Saifedean Ammous is an Austrian economist and author of The Bitcoin Standard and The Fiat Standard. Please support this podcast by checking out our sponsors: – GiveWell: https://www.givewell.org/ and use code LEX – Scale: https://scale.com/lex – Uncruise: https://uncruise.com/pages/lex – BiOptimizers: http://www.magbreakthrough.com/lex to get 10% off – Athletic Greens: https://athleticgreens.com/lex and use code LEX to get 1 month of fish oil EPISODE LINKS: Saifedean’s Twitter: https://twitter.com/saifedean Saifedean’s Website: https://saifedean.com The Bitcoin Standard podcast: https://saifedean.com/podcast Books & resources mentioned: The Fiat Standard (book): https://amzn.to/3FmNfsy The Bitcoin Standard (book): https://amzn.to/3LRrcwA The Blocksize War (book): https://amzn.to/3LORQ9o The Theory of Money and Credit (book): https://amzn.to/3ykreZT Human Action (book): https://amzn.to/3w9LzP4 PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT & CONNECT: – Check out the sponsors above, it’s the best way to support this podcast – Support on Patreon: https://www.patreon.com/lexfridman – Twitter: https://twitter.com/lexfridman – Instagram: https://www.instagram.com/lexfridman – LinkedIn: https://www.linkedin.com/in/lexfridman – Facebook: https://www.facebook.com/lexfridman – Medium: https://medium.com/@lexfridman OUTLINE: Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. (00:00) – Introduction (07:53) – Money (20:58) – Gold standard (34:09) – Collective hallucination (39:59) – Austrian vs Keynesian economics (1:12:20) – Free market (1:28:49) – Monarchy (1:34:23) – Fiat money (2:21:13) – SWIFT system (2:34:03) – Bitcoin (2:40:20) – Satoshi Nakamoto (2:48:04) – Criticisms of Bitcoin (3:03:16) – Football/soccer (3:06:58) – Criticisms of Bitcoin continued (3:17:17) – Bitcoin Maximalism (3:29:40) – Proof of stake (3:46:46) – Central bank digital currency (3:57:59) – Michael Malice (4:00:12) – Advice for young people (4:06:21) – Palestine (4:18:00) – Mortality

Saifedean Ammous, an economist and author of 'The Bitcoin Standard', joins builders Austin Tunnel and Jaime Izurieta-Varea to dissect how monetary policy shapes architecture and economic behavior. They delve into the impact of easy money on construction aesthetics, contrasting historical beauty with modern utilitarianism. The trio discusses the evolution of money, inflation’s effects on housing affordability, and the potential of nuclear energy tied to Bitcoin's influence. Their insights challenge current societal values and advocate for a return to sound money.

Dr. Saifedean Ammous discusses the flaws of the fiat system, the rise of Bitcoin, and the transition to crypto economy. Topics include hard money vs. fiat, inflation vs. deflation, debt slavery, and Bitcoin consuming the bond market. He also explores how printing money is destructive, the impact of Bitcoin on the gold standard, and the potential disruption of traditional financial systems.

