64. Fiat economic models
The Bitcoin Standard Podcast
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Investment Bank Equity Analysis - It's All Fiat
It's amazing to make those reports happen. You've got teams of tens of very smart people crunching at keyboards all year long in order to come up with these estimates. And then three months later, the models completely been destroyed by reality because oil prices gone triple the highest estimate that they had ever put as their upper bound or a third of the lowest estimate. So it really doesn't matter in the end. All these people live in Fiat world and in Fiat world results are optional. That is precisely the reason why this happens in investment bank equity analysis because that is prime Fiat world. It is right next to the money pump.
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