4.8 • 710 Ratings
🗓️ 7 January 2022
⏱️ 70 minutes
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0:00.0 | Okay, this, I'd never thought about this before, but I think you made this point really well. |
0:13.9 | Trust minimization then is, could equally be described as minimizing the opportunity for moral hazard. |
0:24.1 | Because the less we need to trust one another, the less opportunity the person entrusted has to deceive others effectively, right? |
0:33.7 | And that's, I'm thinking of Zabo's work here where he describes that as one of the |
0:37.9 | main purposes of money. That's a trust minimization tool. I guess we get through some other |
0:44.2 | things in this bucket to capitalism, perhaps common law. Like we, these are protocols that don't |
0:49.6 | really deviate based on political agenda. It's kind of like a common rule set. We can all abide by. |
0:55.9 | So it minimizes the need to trust one another. We're going to just all play by the rules, |
0:59.4 | so to speak. But Fiat completely annihilates that, right? Where now you are forced to trust with |
1:09.4 | to absolutely trust your government and your central bank, |
1:14.8 | which are the least trustworthy institutions in human history. I mean, I was thinking about |
1:20.4 | this the other day, how there's a lot of people in this, you know, current COVID paradigm we're in |
1:26.1 | that are very, you know, oh, just trust the |
1:28.9 | government and they're going to set us straight and give us the vaccines we need and get us back |
1:33.1 | on course and fix the economy, et cetera, et cetera. Is there one case in human history where |
1:39.4 | trusting the government was ever a good strategy? I mean, I couldn't think of one. |
1:53.4 | Yeah, and that's the role of propaganda, right? Like, it is to get us to comply. |
2:03.2 | And it's interesting because, like, at least in my reading of what propaganda is supposed to be, it isn't necessary to change your belief. It is more necessary to change your behavior. So I find myself like |
2:10.4 | putting on a mask, like going into certain venues and stuff. And that's really the purpose of |
2:16.2 | that propaganda. It is this idea, |
2:18.8 | okay, you're going to get in trouble and you're going to make other people feel bad or |
2:23.2 | make them very suspicious of you if you're not wearing a mask. I remember going to Whole Foods. |
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