The Bitcoin Standard Podcast

James Lavish CFA has decades of experience in institutional investing and risk management, and he joins us to give us his perspective on global bond markets, their recent developments and where he sees them going forward. He explains his bleak outlook for government bonds in the long run, and why continues inflation is a very likely outcome. He explains his view on why a debt spiral is likely and what it means for bond-holders and governments. James also gives us his perspective on the global foreign exchange market and where national currencies are headed. References (all links available on saifedean.com/146-bonds-with-james-bond-lavish)Saifedean's thread on housing inflation, numbers from Zillow.com - https://twitter.com/saifedean/status/1571648029639294976?t=BppvcNeX7Ti60--zC849cQ&s=19 US national debt clock - https://www.usdebtclock.org/ Economist Hyman Minsk - https://en.wikipedia.org/wiki/Hyman_Minsky James's debt spiral thread - https://twitter.com/jameslavish/status/1562078782453792768  James's FX thread - https://twitter.com/jameslavish/status/1580989721202683905?t=yGuWtdAXQs6ufqV0ZDRhfg&s=19 The Informationist Newsletter - http://jameslavish.substack.comLooking Glass Education Platform - lookingglasseducation.comJames Lavish Twitter profile - https://twitter.com/jameslavish Saifedean’s first book, The Bitcoin Standard.Saifedean’s second book, The Fiat Standard. Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming book, Principles of Economics, by becoming a Saifedean.com member. Find out more here. 

Bitcoin Magazine market analyst Dylan Leclair joins us for an in-depth discussion of the many ponzi schemes and failed financial institutions of our times, and how he identified the problems with them in his prescient writings. Dylan discusses the many red flags and structural problems with Luna/UST, Three Arrows Capital, Celsius, Blockfi, FTX, and Genesis, and why so many people refuse to see the warning signs and seem to want to fall victim for anything that offers them the holy grail of “yield.” We conclude with Dylan’s view on the bond market, why he successfully predicted the recent crash in bonds, what his expectations are for the fiat market moving forward, and what the lessons of crypto ponzis have to teach us about fiat and its ponzis.References (All links available on saifedean.com/podcast/145-ponzi-hunting-with-dylan-leclair)Speculative Attack – Pierre RochardThe Myth of National Defense – Hans Herman HoppeDebate with MashinskySaifedean’s thread on why withdraw bitcoin from exchanges Only the stronger survive – Allen Farrington Dylan’s Thread on GBTC and GrayscaleDylan’s Thread on Genesis Dylan’s thread on Alameda Pitch Deck Luke Gromen Twitter accountSaifedean’s first book, The Bitcoin Standard.Saifedean’s second book, The Fiat Standard.Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming book, Principles of Economics, by becoming a Saifedean.com member. Find out more here.

Crowdhealth CEO Andy Schoonover joins us for a wide-ranging discussion of the failures of fiat healthcare and health insurance, and how his new startup Crowdhealth, works to solve them. Andy explains the institutional and regulatory reasons that make healthcare costs continue to rise, and why insurance companies have the perverse incentive to let costs rise. He also explains how Crowdhealth uses bitcoin to make healthcare affordable for patients and better rewarding for doctors by taking the insurance companies out of the equation.References (All links available on saifedean.com/podcast/144-fiat-healthcare-crowdhealth-with-andy-schoonover)Saifedean’s first book, The Bitcoin Standard.Saifedean’s second book, The Fiat Standard.Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming book, Principles of Economics, by becoming a Saifedean.com member. Find out more here.

