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. 

Twitter: https://twitter.com/ProgrammableTx 
Book: https://www.amazon.com/dp/B0006C31O4 

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// OUTLINE // 
00:00:00 - Coming up 
00:00:21 - Intro 
00:01:54 - Helping Lightning Startups with In Wolf's Clothing 
00:02:40 - Introducing "The Twilight of Gold" Series 
00:04:05 - The Twilight of Gold: Myths and Realities 
00:09:07 - A Shift in the Currency Standard 
00:10:55 - Debt Monetization Leading to Currency Graveyard 
00:13:52 - Monetary Prism: From Gold to Bitcoin 
00:15:35 - Interest Coverage Ratio of the Government 
00:19:15 - Calculating the Federal Debt 
00:21:01 - Inflationary Forces and Deflationary Forces 
00:26:50 - Negative Real Yields 
00:27:50 - Money is the Mirror Reflection of the Economy it Serves 
00:29:46 - Political Influence on Money 
00:33:35 - Civilization Inherits the Attributes of the Money 
00:36:08 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet 
00:37:05 - Bitcoin Wouldn't Work in a Perfect World 
00:40:52 - Money is Essential to Human Rationality 
00:43:23 - Myths of the Gold Standard 
00:44:47 - First Myth: Britain's Shift to Gold Standard in 1925 
00:46:00 - Second Myth: Capitalism Led to the Great Depression 
00:47:17 - Third Myth: Gold's Shortage Caused the Great Depression 
00:49:31 - Probability of Hyperinflation 
00:50:55 - Lester's Updated View on Gold 
00:56:20 - China's Capital Account 
00:58:24 - Post Bretton Woods Mistakes by the US 
01:00:46 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet 
01:01:38 - Contemplating Drivechains of BIP 300 
01:06:32 - Problems of Pegging Fiat Money to Gold 
01:09:12 - Shanghai Gold Exchange 
01:13:53 - Political Role of Gold 
01:16:53 - Using Gold Revaluation Account to Cover Losses 
01:22:19 - Estimating the True Size of China's Gold Reserve

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