The Keynesian Accounting System

Rowais Hanna operates Coinbits' Twitter account, and has used it to publish fascinating in-depth investigations into the common myths of modern macroeconomics. He joins us to discuss the Consumer Price Index, how it is calculated, and the endless justifications used to adjust it. We also discuss the mythical origins of the 2% inflation target, and the trade-off between unemployment and inflation, and why supposedly empirical economists refuse to ever admit it is invalid. Rowais also discusses why he views bitcoin as the only way out of this mess, and how Coinbits helps onboard newcomers to bitcoin in a smooth and easy-to-understand way. We conclude with a discussion of Rowais' thoughts on bitcoin through a Biblical lens.

References (All links available on saifedean.com/podcast/143-macro-myths-with-coinbits-rowais-hanna)

• Rent Equivalence Fiat-splanation
• CPI “misconception” response from BLS
• NY Fed Research connecting credit expansion and tuition rising
• Rowais’ essay on Bitcoin through a Biblical Lens
• The Origins of 2 Percent Inflation Target – Mises .org 
• Rowais’ tweet about being at the Egyptian Central Bank  
• Sheikh Imam, The Ballad of Beans and Meat
• Coinbits blog 
• The philips curve is actually a blob
• Coinbits ultimate Thread
• Saifedean’s first book, The Bitcoin Standard.
• Saifedean’s second book, The Fiat Standard.

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