This episode was recorded on September 8th 2021.Saifedean Ammous is an expert on Bitcoin with a PhD from Columbia University. He joins Dr. Peterson to discuss decentralization, different schools of economics, the Fiat vs. Bitcoin standards, and much more.Dr. Ammous is the author of The Bitcoin Standard, widely considered the essential book on the economics of Bitcoin. He also hosts a podcast of the same name. His new book, The Fiat Standard, should be out in November._Find Saifedean here: https://twitter.com/saifedeanSaifedean’s online learning platform: http://saifedean.com(20% off by using the code “Peterson”)The Bitcoin Standard: http://saifedean.com/thebitcoinstandardThe Fiat Standard: http://saifedean.com/thefiatstandard_________[00:18] Intro[02:34] What are hard monetary assets?[06:13] The argument for bitcoin being the best hard money ever created[09:11] "Bitcoin only has users... no admins. There is nobody with a master key" - Saifedean Ammous[10:36] How the Bitcoin network functions using "consensus parameters"[15:49] "The way that Bitcoin came about seems... virtually impossible to believe" - Jordan Peterson[18:27] Other schools of economics (Austrian) vs. the most common today (Keynesian)[20:46] "So the Austrian school of economics... tilts you more towards an appreciation of non-centrally controlled, distributed networks, and emphasis on the individual actor" - JP[23:25] Paul Samuelson and communist economic expectations of centralized planning post-WW2[25:27] Dr. Ammous' academic background[27:14] Climate change. The push towards central planning, implying certain people or groups know the exact consequences and solutions to future economic developments[29:41] "I've been struck by the problem of unintended consequences and the irreducible complexity of things. We can talk about the problem of climate change, but those words are incredibly deceiving" - JP[34:16] Highlighting the crucial role of the entrepreneur in Austrian economics[40:46] Saifedean reflects on the views held by the central bank, governments, and mainstream economists on money—as opposed to Bitcoin's structuring and the Austrian school of thought[41:43] "From the Austrian perspective, money is a product of the market and not the invention of the state. The state's meddling in money... is irrational and cannot succeed for the same reasons central planning does not succeed" - SA[45:50] Overview of Dr. Ammous' book The Fiat Standard[54:40] Current inflation in Western democracies. The devastating effect of hyperinflation on the average person[58:15] "Money is an incredible technology for lowering our time preference" - SA[58:59] "The 20th century was a global trainwreck of watching the money preference rise. Generation after generation... witnessed their money devalue" - SA[01:02:32] Why some efforts in energy production are misguided[01:06:39] The Fiat Standard[01:10:29] Why are we allowing people to mine bitcoin?[01:12:46] The genius that went into the production of the Bitcoin code[01:23:14] The crazy reality of decision-making at climate change panels[01:26:36] Fiat-based currency jobs and the Zoom warriors disconnected from the physical world[01:31:09] "A lot of the problems of the 20th century, in my opinion, have their roots in highly inflationary fiat currency" - SA[01:31:18] Covering some of the common objections against Bitcoin[01:39:45] "We are always going to find more reasons to print money" - SA[01:41:43] Ammous’ online learning platform[01:48:29] The growth of Saifedeen.com and the parameters attributed to its success[01:50:05] The possibility of decentralizing societal accreditation[01:50:21] "I've talked to seriously wise academics who know that there is almost zero financial knowledge in universities [today]... There is tremendous residual value, however, in the accreditation" - JP[01:56:18] Wrapping up#Crypto #FiatStandard #Bitcoin #JordanPeterson #Decentralization

Saifedean Ammous discusses the history of conflict in Palestine, violation of private property, propaganda of mainstream media, and Bitcoin's potential to mitigate future conflicts.

Economist Saifedean Ammous and George Selgin, director of the Center for Monetary and Financial Alternatives at the Cato Institute, debate whether Bitcoin can replace government-issued money. They discuss the challenges Bitcoin faces, such as competing with an incumbent currency and the safety of transacting with Bitcoin. They also explore the vulnerabilities and challenges of Bitcoin, including hacking and value volatility, and compare Bitcoin's transaction costs to traditional methods. Additionally, they discuss the potential impact of the gold standard and the distinction between medium of exchange and means of payment.

Saifedean Ammous, a provocative thinker on the Israel-Palestine conflict, joins commentator Konstantin Kisin for a fiery debate. They tackle the chaos of communication in wartime ethics and dive into the complex identities shaping their views. The discussion escalates as they confront the morality of civilian casualties and the contrasting narratives from both sides. Personal experiences color their analyses of violence, genocide, and the choking infrastructure of Gaza, highlighting the urgent need for nuanced dialogue amidst the turmoil.

Saifedean Ammous discusses the risks of Central Bank Digital Currencies and Biden's illegal bombing in Yemen. The podcast also explores Biden's unauthorized bombing in Yemen and the lack of congressional debate. They delve into the evolution of journalism in the digital age and the implications of central bank digital currencies, including increased censorship and government control over financial transactions. They raise concerns about the lack of public debate and scrutiny over military actions, and explore the Democrats' opposition to strikes in Yemen and unconditional support for Israel. Finally, they discuss supply chain disruptions, the Davos conference, and the perception of anti-Semitism in the United States.

Saifedean Ammous, economist & author of The Bitcoin Standard, discusses topics such as Austrian vs. Keynesian economics, surviving in a university setting, marketable skill sets, sh*tcoins & Ethereum, Bitcoin dominance, cast iron vs. stainless steel pans, and a takedown of modern art.

Stephan interviews Saifedean Ammous, Austrian Economics Professor and author of The Bitcoin Standard. They explore Bitcoin's potential as sound money, its volatility and challenges in establishing stability, the importance of money as a store of value, Bitcoin's block difficulty adjustment, its monetary policy and competition, the potential for fractional reserve banking on Bitcoin, and debunking Keynesian economics.