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The "What is Money?" Show
Will America Adopt Bitcoin? with Lawrence Lepard (WiM173)
Jun 6, 2022
01:30:58
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Quick takeaways
- Fiat currency is broken and a new monetary system is needed, such as Bitcoin.
- Government should focus on preserving property rights and acting as a fair referee in society.
- Decentralization and a smaller role for nation-states are predicted for the future.
- People will increasingly question authority and seek alternative solutions like Bitcoin as the current system collapses.
Deep dives
The failure of fiat currency and the need for a better system
The podcast episode discusses how fiat currency has become broken and that there is a need for a better monetary system. The speaker emphasizes the hyperinflationary future that is anticipated and the negative impact it will have on individuals. They also highlight the role of centralization and the negative effects it has on society, causing wealth inequality and a system rigged in favor of the elites. The solution proposed is the adoption of Bitcoin and its ability to challenge the current monetary system, leading to a more decentralized and fair society.
The importance of property rights and the role of government
The speaker argues that the proper role of government should be to preserve property rights and act as a fair referee in society. They mention the necessity of a police force, courts, and jails to ensure the protection of individuals from psychopaths and maintain law and order. However, they express skepticism about the size and scope of government, suggesting that a smaller, more local approach would be preferable. They also question the need for government involvement in foreign aid and unnecessary wars, advocating for a system focused on individual responsibility and fairness.
The coming transformation towards decentralization
The podcast episode predicts a future transformation towards decentralization and a smaller role for nation-states. The speaker discusses the potential for smaller, more localized societies that are focused on individual freedom and personal responsibility. They believe that talent and capital will flow to places where they are treated best, and there will be a shift towards more forward-thinking nations that embrace the principles of Bitcoin and decentralization. The ultimate vision is a world where governments act as fair referees and citizens have greater control over their own lives and property.
The mass psychosis and the need for a paradigm shift
The podcast episode explores the concept of mass psychosis and the notion that people are often willing to surrender their agency to a larger collective, leading to destructive behaviors and governance. The speaker emphasizes the importance of questioning authority and narratives, highlighting the role of the internet in allowing access to diverse viewpoints and alternative sources of information. They predict that as the current system collapses and hyperinflation looms, people will increasingly realize the flaws of the existing monetary system, leading to a paradigm shift towards alternative solutions like Bitcoin.
The Suppression of Gold and the Potential for Bitcoin
The podcast explores the idea that gold prices have been suppressed through various mechanisms, such as gold derivatives and fractional reserve gold. The speaker also suggests that the same suppression could potentially happen to Bitcoin in the future. The need for monetary reform is highlighted, including the idea of outlawing derivatives. The speaker acknowledges the potential conflict between libertarian principles and the banning of derivatives, but ultimately believes that a shift towards hard money like Bitcoin could naturally resolve these issues.
The Shift Towards Outside Money and the Role of Bitcoin
The podcast discusses how the world is shifting from inside money (fiat currencies) to outside money (assets like gold and Bitcoin). The freezing of bank accounts and confiscation of foreign currency reserves serve as examples of how governments can exercise control over inside money. Bitcoin is highlighted as a self-sovereign, counterparty-free form of money that cannot be manipulated or frozen. The speaker emphasizes the value of networks and the exponential growth potential of Bitcoin, comparing it to the rise of large tech companies like Amazon and Facebook.
The Current Monetary System, Hyperinflation, and the Rise of Bitcoin
The podcast delves into the current state of the fiat monetary system and the factors that have led to its potential downfall. The speaker discusses how excessive money printing, geopolitical events, and the need to service growing debt have contributed to a fragile financial system. The concept of hyperinflation is explained, along with the psychological threshold that triggers it. Bitcoin is presented as an alternative form of money that cannot be debased, and the potential for a global monetary reset is discussed, with Bitcoin and gold emerging as sound alternatives to fiat currencies.
Investment Manager and Austrian Economist Lawrence Lepard joins me for a conversation on the history of currency debasement, how we are living in "peak fiat", and how hard times will require new leadership in America.
Be sure to check out Swan Private, the trusted Bitcoin financial services provider for high-net-worth individuals and businesses worldwide: https://www.swanbitcoin.com/private/
Guest
Lawrence Twitter Account: https://twitter.com/LawrenceLepard
Lawrence's PE Firm: https://www.ema2.com/team
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
Outline
00:00:00 “What is Money” Intro
00:00:08 Learn about Bitcoin with Swan Private at SwanPrivate.Com
00:01:37 What is Money?
00:03:39 What Properties make Gold Valuable?
00:06:14 How Gold Advanced Human Civilization
00:07:38 The Attack Vector “Stability” brings
00:10:05 Does Lack of Financial Education cause Financial Corruption?
00:11:39 Timeline on how we chose Gold
00:13:05 Why did we leave a Gold Standard?
00:20:24 Can Productivity & Growth Plateau?
00:22:05 Money Printing and War Financing
00:25:57 The Risks of Statism
00:31:09 Bitcoin Giving you a Chance by Opting Out
00:33:24 Private Property leading to Individualism
00:35:27 Discussing Mass Formation Psychosis
00:37:26 Will Mass Formation Psychosis increase as we print more Dollars?
00:39:18 Where is this headed?
00:45:14 Is the Nation State Model going to Dissolve or Reform?
00:47:23 Watch "Hard Money with Natalie Brunell" From Swan Studios & Bitcoin Magazine!
00:48:09 Take Control of Your Healthcare with CrowdHealth!
00:49:18 What Happens to Government under the Sovereign Individual Thesis?
00:51:55 Viewing the State through a Christian Lens
00:53:30 Was Gold’s Price Suppression Planned/Organized?
00:56:26 Russian Sanctions & Bretton Woods events in American History
01:09:16 Freezing of Bank Accounts in Canada & Russia
01:14:37 Mistakes Larry made as an Investor & Understanding Network Effects
01:18:54 Byzantine Generals Problem & Nations Inability to get around it
01:21:03 America Adopting Bitcoin
01:24:33 Is America Lacking Critical Thinkers?
01:26:35 New Leaders in America
01:28:57 Speaking out about what is going on in Society
01:30:10 Where to find Larry!
01:30:43 “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
Swan Private guides high-net-worth individuals and businesses in all areas of Bitcoin strategy: https://www.swanbitcoin.com/private/
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Okcoin is an innovative and education-focused cryptoasset exchange platform—earn $50 in free Bitcoin by signing up at: https://okcoin.com/breedlove
Join Me At Bitcoin 2023, pre-order your tickets now (discount code BREEDLOVE): https://b.tc/conference/2023
Automatic Recurring Bitcoin Buys and Withdrawals: https://www.swanbitcoin.com/breedlove/
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