140 - The Future is Fiat | Noah Smith (Noahpinion)

Bankless

Tech News, Technology, News

4.7 • 1.2K Ratings

🗓️ 17 October 2022

⏱️ 98 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

✨ DEBRIEF | Unpacking the Episode:
https://shows.banklesshq.com/p/debrief-noah

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Noah Smith is a writer economist, with fiercely independent takes that he articulates with precision and clarity. We see him as a knowledgable crypto outsider, which is a rare trait we've seen throughout the posts on his blog, Noahpinion.

In today's episode, we cover geopolitics in broad strokes—Noah thinks we're already at war in the form of an economic showdown between the New Allies and New Axis.

We also turn to crypto, where Noah gives his bull case while also addressing some misconceptions he sees in the crypto community.

The sum of all of this is an episode title we thought we'd never see on Bankless—The Future is Fiat.

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Topics Covered:

0:00 Intro
6:00 Noah Smith Respects Nerds
11:00 The War Economy
19:20 The New Axis
23:30 Battle of the Titans
30:50 Different Capabilities
35:02 Why Does This Matter?
39:00 Taiwan
45:20 Sanctioning China
50:35 The Path to War
57:15 High Level Crypto
1:02:20 Crypto In Conflict
1:09:45 Weakening Nation States
1:15:40 Crypto Misconceptions
1:26:10 A New Economy
1:32:10 Ponzis
1:40:48 The Fate of the Dollar
1:45:25 Bullish Rabbits

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Resources:

Noah Smith
https://twitter.com/Noahpinion?s=20&t=kKYOtZ37UkLtwZ4WGmDT6Q

Noahpinion
https://noahpinion.substack.com/

Freedom's Forge
https://www.amazon.com/Freedoms-Forge-American-Business-Produced/dp/0812982045

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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures

Transcript

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0:00.0	Welcome to Bankless, where we explore the frontier of internet money and internet finance.
0:11.9	This is how to get started, how to get better, how to front-run the opportunity.
0:15.6	This is Ryan Sean Adams.
0:16.6	I'm here with David Hoffman, and we're here to help you become more Bankless.
0:21.1	Guys, an episode title you probably wouldn't need to see on Bankless.
0:25.3	The future is fiat.
0:26.3	What?
0:27.3	What?
0:28.3	What are we talking about today?
0:29.3	David and I talked to writer economist Noah Smith.
0:32.2	He's a contrarian.
0:33.2	He is what I would call a knowledgeable outsider, which is fairly rare in crypto conversations.
0:39.8	He's bullish on some crypto claims, but he's also willing to call BS on many other claims.
0:45.0	That's why this was such an interesting conversation.
0:47.5	We have two sections in this episode.
0:49.4	The first is all about geopolitics.
0:52.0	No one thinks we're already at war.
0:54.1	We go into that question of who we're at war with and why.
0:57.1	Noah thinks the world is dividing between the new allies, which is the US and EU, and
1:02.1	the new Axis, which is Russia and China.
1:05.0	In the economic showdown, we talk about who would win.
1:07.5	Is it China?
	...

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