The Truth About Inflation with Lyn Alden - WBD343
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 3 May 2021
⏱️ 68 minutes
🧾️ Download transcript
Summary
Location: Remotely Date: Friday 26th, March Company: lynalden.com Role: Macroeconomist
Bitcoin was born out of the 2008 financial crisis when central banks worldwide started printing money at levels never seen before to bail out the banks for a mess they created.
Now, a decade later, amid a global pandemic, the money printer is again being used to rescue up a faltering economy. This time, the level of money printing dwarfs that of 2008/09.
With the ongoing debasement of fiat currencies globally, inflation is more of a concern than ever before. Bitcoin offers a hedge against the threat of inflation, and with its sound monetary principles, it is the antithesis of the inequity and reckless money printing of central banks.
Corporations are now using Bitcoin as an inflation hedge. When MicroStrategy announced their initial bitcoin purchase in 2020, CEO Michael Saylor explained that he was worried about their cash position being like a '$500m melting ice cube'. This sentiment has been echoed by many other corporations, with a record 47 S&P 500 companies citing 'inflation' in their 2021 Q1 earnings reports.
The link between printing money and inflation is not black and white, so how is inflation measured? And what are the markets telling us?
In this interview, I talk to Lyn Alden, a macroeconomist and investment strategist. We discuss the growing concern of rising inflation, CPI as a measure and what the markets are signalling.
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Transcript
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| 0:00.0 | CPP is a really crappy statistic for the most part. Housing has gone up faster |
| 0:07.0 | than a CPP. Food has gone up faster than CPP. Health Care has gone up faster than |
| 0:11.2 | CPP. Tuitions gone up faster than C. P. I. The cover price of the New Yorker magazine has gone |
| 0:16.6 | up faster than C. P.I. Hello there from Costa Rica. How are you all doing? |
| 0:23.0 | It's 2 a.m. here and I am jet-lagged as fuck. |
| 0:25.6 | I'm also not going to be as loud as normal because I don't want to wake up my neighbors in this hotel. |
| 0:31.2 | I am off on my magical mystery Tour so I can get to Miami for |
| 0:35.0 | Bitcoin 2021. Honestly the things I go through to buy you savages of whiskey and |
| 0:40.9 | talk about Bitcoin, but I'm on my way. I will be in Miami. We will drink |
| 0:45.5 | whiskey. We will talk Bitcoin. Very exciting. Anyway, welcome to the What Bitcoin did |
| 0:51.1 | podcast, which is brought to you by Gemini, the only place I'm using |
| 0:54.7 | for buying Bitcoin. |
| 0:55.7 | I'm your host Peter McCormack, and I'm back for my monthly update with the amazing Lynn |
| 1:00.3 | Alden. |
| 1:01.3 | This time, we are talking inflation. But before that I do have a message from my amazing |
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| 1:11.1 | team we will announce the competition that we are running to win a Lambo in Miami at |
| 1:16.3 | Bitcoin at 2021. I will let you know how you can win that prize, but there is going to be a nice little |
| 1:21.8 | extra Bitcoin edge to that price. |
| 1:23.7 | You're going to love it. |
| 1:25.2 | Anyway, Sports Bet.io is the very best place for online gaming |
| 1:29.4 | and they accept Bitcoin because they're badasses. |
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