Intricacies of The Gold Standard | The Twilight of Gold Series | Episode 6 (WiM153)
The "What is Money?" Show
The Hack of a Cort.
"We'rea the end of an old system, and something new is going to come out of it," he says. "And all these things point to that." 'I think we are at the inflection point of one system tipping over into a new,' writes David Frum.
My friend and fellow student of money codenamed "Lester" joins me for a multi-episode conversation exploring the excellent book "The Twilight of Gold" by Melchior Palyi.
Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/
GUEST
Lester's Twitter: https://twitter.com/ProgrammableTx
BOOK
The Twilight of Gold: https://archive.org/details/twilightofgold190000paly/
PODCAST
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400
Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1
RSS Feed: https://feeds.simplecast.com/MLdpYXYI
Transcript:
OUTLINE
00:00:00 “What is Money?” Intro
00:00:08 Summarizing the Intricacies of the Gold Standard
00:05:48 Interest Rate Manipulation and the “Race to Debase”
00:09:53 Monetary Manipulation and the Inevitability of Balance of Trade Breakdowns
00:15:11 The US Dollar Hegemony and the Evisceration of its Domestic Industrial Economy
00:19:32 When Money is Sound, Economic Organization is Largely Apolitical
00:22:53 The Inflexibility of the Gold Standard Gave Banks the Freedom to Operate Sustainably
00:27:06 Is the Prevalence of Debt is Inverse to the Portability of Money?
00:32:06 Commercial Debt as a “Tokenization” of the Delivery of Products and Services
00:34:57 World War 1 as an Accelerant to the Politicization of Money
00:40:16 NYDIG
00:41:24 A Radical Shift in Schelling Points from a Gold to a Fiat Standard
00:46:17 The Modern Specter of Both Inflation and Deflation…
00:49:49 Exploring an Inflection Point from an Old to a New Monetary System
00:56:00 How a Market for Borrowing Will Emerge on a Bitcoin Standard…
01:02:07 The Advantage of a Liquid Money Market
01:07:22 Saved Capital is a Narrower Limit on Production than Knowledge and Technology
01:10:45 “What is Money?” Outro
SOCIAL
Breedlove Twitter: https://twitter.com/Breedlove22
WiM? Twitter: https://twitter.com/WhatisMoneyShow
LinkedIn: https://www.linkedin.com/in/breedlove22/
Instagram: https://www.instagram.com/breedlove_22/
TikTok: https://www.tiktok.com/@breedlove22?lang=en
All My Current Work: https://linktr.ee/breedlove22
WRITTEN WORK
Medium: https://breedlove22.medium.com/
Substack: https://breedlove22.substack.com/
WAYS TO CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Sats via Strike: https://strike.me/breedlove22
Sats via Tippin.me: https://tippin.me/@Breedlove22
Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove
Dollars via Venmo: https://venmo.com/code?user_id=1784359925317632528
The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true
RECOMMENDED BUSINESSES
Worldclass Bitcoin Financial Services: https://nydig.com/
Join Me At Bitcoin 2022 (10% off if paying with fiat, or discount code BREEDLOVE for Bitcoin): https://www.tixr.com/groups/bitcoinconference/events/bitcoin-2022-26217
Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/
Buy Bitcoin in a Tax-Advantaged Account: https://www.daim.io/robert-breedlove/
Buy Your Dream Home without Selling Your Bitcoin with Ledn: https://ledn.io/en/?utm_source=breedlove&utm_medium=email+&utm_campaign=substack
The AI-powered Podcast Player
