Saifedean Ammous is an Austrian economist and author of The Bitcoin Standard and The Fiat Standard. Please support this podcast by checking out our sponsors: - GiveWell: https://www.givewell.org/ and use code LEX - Scale: https://scale.com/lex - Uncruise: https://uncruise.com/pages/lex - BiOptimizers: http://www.magbreakthrough.com/lex to get 10% off - Athletic Greens: https://athleticgreens.com/lex and use code LEX to get 1 month of fish oil EPISODE LINKS: Saifedean's Twitter: https://twitter.com/saifedean Saifedean's Website: https://saifedean.com The Bitcoin Standard podcast: https://saifedean.com/podcast Books & resources mentioned: The Fiat Standard (book): https://amzn.to/3FmNfsy The Bitcoin Standard (book): https://amzn.to/3LRrcwA The Blocksize War (book): https://amzn.to/3LORQ9o The Theory of Money and Credit (book): https://amzn.to/3ykreZT Human Action (book): https://amzn.to/3w9LzP4 PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ Full episodes playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4 Clips playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOeciFP3CBCIEElOJeitOr41 OUTLINE: 0:00 - Introduction 1:33 - Money 14:38 - Gold standard 27:49 - Collective hallucination 33:39 - Austrian vs Keynesian economics 1:06:00 - Free market 1:22:29 - Monarchy 1:28:03 - Fiat money 2:14:53 - SWIFT system 2:27:43 - Bitcoin 2:34:00 - Satoshi Nakamoto 2:41:44 - Criticisms of Bitcoin 2:56:56 - Football/soccer 3:00:38 - Criticisms of Bitcoin continued 3:10:57 - Bitcoin Maximalism 3:23:20 - Proof of stake 3:40:26 - Central bank digital currency 3:51:39 - Michael Malice 3:53:52 - Advice for young people 4:00:01 - Palestine 4:11:40 - Mortality SOCIAL: - Twitter: https://twitter.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/lexfridman - Instagram: https://www.instagram.com/lexfridman - Medium: https://medium.com/@lexfridman - Reddit: https://reddit.com/r/lexfridman - Support on Patreon: https://www.patreon.com/lexfridman
Ten years in the making: the Bitcoin Standard meets the Network State. This is the Saifedean/Balaji crossover. It's about why the return of hard money means failed states will sell territory. And also why we do believe in a new birth of democracy, rather than monarchy. OUTLINE 0:38 - What is the Network State? 4:21 - A Group of Islands Separated by Internet 7:03 - Keynesianism is Communism for wimps 12:41 - American Keynesianism and Soviet Communism 14:40 - Chinese Communism is Disciplined by International Markets 19:10 - Batson on how the Gaokao Explains China 21:10 - Nail Houses Prove China Has (Some) Property Rights 31:23 - China Might Solve the Calculation Problem 35:06 - The Shouting Retreat of the US Military 38:08 - Chinese Bonds, Gold, Digital Gold, Internet Companies 41:30 - How China Obviated the Thucydides Trap 44:28 - Bitcoin as a Global Government of Governments 52:22 - Dollar Inflation is Global Taxation 54:32 - Potemkin American 59:46 - Why Does Money Printing Work for China? 1:05:09 - From Great Depression to Great Inflation 1:06:30 - We Have No Movies On How the Dollar Ends 1:13:32 - Maximalists have Bukele as Ingroup 1:15:01 - Democrats fought China and lost 1:23:00 - Power Abhors a Vacuum 1:29:07 - Chinese Communists vs Bitcoin Maximalists 1:36:00 - No Such Thing as Private Security 1:39:01 - The Fed is Why You Have Less Guac at Chipotle 1:50:03 - Printing Out the Internet in the Physical World 2:01:36 - Saifedean's case for Monarchy vs Democracy 2:05:42 - Balaji's case for Technodemocracy vs Monarchy 2:27:21 - The Future and the Past Against the Present LINKS Technodemocracy: https://www.youtube.com/watch?v=AT3mwJOdSHQ SOCIAL https://saifedean.com/tbs http://x.com/saifedean https://ns.com