Bob Murphy joins me in-person at ARC Forum 2023 in London to discuss his book, 'Understanding Money Mechanics.' We talk about the nature of money, the cartels of central banking, the modern monetary theory, and the optimism of artificial intelligence.

Bob Murphy is an author and economist. He has authored several economics textbooks. He is also the chief economist at Infineo.

This podcast was filmed at the Alliance for Responsible Citizenship Conference in London, England.

// GUEST //
Website: https://robertbryce.com/
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// OUTLINE //
00:00:00 - Coming up
00:00:37 - Intro
00:02:11 - Helping Lightning Startups with In Wolf's Clothing
00:02:57 - Introducing Bob Murphy
00:03:29 - Introduction to Bob's Book 'Understanding Money Mechanics'
00:05:05 - What is Money?
00:06:21 - Difficulty of Understanding Money
00:10:47 - Money as an Attribute
00:12:49 - Fiat Currency and Fiduciary Media
00:13:57 - How Do Banks Create Money?
00:16:39 - Economic Mismatch of Banking System
00:19:09 - Faults with Fractional Reserve Banking
00:22:33 - Contract Violation by the Bank
00:24:27 - Emergence of Central Bank
00:29:13 - The Cartels of Central Banking
00:31:20 - Global Collusion of Central Banking
00:35:03 - Run Your Business from Anywhere with NetSuite
00:36:07 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet
00:37:04 - Modern Monetary Theory
00:41:53 - Previlleged Market Actor
00:43:40 - Free Market Interest Rate
00:44:40 - Supply Creates Its Own Demand
00:47:33 - Keynesian Economics and First-Order Thinking
00:49:49 - Incentives of Pseudo Economics
00:51:02 - Symbiotic Relationship of Central Banking
00:54:55 - Stolen Purchasing Power
00:56:00 - Description and Criticism of MMT
00:59:40 - Optical Illusion of Accounting
01:02:39 - Discussing Fiat Currency
01:05:37 - Enhance Your Brain Power with Mind Lab Pro
01:06:44 - Take Control of Your Healthcare with CrowdHealth
01:07:46 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet
01:08:37 - 2008 vs. 2020 Financial Crisis
01:12:33 - Forecasting Inflation
01:15:58 - Outlook on the Economic Future
01:18:15 - Optimism of Artificial Intelligence
01:23:13 - Where to Find Bob on the Internet

// PODCAST //
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