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TFTC: A Bitcoin Podcast

#406: Debt-Based Colonialism and Structural Adjustment with Alex Gladstein

TFTC: A Bitcoin Podcast

Marty Bent

Technology

4.8804 Ratings

🗓️ 20 March 2023

⏱️ 81 minutes

🧾️ Download transcript

Summary

Join Marty as he sits down with Alex Gladstein to discuss how the IMF and World Bank harness debt to funnel resources from poor nations to rich ones.

Alex's article on Bitcoin Magazine: https://bitcoinmagazine.com/culture/imf-world-bank-repress-poor-countries

Alex's Essays: https://alexgladstein.com/

Alex Gladstein at HRF: https://hrf.org/team/alex-gladstein/

5:26 - In town for SXSW talking about CFA franc
10:06 - Colonial exploitation
17:21 - Transfer of control of energy
19:51 - Outsourcing the cost
28:24 - The unrecorded losses
36:38 - Structural Adjustment
42:36 - What it could look like without the current system
49:32 - Double standard
52:51 - Bitcoin fixes this
1:01:13 - No political solution
1:04:16 - Odious debt
1:10:10 - Biological effect of wage deflation
1:12:30 - Bitcoin fixes this - again
1:20:00 - Wrapping up

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Transcript

Click on a timestamp to play from that location

0:00.0

This is brought to you by our good friends at River.

0:07.0

River is a Bitcoin company.

0:10.0

It has an exchange, has mining, has lightning, as Lightning API that you can build on.

0:15.0

I was often referring to it as a Bitcoin exchange.

0:18.0

It certainly does have an exchange, but it's more than it.

0:20.0

It's a Bitcoin company. If you're looking to acquire Bitcoin, you're looking at the banking

0:25.2

crisis unfolding right now here in the United States. You're thinking, hmm, there's a lot of

0:29.5

counterparty risks there. Maybe I should get an asset that eliminates that counterparty risk.

0:34.8

Bitcoin. Go to River. River.com slash TFTC. They have the exchange.

0:39.7

You can DCA. If you DCA into Bitcoin, you won't pay any fees on those buys.

0:44.9

If you hold Bitcoin on River, they don't recommend it. They want you to send it to cold storage that you control.

0:50.3

But if you do hold it on River, you can have the peace of mind knowing that your Bitcoin

0:54.3

is 100% reserved on the exchange. It is held in a multi-sig wallet. You can send them receive

1:01.0

over Lightning to River. And again, if you want to build on Lightning, they have River Lightning

1:05.7

services, their API. So go check it out. Maybe you have a Bitcoin exchange that you're using, but you should be

1:11.4

using a Bitcoin company. River. You get the exchange plus a bunch of value added services. River.com

1:16.7

slash TFTC. This report was also brought to you by our good friends down the hall, unchained capital.

1:21.7

They're here to help you eliminate single points of failure in your custody model, help you eliminate

1:26.1

the third party custody risk that

1:28.1

exists in the incumbent banking system that is taking a lot of people out right now.

1:32.6

They have their vault product, which is a two or three multi-sig wallet where you hold two

1:37.1

keys. Unchain holds one. As long as you have your two keys, you have permissionless access

...

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