The Bitcoin Standard Podcast 193. Broken Money with Lyn Alden
163 snips
Oct 31, 2023 
Lyn Alden, author of the best-selling book 'Broken Money', joins the podcast to discuss difficulties in creating a good monetary system, the impact of technology and corruption, and the potential of Bitcoin as an alternative solution. They also explore the challenges of using gold for industrial purposes, Bitcoin's role in fixing the monetary system, and the petro dollar system's impact on the international market.
AI Snips
Chapters
Transcript
Episode notes
Broken Money and the Telegraph
- The invention of the telegraph made information faster than physical gold, impacting money.
- This speed gap led to centralized systems prone to corruption, a trend Bitcoin aims to reverse.
Money as Credit
- Money became credit with the telegraph, as physical gold was no longer moved for transactions.
- This shift made money indistinguishable from credit, impacting the sanctity of fiat money.
Money as a Ledger
- Money functions as a ledger, whether controlled by nature (commodity money) or humans (credit).
- The key question is who controls the ledger, highlighting the trust and manipulation aspects of money.