The Beginning of a Currency Debasement in Indonetia

Indonesian Bitcoin specialist and educator Dea Rezkitha joins me for an in-depth conversation into how money has shaped historic political and economic power structures in Indonesia. Dea also looks forward to how Bitcoin can provide people with self-agency and greater resilience.

Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/

GUEST
Dea’s Twitter: https://twitter.com/dearezkitha
Dea’s Linktree: https://linktr.ee/dearezkitha
Dea’s Podcast: https://open.spotify.com/show/26NeuEmwYtb3iMnp2IFKyp?si=a34a81ad7a6342af
Kelas Bitcoin: https://kelasbitcoin.com/
My Bitcoin Story: http://bit.ly/MyBitcoinStory

PODCAST
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400
Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1
RSS Feed: https://feeds.simplecast.com/MLdpYXYI Transcript:

OUTLINE
00:00:00 “What is Money?” Intro
00:00:08 Kelas Bitcoin as an Indonesian-centric Resource for Bitcoin Newbies and Enthusiasts
00:03:47 Dalio’s Framework of The Big Cycle: Rises and Declines of Big Empires
00:09:47 Money as a Factor and Tool in the Changing World Order
00:12:16 The History of Indonesia as a Trading Port
00:17:37 How the Dutch Gained Control By Establishing VOC as the First Publicly Traded Company
00:22:00 NYDIG
00:23:08 How VOC as a Sovereign Power Built the Boats to Riches
00:28:55 Exploitation Using Short-Term Incentives To Create More Plantation Workers
00:33:32 “If You Can Control The Money, You Can Sculpt History”
00:40:35 Indonesia Transitioning From a Dutch Colony to the Japanese Occupation
00:51:40 Destabilizing the Indonesian Rupiah to Reclaim it as a Colony
00:58:17 Economic Consequences of Indonesia Having To Pay a 4.9 Billion Dutch War Debt
01:05:42 Constant Debasement of Rupiah Creates Hyperinflation of 500% in 1966
01:10:55 The State Grows while Money Associated with Capitalism Declines
01:14:58 Foreign Investment Opens with Cascades of Corruption and Control
01:19:53 “Life Finds a Way”: The Dynamic Nature of Markets During Booms and Busts
01:24:48 1997-98 Mark Larger Economic Contractions, Civil Unrest, and Political Fallout
01:28:54 Production vs. Consumption: Indonesia as a Microcosm of The Big Cycle
01:34:34 Post-Asian Financial Crisis and the Next Changing Order Away From Fiat
01:40:15 60% Unbanked in Indonesia: A Hole That Bitcoin Can Fill
01:43:51 Bitcoin is Boring Money: Safe, Resistant, and Harder to Confiscate
01:50:46 Indonesia is at a Crossroads Between CBDC and Bitcoin

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