The Fiat Standard with Dr. Saifedean Ammous

[@sunbro6998]

I always learn something new when I listen to Saif, usually a lot of new things.

[@fatrick9001]

Saif is great, looking forward to his next book.

[@SoundAsleepSpace]

Great discussion!

[@fusion9619]

I need a cybernetic implant that allows me to listen to podcasts and read books at the same time. I got a bunch of interesting books off of the mises org website.

[@neeltheother2342]

My want-to-read list is growing bigger than my actually-read list. Ouch.

[@fusion9619]

@@neeltheother2342 same

[@LawrenceTimme]

Hard money is better for saving because when you can physically see your pile of money going down, when you hand over a physical item, you know you've traded something where with digital money you don't feel or see the difference.

[@abramgaller2037]

It is important an important point the inflation encourages criminality.

[@mdaniels6311]

How exactly? Moderate inflation is a normal and healthy thing for an economy to do. I agree its unjust that people's savings depreciate over time and my solution to that would be a state owned bank that guarantees you a rate of interest matched inflation. Apart from this, admittedly serious issue wih inflation, the increase in money supply is an essential thing to maintain a civilisation. And by the way 95% of all "printed" money comes from commercial banks. The idea its all the governments fault is a complete lie.

[@abramgaller2037]

@@mdaniels6311 I will start with your closing statement, "It is all governments' fault ," it is not a lie at all. Throughout the five thousand years of money's history, most of the time, there has been no inflation. Nothing good is accomplished by inflation, except for the financial elite, who can borrow massive amounts of money and pay it back with cheaper money .

[@DanHaiduc]

I believe the studies that say legumes are healthier than the protein-equivalent red meat. Other than that, this talk has been illuminating, and I thank you for it.

[@itzoma]

Definitely going to read it. Part 2 reminds me of Ethics of Money Production by Hülsmann.

[@LawrenceTimme]

The price of electricity here has gone up 15-20% here in the last year or two even though it's easier and there are more options to make electric than ever.

[@mdaniels6311]

Why would you expect electricity to be cheaper, just cause making cars is easier? These two things aren't related.

[@LawrenceTimme]

@@mdaniels6311 I didn't mention cars?

[@NavaidSyed]

The cap on the volume of bitcoin can be considered as a true cap because other cryptocurrencies will keep diluting it, until and unless Bitcoin establishes itself as a de facto currency.

[@markpalmer8083]

It can be considered a true cap, because it is and no one can change that. Just as the true cap on the number of centimeters in a meter. It has nothing to do with anything else.

[@NavaidSyed]

@@markpalmer8083 Cap in open and competitive markets is always relative. it depends on the relative strength of the brand.

[@LawrenceTimme]

Modern houses are crap. In the UK a 19th century house was built to last 1000 years. Now they are built and fall down straight away

[@dedsummer]

the future is fiat... sadly. hopefully, at some point, bitcoin. sooner rather than later.

[@mdaniels6311]

Why is a fixed quantity of money a good thing? I don't understand this thinking. If a very wealthy capitalist ended up with most of it in his account, how will the rest of the economy function? Money must be created in the form of commercial bank loans and govetbment deficit spending to keep civilisation moving. If you fixed the money supply, you'd cause immense harm to the economy. Also, fix it to what exactly? Gold only works for countries that have gold. Not rvrty country does, so there needs to be another yard stick to measure the value of different currencies. The best way is to let the free market decide, not randomly pegging it to any commodity you like (like gold or silver).

[@dedsummer]

@@mdaniels6311 well... this wealthy capitalist will have to buy stuff and use that money and thus distributing it into the larger economy. this requires everyone to be on a similar standard so there are a lot of things involved to have this work, but, that's the theory.

[@mdaniels6311]

@@dedsummer Trickle down econmics has been debunked time and time again by emperical reality. For example, Reagan's tax cuts lead to anemic growth in the economy, as well as the rise of inequality, which we see the results of today. It was quite simply, a policy failure. But the people who believe it cling to it like it's a religion.