You think your house is going up in value, but it's actually depreciating like your car is.

You just can't see it because the unit that you're measuring the house's value in is losing spending

power fast enough to create the optical illusion of the increase in value in the house, but not fast enough

so that it makes the cargo up in value in dollar terms.

But if you're in Venezuela, your Toyota Corolla could double in value in Bolivar in 12 months. Yeah. And if you have this sort of like economic distortion out of global steel, then you can't expect to have like rational economic actors because of everything is discerning how you know how to invest or how to do anything. I'll go as far as saying, I think it creates like a low grade state of psychosis. People are like confused and they may not even be fully aware of what's happening,

but I think intuitive we know when we're getting screwed.

Things aren't clear and you can't make sense of stuff.

It's hard enough to live.

Life is difficult when you add this layer of complexity in there.

It's very discouraging.

We're in the beginning stages of the great demonetization, where all of this monetary premium spread out amongst treasuries, equities, real estate, collectibles, commodities, this monetary premium on all of these things because people are using them as money, which is a real problem.

And people don't know they're being used as money. They just see prices going up for everything. It's the cantalon effect. You know, the property owning class is getting

wealthier at the expense of the non-property owning class. And then the people that are getting

screwed vote for things such as wealth tax, which is basically more violation of property rights.

And the idea of confiscating property and redistributing it sounds really good

until you're in the bracket of individuals that's getting redistributed from.

All right, Radu.

Welcome to the show again.

Thanks for having me.

It's good to be here.

Yes, I listened to your recent episode with Robert.

That was a very fun conversation to listen to. You guys unpacked a lot of the more fun philosophical implications of bitcoin so i

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