Rowais Hanna operates Coinbits' Twitter account, and has used it to publish fascinating in-depth investigations into the common myths of modern macroeconomics. He joins us to discuss the Consumer Price Index, how it is calculated, and the endless justifications used to adjust it. We also discuss the mythical origins of the 2% inflation target, and the trade-off between unemployment and inflation, and why supposedly empirical economists refuse to ever admit it is invalid. Rowais also discusses why he views bitcoin as the only way out of this mess, and how Coinbits helps onboard newcomers to bitcoin in a smooth and easy-to-understand way. We conclude with a discussion of Rowais' thoughts on bitcoin through a Biblical lens.References (All links available on saifedean.com/podcast/143-macro-myths-with-coinbits-rowais-hanna)Rent Equivalence Fiat-splanationCPI “misconception” response from BLSNY Fed Research connecting credit expansion and tuition risingRowais’ essay on Bitcoin through a Biblical LensThe Origins of 2 Percent Inflation Target – Mises .org Rowais’ tweet about being at the Egyptian Central Bank  Sheikh Imam, The Ballad of Beans and MeatCoinbits blog The philips curve is actually a blobCoinbits ultimate ThreadSaifedean’s first book, The Bitcoin Standard.Saifedean’s second book, The Fiat Standard.Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming book, Principles of Economics, by becoming a Saifedean.com member. Find out more here.

Why are so many bitcoin miners going bankrupt? We discuss the economics of bitcoin mining, how the difficulty adjustment works, why it makes bitcoin mining a zero sum game, and why it ensures bitcoin is optimized for the saver, not for the miner. Plus, what are the things you need to keep in mind if you are considering getting into mining? Resources (All links available on saifedean.com/podcast/142-why-bitcoin-miners-get-rekt)Saifedean’s first book, The Bitcoin StandardSaifedean’s second book, The Fiat StandardEnjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming book, Principles of Economics, by becoming a Saifedean.com member. Find out more here.

Join us as we take a close look at the amazing series of events in a week in which FTX went from being one of the biggest crypto exchanges in the world, to being exposed as a fraudulent ponzi scheme, and its founder went from being a globally acclaimed & highly politically influential successful genius entrepreneur and philanthropist to a reviled con artist, who lost his investors & clients billions of dollars. What lessons can we learn from this episode about bitcoin, sh*tcoins, DeFi, and exchanges?Resources (All links available on saifedean.com/podcast/141-ftx-beyond-ponzi)Saifedean’s first book, The Bitcoin StandardSaifedean’s second book, The Fiat StandardEnjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming book, Principles of Economics, by becoming a Saifedean.com member. Find out more here.

Richard Lindzen is professor of Meteorology at the Massachusetts Institute of Technology, and he joins us to offer his scientific expertise on climate alarmism. He discusses how his background in physics and meteorology leads him to conclude that the alarmism around climate is unjustified, and we discuss how institutional and financial reasons have made fiat scientists so keen to promote an agenda of fear and panic. We discuss the problems with the academic publication industry, as well as Professor Lindzen’s experience as a lead author with the Intergovernmental Panel on Climate Change, and where that led him. He also shares his most recent work on communicating his research ideas publicly.References (All links available on saifedean.com/podcast/140-climate-alarmism-with-professor-richard-lindzen)Professor Lindzen’s recent paper ‘The Assessment of The Conventional Global Warming Narrative” for which he welcomes commentsProfessor Lindzen’s profile on the Massachusetts Institute of Technology website.Transcript of 2018 Prof Lindzen’s Global Warming Policy Foundation lecture.Professor Lindzen speaking at the 2017 At the Crossroads IV: Energy and Climate Policy Summit.CO2 coalition websiteArticle on 97% of scientists agree with consensus in WSJ Saifedean’s first book, The Bitcoin StandardSaifedean’s second book, The Fiat StandardEnjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming book, Principles of Economics, by becoming a Saifedean.com member. Find out more here.

