The Importance of Uncertainty

Mises: Why do we hold money is because there are future cash flows that are uninsurable. He says Bitcoin will steal gold's monetary premium, but he doesn't think it will lose a hundred percent of its value within the next 100 years. Mises: Gold will keep 1 to 3% of its monetary premium just because of that slight bit of risk that Bitcoin actually fails.

Transcript

Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.