141 - Who Stole the Wealth? with Ben Hunt
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 24 October 2022
⏱️ 82 minutes
🧾️ Download transcript
Summary
✨ DEBRIEF | Unpacking the Episode:
https://shows.banklesshq.com/p/debrief-ben-hunt
Joining us today for his second appearance on Bankless, the macro narrative gigabrain, Ben Hunt. Ben is an investor and creator of Epsilon Theory, a website, and community that examines markets through the lenses of game theory and history.
On today’s episode, Ben shares his rich insights on the U.S.’s current macro landscape by taking us through a brief history of the past, why our political coordination game is broken, and of course–who’s stealing the wealth.
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Timestamps:
0:00 Intro
7:43 Unique Time in History?
11:56 Repricing Money
18:48 What’s Different?
22:24 US Wealth Growth vs. US GDP Growth
30:55 Hollowness
42:06 Stealing the Future
50:09 Kicking the Can Down the Road
55:23 The Widening Gyre
1:00:48 Political Coordination Game
1:06:26 Constitutional Apportionment Amendment
1:12:27 Common Denominators
1:15:14 Bitcoin
1:25:12 Tornado Cash & Freedom Narrative
1:32:53 Do We Have Hope?
1:34:28 Closing & Disclaimers
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Resources:
Ben Hunt
https://twitter.com/EpsilonTheory
Epsilon Theory
https://www.epsilontheory.com/
Ben’s 1st Bankless Appearance
https://youtu.be/JlMooJyaFBc
Hollowed Out (“Hollow Men, Hollow Markets, Hollow World”)
https://www.epsilontheory.com/hollow-men-hollow-markets-hollow-world-2/
The Widening Gyre
https://www.epsilontheory.com/the-widening-gyre/
In Praise of Bitcoin
https://www.epsilontheory.com/in-praise-of-bitcoin/
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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. |
| 0:11.6 | This is how to get started, how to get better, and how to frontrun the opportunity. |
| 0:14.8 | This is Ryan Sean Adams, and I'm here with David Hoffman, and we're here to help you |
| 0:18.6 | become more bankless. |
| 0:20.6 | Guys, excellent episode with Ben Hunt. |
| 0:24.0 | We talk about wealth and who stole it? |
| 0:26.8 | First, a few takeaways for you. |
| 0:29.0 | Number one, why is the world on fire now? |
| 0:31.3 | That's the opening question we ask Ben. |
| 0:34.0 | Ben thinks the root cause is actually just a simple number. |
| 0:38.0 | We get into that. |
| 0:39.0 | Number two, who stole the wealth? |
| 0:41.5 | Actually, why wealth is accelerating while GDP is flat? |
| 0:44.7 | We talk about the difference between these two metrics. |
| 0:48.5 | Number three, why the center cannot hold. |
| 0:51.0 | Not against big tech, not against big media, not against big politics. |
| 0:54.8 | Why our world is increasingly fractionalized. |
| 0:58.0 | Number four, how Wall Street and Treasury are defaming Bitcoin? |
| 1:02.2 | Ben's bear take on Bitcoin. |
| 1:04.2 | Also his bulltake, more bearish than bullish, I think, and you'll hear why. |
| 1:08.4 | And number five, Ben's best advice for us in crypto and his hope for the future. |
| 1:14.2 | We talk about all of these things. |
... |
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