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BTC149: Parallels to the Roman Empire w/ Dr. Peter St. Onge (Bitcoin Podcast)

Sep 27, 2023

01:04:54

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Dr. Peter St. Onge, an expert on the parallels between the Roman Empire and current economic trends, discusses the causes of inflation after 2020, China's economic challenges, social issues during the Roman debasement, thoughts on Bitcoin and gold, and the decline of empires.

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Quick takeaways

Economic mismanagement, excessive government spending, and predatory taxation led to the decline of the Roman Empire and are similar patterns witnessed in today's governments.

Government intrusion into the economy, corruption, and excessive corporate influence are contributing to the decline of societies, with industries benefiting from government policies exploiting the public.

The US is losing its dominant global currency status due to policies, such as seizing Russian-held dollars, which have pushed nations to diversify away from the US dollar.

Deep dives

Economic mismanagement and inflation

The Roman Empire's decline was marked by economic mismanagement, excessive government spending, and predatory taxation. Similarly, today's governments are running massive deficits and printing money, leading to inflation and a decline in the value of currency.

The Importance of Hard Money and Why Bitcoin

03:49

The Pros and Cons of De-Dollarization

01:51

The Troubles in China

01:22

Understanding Fractional Reserve Banking and the Value of Bitcoin

01:21

Introduction

2min

Inflation and the COVID Money Supply

10min

Inflation, M2 Growth Rate, and the Mystery of the Overhang

7min

China's Economic Challenges

19min

Exploring the User Experience of Buying and Sending Bitcoin

4min

The Decline of Empires and the Role of Fiat Money

24min

Trust and the Differences Between Gold and Bitcoin

3min

Preston Pysh and Dr. Peter St. Onge cover some of the current macro events and themes while also talking about a few parallels to the previous global superpowers of the past, like the Roman Empire.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

01:44 - Peter's overview of what's causing the inflation that happened after 2020.

20:39 - What's happening in China and does Peter buy into all the headlines that it's got economic problems?

33:59 - Peter's thoughts on Bitcoin and how it's going to be relevant moving forward.

39:08 - A broad overview of the cyclical nature of great empires and Rome in particular.

39:08 - The currency issues in Rome and what caused them to occur.

49:22 - What type of social issues were experienced during the great Roman debasement?

01:02:21 - Peter's thoughts on Gold vs Bitcoin.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Peter's Youtube Channel.
Peter's website.

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