Alex Epstein joins us again to discuss his excellent new book, Fossil Future, which makes a powerful case for why fossil fuels are essential for human flourishing, and why restricting them is the real crisis facing humanity. Alex explains how overhyped the supposed ‘alternatives’ to fossil fuels are, and how fossil fuels remain completely essential for our modern standards of living, and why their use is constantly growing. Why do fossil fuels represent the only realistic alternative to poverty and early death for everyone on earth? Why do carbonhysterics only focus on the supposed negative impacts of fossil fuels, but never their benefits? Why is it so hard to have an honest debate with carbonhysterics? We also discuss how the use of fossil fuels was instrumental in ending slavery and liberating women, and whether fiat inflation is the driver of the propaganda to vilify fossil fuels. We conclude with a discussion of whether fossil fuels really are from fossils, or if they are naturally occurring in earth.Resources (All links available on saifedean.com/podcast/139-fossil-future-with-alex-epstein)Alex’s book Fossil Future Get a free copy of Alex’s book from fossilfuture.comSubscribe to Alex’s Substack “Energy Talking Points”A Question of Power: Electricity and the Wealth of Nations by Robert BryceThree billion people use less electricity than the average American fridge.Alex's podcast interview with Professor Mukul Sharma on fracking18 spectacularly wrong climate predictions from the 1970s, including several made by Paul Ehrlich.Alex’s Congressional Testimony, May 19, 2021Alex eviscerates COP26 on GB NewsSaifedean’s first book, The Bitcoin StandardSaifedean’s second book, The Fiat StandardAlex's previous appearances on The Bitcoin Standard podcast:TBS16: Wholesome HydrocarbonsTBS90: Climate HysteriaEnjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming book, Principles of Economics, by becoming a Saifedean.com member. Find out more here.

Princeton Professor Emeritus in Physics, William Happer, joins us to discuss the impact of CO2 on the Earth's climate and the state of modern science. What is the scientific evidence on the relationship between CO2 and Earth's climate? Does CO2 drive the Earth's temperature, or does temperature drive CO2? What does the fossil record tell us about the state of the world's climate in the past? Is current warming unprecedented? Why don't scientists study the evidence of prehistoric forests in the Arctic, and what it implies for historical temperatures? Why is there little focus on the enormous benefits of CO2? What is the evidence for CO2 driving ocean acidification? How much better are scientists today from the scientists involved in the Salem witch hunt? How does politicization affect science, and why does Professor Happer think that the more policy-driven a field is, the less trustworthy its conclusions are?References (All links available on saifedean.com/podcast/138-climate-physics-with-professor-william-happer)Professor Happer’s 2014 paper Why has global warming paused?The CO2 Coalition website.Does ocean acidification alter fish behaviorElsmere Island Mummified ForestProfessor Happer's editorial with Harisson Schmitt: In defence of Carbon DioxideProfessors Lindzen and Happer's Comment on the SEC's Proposed Rule "The Enhancement and Standardization of Climate-Related Disclosures for Investors."https://co2coalition.org/wp-content/uploads/2022/06/Happer-Lindzen-SEC-6-17-22.pdfSaifedean’s first book, The Bitcoin Standard.Saifedean’s second book, The Fiat Standard.Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming book, Principles of Economics, by becoming a Saifedean.com member. Find out more here.

What on earth is going on in Europe and how did things get so bad? In this seminar, we discuss the double calamity of skyrocketing energy costs and plummeting pensions and currencies. While high time preference fiat media obsesses over the latest scapegoats, we look into the long-term drivers of these two problems: Decades of green hysteria leading to dismantling of reliable power sources & underinvestment in reliable power generation. And decades of Keynesian dogma convincing the people whose pensions are being destroyed their government can pay for everything at no cost. Does the UK really need to spend 10% of its GDP on public healthcare? What exactly is it about medical care that makes it have to be so expensive and always getting more expensive? Could it be the endless government financing?  How bad would truly private healthcare be really?ResourcesMichael Shellenberger on German Nuclear Power PlantsMichael Shellenberger on German gas productionAlex Epstein on Europe's Energy SuicideSurgery Center of OklahomaSurgery Center of Oklahoma's Keith Smith discusses his business model on EconTalkKeith Smith's blogSaifedean’s first book, The Bitcoin Standard.Saifedean’s second book, The Fiat Standard.You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming book, Principles of Economics, by becoming a Saifedean.com member. Find out more here.