one individual to another. If there is no centralised entity moderating the exchange then the individual does not need to relinquish, however temporarily, custody of their information or assets. It's hyper-libertarian by design.

[@amarreta]

🤯 incredible conversation

[@jamb2962]

37:40. Gives a good context for the wave of tribal idenitarianism.

[@ALDEL88]

There is actually not “import of deflation”, as prices go up everywhere in the world due to money printing globally. You just had a one time lower price which goes up thereafter (ie iphone 1 was 450$ and iPhone 15 is 1500 both top features available cells at their respective times).

[@jamb2962]

21:40. What problems would arise from bringing back mfg to the u.s?

[@acrobatmapping]

He's understating the exponentially deflationary effect of technology. Wages could be rising world wide, and we'd still have exponential deflation if not countered by the central banks.

[@escalatingentropy4542]

If rates were higher, there’d be a premium on the impact of that deflation because there’d simply be less capital to put to risk. You couldn’t have big F’ups in capital destruction like what we’ve seen in the US where investors seek monopolization. Meanwhile, VC investments in cities like Stockholm, Amsterdam or Tel Aviv sees enormous ROI, there are many reasons why but from just the capital perspective they’re absolutely destroying the US on being resourceful with investors money. That’s the kind of culture the US should be aiming for in tech, one that doesn’t seek to deploy capital in order to monopolized all industry, because it doesn’t leave as many bodies along the way. Economies in these countries, while they surely have their issues, aren’t nearly as unequal as the US is already and trending to be far worse.

[@acrobatmapping]

@@escalatingentropy4542 Rates natural trend will be dowards though not upward...again because of exponentially deflationary technology. It's the central banks that are fighting this will money creation...in a futile fashion I might add.

[@tusam3643]

good one

[@adminbyswissborg7003]

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[@bradynields9783]

1:37:22 Couldn't owning assets that provide an income help reduce the gap in income?

[@PoppieFieldsForever]

Good shit 👍🏼

[@adminbyswissborg7003]

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[@Nylonnerves]

I don't necessarily think the state has an OBLIGATION to provide a national narrative or mission. It is merely to the state's advantage when they are able to rally the populace around a mission that the state champions.

[@chrisbowman3254]

work needs to be done and not everyone is needed to do it. Humanities main dilemma

[@bradynields9783]

Exactly, own a portfolio of different digital assets and take profits in BTC.

[@extraclip]

Shitting on the internet while using the internet and generalizing people in a single box . Classy. Amazing convo before that.

[@extraclip]

More transactions in gold in the 30s than onchain?

[@choski76]

Dune is awesome

[@adminbyswissborg7003]

Thanks for watching and comments, Don't forget to hit the subscription button. For further questions, guidance and support at any time. Just Dm ....... + 𝟷𝟸𝟽𝟼𝟾𝟾𝟶𝟾𝟷𝟶𝟼 .... WHATSAPP ** or SIGNAL-APP**

[@LexiH36]

This is actually the perfect conversation for me. Good stuff as always

[@NA-su3jk]

So cool... normies coming around to it all, slowly but surely.

[@adminbyswissborg7003]

Thanks for watching and comments, Don't forget to hit the subscription button. For further questions, guidance and support at any time. Just Dm ....... + 𝟷𝟸𝟽𝟼𝟾𝟾𝟶𝟾𝟷𝟶𝟼 .... WHATSAPP ** or SIGNAL-APP**

[@BertramGroverWeeks]

Niall Ferguson is not pronounced Ny-ell. It's the Scottish version of Neil man. Just say Neil.

[@jonl9192]

Dude the gold standard didn’t fail, the US failed the gold standard. And you got to stop with this idea that good political policy is what pave the way for prosperity in the US post World War II. Post World War II we had all the gold in the world and then re-established the gold standard. It is the sound money that paved the way for prosperity, which we subsequently broke in 1971 which is when you could say everything started to go to shit, but it is just now showing in the 21st-century. The best government policy is no policy. The best government is no government. A true bitcoiner realizes anarchy is the way forward in the end. (Have Michael Malice on your show.)

[@ForwardGuidance]

Zombie companies. I hear this over and over again, but never heard anyone give even 1 example let alone a list of Zombie companies. When guest speakers say this, challenge them to name just 5 companies that are Zombies. Or, maybe publish a video about 5 companies that are Zombies and detail why they are. No one ever explains any of this.

[@adminbyswissborg7003]

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[@igorromanov6554]

P0

[@oli2805]

Bitcoin as reserve currency is never gonna happen in the us. It's doesn't change its value. I am surprised you actually thought that was a possibility 😂

[@escalatingentropy4542]

All it takes is a few years of high inflation to change this perspective. Which is why Latin America & parts of Africa, maybe Asia & E. Europe, all will benefit the most. And when the US wakes up and realizes the precious dollar no longer matters, people will finally understand. Currency crises tend to lead to upheaval & change.

[@oli2805]

@@escalatingentropy4542 sorry I misspoke. I mean it will never be used to back the currency the way gold was. I am sure there will be some kept as a reserve asset one day. Just not a backing asset

[@escalatingentropy4542]

@@oli2805 well, as long as the Fed keeps rates down, they run the risk of ruining the dollar. Rates turning negative kill the base collateral of the global system (treasuries). One way to get rates normalized is by changing the collateral to Bitcoin. You need a pressure valve to achieve this. That’s the case for how it becomes a tacit backstop to the currency. Hard money systems are typically the last resort. No countries ever chooses to go to a gold standard, it’s forced on them exogenously.

[@Cipza]

Well this guy is a dingus when it comes to bitcoin. Smart commentary on other things tho.

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[@shawnrydah5860]

This guy sold his Bitcoin

[@adminbyswissborg7003]

Thanks for watching and comments, Don't forget to hit the subscription button. For further questions, guidance and support at any time. Just Dm ....... + 𝟷𝟸𝟽𝟼𝟾𝟾𝟶𝟾𝟷𝟶𝟼 .... WHATSAPP ** or SIGNAL-APP**