#567: You’ve Been Lied To Your Whole Life! with WAR MODE

Dec 23, 2024

In this discussion, Will Cole joins Marty and the WAR MODE duo to unravel the myths fueling our financial systems. They dissect how traditional finance is riddled with lies and the true advantages of Bitcoin. From addressing inflation to critiquing the banking industry, they advocate for Bitcoin as a revolutionary alternative. The conversation also echoes the message that Bitcoin isn't just about tech; it's a tool for empowerment against financial tyranny and censorship, offering a brighter future for everyone.

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ANECDOTE

Pre-Coiner's Curiosity

Will Cole is a pre-coiner interested in learning about Bitcoin.
The hosts of TFTC are open to discussing and explaining it.

INSIGHT

Dollar's Illusion of Legitimacy

The US dollar's legitimacy is an illusion, as its value can be diluted instantly.
The rapid increase in the monetary base since 2008 exemplifies this.

ANECDOTE

Initial Anger and Ron Paul's Influence

Bill was initially angry upon realizing the nature of the dollar.
Ron Paul's influence and witnessing the 2008 financial crisis sparked his interest in gold and later Bitcoin.

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Debt

The First 5,000 Years

David Graeber

In this book, David Graeber argues that debt has a much longer history than money and that it has played a central role in shaping human societies. He debunks the myth of barter as the precursor to money, instead proposing that credit systems and debt were the primary means of trade. Graeber examines how debt has been used as a tool for social control, influenced law, religion, and politics, and has led to periodic crises and debtor revolts throughout history. The book also discusses the moral and social implications of debt, suggesting that the concept of debt is more complex than a simple economic transaction[1][2][4].

The bitcoin standard

Saifedean Ammous

The Bitcoin Standard analyzes the historical context to the rise of Bitcoin, the economic properties that have allowed it to grow quickly, and its likely economic, political, and social implications. The book takes the reader on an engaging journey through the history of technologies performing the functions of money, from primitive systems to modern government debt. It explains the operation of Bitcoin as a decentralized, distributed piece of software that converts electricity and processing power into indisputably accurate records, allowing users to perform traditional monetary functions without relying on authorities or physical infrastructure. The book also explores common questions surrounding Bitcoin and its potential as a store of value and a network for final settlement of large payments, challenging government monopolies and offering a vision of money extricated from politics and borders.

Human action

A Treatise on Economics

Ludwig von Mises

Human Action is Ludwig von Mises' magnum opus, where he defends an a priori foundation for praxeology and methodological individualism. The book argues that the free-market economy outdistances any government-planned system and serves as the foundation of civilization. Mises explains complex market phenomena as the outcomes of countless conscious, purposive actions and choices of individuals. He critiques government attempts to regulate and control economic activities, emphasizing the futility and counter-productiveness of such interventions. The book is a systematic treatment of the whole body of social and economic relations, integrating various economic problems into a comprehensive system[2][4][5].

An Essay on Economic Theory

Essai sur la Nature du Commerce en Général

Richard Cantillon

This book, originally titled 'Essai sur la Nature du Commerce en Général', is a comprehensive treatment of economic theory that focuses on the structure and mechanics of emerging market economies. Cantillon is credited with being the first to describe the market process driven by entrepreneurship and is often called the 'father of enterprise economics'. The work was circulated privately in France before its publication in 1755 and has been recognized for its significant contributions to the field of economics, distinguishing it from later works like Adam Smith's 'The Wealth of Nations'. The current translation, provided by Mark Thornton and Chantal Saucier, offers a more accurate and lucid account of Cantillon's original text.

Strong Towns

Chuck Marohn