BTC057: How Fiat Works w/ Dr. Saifedean Ammous (Bitcoin Podcast)
We Study Billionaires - The Investor’s Podcast Network
Understanding Shadow Banking and Global Monetary Systems
This chapter explores shadow banking and contrasts it with conventional banking practices, highlighting the shift in money creation. It also discusses the IMF's role as a global central bank and the effects of central planning on resource allocation in developing economies.
IN THIS EPISODE, YOU’LL LEARN:
- 00:51 - What gave Saifedean the idea for the new book.
- 04:15 - What are the four key elements of how the Fiat system works?
- 10:38 - What surprised Saifedean the most about what value fiat brings to the existing economy.
- 15:39 - Inflation is a vector - what does that mean?
- 24:27 - How has fiat corrupted the existing incentives in food, academia and other areas?
- 36:19 - What is the shadow banking system?
- 37:59 - What's the purpose of the IMF?
- 58:10 - How does fiat mess with economic calculation?
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
- Buy The Fiat Standard on Amazon.
- Buy the Bitcoin Standard on Amazon.
- Dr. Saifedean Ammous Twitter.
- Dr. Ammous's podcast and website.
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