54. Bitcoin and the Global Economy with Lyn Alden
The Bitcoin Standard Podcast
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What Are the Differences Between the 2020s and the 1970s?
In the 1940s when they had high inflation, central banks actually capped yields so they held short term rates at near zero. The 70s were different because since federal debt as a percentage of GDP was low and generally private debt was pretty low as apercentage of GDP, the central bank was able to raise rates to combat that inflation. And so we're in an environment more at the 40s where even if they were to get inflation, they'd be unlikely to be able to do anything about it. China spearheading central bank digital currency route is partially tied to their incentives around the current system. They like that additional control that the central bank digital currencies provide. Europe's also interested in
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