Bob Murphy joins me in-person at ARC Forum 2023 in London to discuss his book, 'Understanding Money Mechanics.' We talk about the nature of money, the cartels of central banking, the modern monetary theory, and the optimism of artificial intelligence. 

Bob Murphy is an author and economist. He has authored several economics textbooks. He is also the chief economist at Infineo. 

This podcast was filmed at the Alliance for Responsible Citizenship Conference in London, England.

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// OUTLINE // 
00:00:00 - Coming up 
00:00:37 - Intro 
00:02:11 - Helping Lightning Startups with In Wolf's Clothing 
00:02:57 - Introducing Bob Murphy 
00:03:29 - Introduction to Bob's Book 'Understanding Money Mechanics' 
00:05:05 - What is Money? 
00:06:21 - Difficulty of Understanding Money 
00:10:47 - Money as an Attribute 
00:12:49 - Fiat Currency and Fiduciary Media 
00:13:57 - How Do Banks Create Money? 
00:16:39 - Economic Mismatch of Banking System 
00:19:09 - Faults with Fractional Reserve Banking 
00:22:33 - Contract Violation by the Bank 
00:24:27 - Emergence of Central Bank 
00:29:13 - The Cartels of Central Banking 
00:31:20 - Global Collusion of Central Banking 
00:35:03 - Run Your Business from Anywhere with NetSuite 
00:36:07 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet 
00:37:04 - Modern Monetary Theory 
00:41:53 - Previlleged Market Actor 
00:43:40 - Free Market Interest Rate 
00:44:40 - Supply Creates Its Own Demand 
00:47:33 - Keynesian Economics and First-Order Thinking 
00:49:49 - Incentives of Pseudo Economics 
00:51:02 - Symbiotic Relationship of Central Banking 
00:54:55 - Stolen Purchasing Power 
00:56:00 - Description and Criticism of MMT 
00:59:40 - Optical Illusion of Accounting 
01:02:39 - Discussing Fiat Currency 
01:05:37 - Enhance Your Brain Power with Mind Lab Pro 
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01:07:46 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet 
01:08:37 - 2008 vs. 2020 Financial Crisis 
01:12:33 - Forecasting Inflation 
01:15:58 - Outlook on the Economic Future 
01:18:15 - Optimism of Artificial Intelligence 
01:23:13 - Where to Find Bob on the Internet

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