
SLP422 John Haar Choosing Bitcoin & Austrian Econ over 13 years in TradFi
Stephan Livera Podcast
00:00
Legacy Finance
It's commonly accepted in legacy finance that if an entity issues new shares of stock, you are diluting the ownership of all the other shareholders. But then when you start to look at the banking system, you start to see a bank create new bank notes or bank tokens. When they circulate on par with every other claim and every other form of money, that's problem number one. And then problem number two, when that entity gets into trouble and the government bails them out, you just socialize the losses with everyone else in society. So yeah, I think it's a pretty unworkable system.
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