BTC057: How Fiat Works w/ Dr. Saifedean Ammous (Bitcoin Podcast)

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 22 December 2021

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN:

00:51 - What gave Saifedean the idea for the new book.
04:15 - What are the four key elements of how the Fiat system works?
10:38 - What surprised Saifedean the most about what value fiat brings to the existing economy.
15:39 - Inflation is a vector - what does that mean?
24:27 - How has fiat corrupted the existing incentives in food, academia and other areas?
36:19 - What is the shadow banking system?
37:59 - What's the purpose of the IMF?
58:10 - How does fiat mess with economic calculation?

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Buy The Fiat Standard on Amazon.
Buy the Bitcoin Standard on Amazon.
Dr. Saifedean Ammous Twitter.
Dr. Ammous's podcast and website.
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Transcript

Click on a timestamp to play from that location

0:00.0	You're listening to TI-P.
0:30.0	You're listening to Bitcoin Fundamentals by the Investors Podcast Network.
0:37.0	Now for your host, Preston Pish.
0:50.0	All right, so like I said in the introduction, I'm here with Safedina Moose.
0:54.0	And today we are going to be talking about his new book, The Fiat Standard,
0:58.0	which I have here, Amazing, Safity, Amazing Book, just like the first one.
1:04.0	This is my first question for you.
1:06.0	These take a love of education, writing.
1:11.0	I mean, you are not doing this for yourself, because this is so much work, right?
1:16.0	When did you have the idea that you had another book in you?
1:20.0	Because I mean, your first one was, in my opinion, was a smash hit success,
1:25.0	probably the biggest book in the entire space with the Bitcoin standard.
1:30.0	So when did you realize what were you thinking when you were like, you know what?
1:34.0	I think I'm going to do another one. What was that moment?
1:38.0	I always had the idea that I just can't get wait to get started on the second one.
1:42.0	I always wanted it. And in fact, I started with doing my textbooks, principles of economics.
1:48.0	I started with that one first, because I had had that idea for that book for a while.
1:52.0	As soon as I saw the Bitcoin stand out and people were buying it, I just really thought,
1:56.0	this is what I should be doing. This is so much more enjoyable for me than being part of Fiat academia.
2:02.0	And I should just do this full time.
2:04.0	So I started immediately working on a course in economics, which I taught at my website.
2:10.0	And then I made it into another book, which is coming out in a few months, principles of economics, the textbook.
	...

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