Bankless 140 - The Future is Fiat | Noah Smith (Noahpinion)
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Oct 17, 2022 
Noah Smith, an insightful writer and economist renowned for his independent analyses, dives into the complexities of geopolitics and cryptocurrency. He discusses the notion of an ongoing economic war and the shifting alliances globally. Challenging common misconceptions, Noah presents a compelling case for fiat currencies while examining the role of cryptocurrencies in conflict. The conversation also touches on the implications of U.S. and China relations, Taiwan tensions, and the influence of decentralized finance in the Web3 era.
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Stanislav Petrov Day
- Noah Smith recounts the story of Stanislav Petrov, a Russian officer who averted nuclear war in 1983.
- Petrov correctly identified a false alarm of a US nuclear attack, preventing a retaliatory strike.
Russia's Decline
- Russia's decline stems from its oil-based economy, hindering broad-based societal development.
- This dependence discourages intellectualism and technological advancement, as seen in their disregard for "nerds."
The War Economy
- The current global landscape is characterized by a "war economy", distinct from the neoliberal era.
- This involves economic competition and indirect conflict, resembling the US support for Britain before WWII.
