#250: Q1 Monetary Base Update, inflation, and haters with Matthew Mežinskis

TFTC: A Bitcoin Podcast

Marty Bent

Technology

4.8 • 764 Ratings

🗓️ 13 May 2021

⏱️ 134 minutes

🔗️ Recording | iTunes | RSS

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Summary

Join Marty as he sits down with Matthew Mežinskis to discuss:

- The latest global monetary base update

- Why the monetary base is a good benchmark for bitcoin

- Bitcoin is the 6th largest base money (ex-gold) in the world

- Defining assets and liabilities on the Fed's balance sheet

- Why Japan matters

- Communism creep

- Bitcoin and a free banking system

- Academic economists and bitcoin

- much more

Follow Matthew on Twitter

Check out cryptovoices.com

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Transcript

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0:00.0	So, freaks, it's your boy, Marty Ben, here to introduce this rip of Tales from the Crypt.
0:05.0	The immense pleasure of sitting back down with our good friend, Maddie Bizzingius,
0:08.2	from the Cryptovoices podcast from the Cryptovoices.com website that has been tracking the global
0:16.3	monetary base for some time now, for many years.
0:20.1	He dropped the update for Q1 2021 this morning, and I was lucky enough to catch him literally
0:27.5	minutes after he sent the most recent monetary base update out to the world to discuss
0:34.2	it, among many other things.
0:35.7	So why the detractors to this comparison to Bitcoin are wrong, mainly those in the mainstream,
0:43.3	who don't understand the difference between assets and liabilities on the central bank balance
0:50.5	sheet.
0:51.2	So I think you guys are really going to like this. Beyond the global monetary base,
0:55.0	we get into metrics outside of inflation that probably make more sense to pay attention to
1:00.8	because they're more tangible and inflation is very hard to measure at any given point in time,
1:07.8	again, because different humans have different preferences. Prices react differently.
1:12.8	People have different baskets of goods.
1:15.6	So one metric that we talked about for a bit in this episode that I think you freak should look deeper into is comparing how much productivity a dollar gets in terms of GDP today compared to years past.
1:33.4	So I believe in 2000, a dollar spent would get you $17 of GDP or invested.
1:42.9	We'll get you $17 of GDP. Today, it's $3 around there.
1:46.9	So the purchasing power in terms of productivity of those dollars is going down pretty significantly.
1:53.2	Matthew explains it much more eloquently than I can. So enjoy this rip. Always enjoy speaking with
1:58.8	Matthew.
2:02.8	He's got a really interesting perspective, too,
	...

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