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Hello and welcome to Behind the News.

My name is Doug Hemwood, the usual two guests today.

Matt Huber will talk about bringing class in the productive sphere

into a mainstream climate movement that's obsessed with consumption choices.

And Adam Katsuko will talk about the evangelical thinking behind the

tendencies opposition to abortion.

Before that, a few words in the crypto meltdown.

I wrote a very skeptical, critical article on Bitcoin in the nation in 2014.

While I stand by the economic and political analysis, I had no idea that

eight years later the racket would not only still be going, but would become a phenomenon.

A handful of coins blossomed to thousands and with insane spin-offs like NFTs.

None of these instruments have ever really answered the question,

what problem are they meant to solve?

Crypto fails as money based on the classic definition of money's purposes.

A medium of exchange, the universal equivalent of Marx's term,

what allows you to buy and sell commodities of all sorts.

A unit of account, what businesses and households keep their books in,

and a store of value, an instrument for savings.

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