"Either you don't have a fiat currency or you don't have a democracy. But the two things together, and this has been proven, cannot coexist happily without the complete erosion of purchasing power of a civilization and the complete erosion of an empire - which is exactly what has occurred and what has occurred throughout history.
The natural bedfellow for a fiat economy is a dictatorship.
The natural bedfellow for bitcoin is democracy."
~ Daniel Batten
In this episode I sat down with Daniel Batten, who discovered Bitcoin's environmental benefits before grasping its economic power, and his journey reveals something profound about the nature of fiat money itself.
How did we become trapped in a desire-based economy that rewards consumption over saving? Daniel traces this back to the 1920s propaganda campaigns that transformed capitalism from meeting needs to manufacturing wants—and explains why Bitcoin might be the antidote to a century of psychological manipulation. But here's what really caught my attention: if the natural state of fiat is dictatorship, what does that mean for small nations trying to maintain sovereignty?
From Bhutan's quiet accumulation of Bitcoin worth nearly half their GDP to Pakistan's strategic pivot away from IMF dependency, we're witnessing a fundamental shift in global power structures. Are we watching the end of financial colonialism? And could Bitcoin mining on landfills actually turn the waste of Western civilization into the foundation for sound money? This conversation will change how you think about money, consumption, and what it really means to fix the incentives.
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HRF: Subscribe for free to HRF's Financial Freedom Report to stay updated on our latest work advancing freedom tech and defending human rights around the world. (Link: https://hrf.org/financial-freedom-reports/)
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OFF: The Oslo Freedom Forum is a global human rights event by the Human Rights Foundation (HRF), uniting voices from activism, journalism, tech, and beyond. Through powerful stories and collaboration, OFF advances freedom and human potential worldwide. Join us next June. (Link: https://oslofreedomforum.com/)
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Pubky: Pubky is building the next web, a decentralized system designed to put control back in your hands. Escape censorship, algorithmic manipulation, and walled gardens by owning your identity and data. Explore the Pubky web and become the algorithm today. Don't forget to find me on my Pubky ID here: pk:5d7thwzkxx5mz6gk1f19wfyykr6nrwzaxri3io7ahejg1z74qngo. (Link: https://pubky.org/)
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