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#276 – Michael Saylor: Bitcoin, Inflation, and the Future of Money
Lex Fridman Podcast
What's the Problem With the Inflation Rate?
A million dollar bond at a 5% interest rate gives you $50,000 a year in risk-free income. The cost of Social Security or early retirement is $1 million when the interest rate is 5%. During the crisis of March of 2020, the interest rate went on a 10-year bond went to 50 basis points. So now the cost of that bond is $10 million. Inflation would be an awful problem for a 22-year-old starting their first job. But it would be characterized as a benefit to society by a conventional economist who would say, well, housing, asset values are higher because of interest rate fluctuation. And now the economy's got more wealth
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