Name: Myths of the Gold Standard | The Twilight of Gold Series | Episode 13 (WiM361)
Uploaded: 2023-09-04T16:00:09+00:00
Duration: 1 h 24 min 15 s
Description: My friend and fellow student of money codenamed "Lester" joins me for a multi-episode conversation exploring the excellent book "The Twilight of Gold" by Melchior Palyi. Twitter: https://twitter.com/P

2 years ago

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My friend and fellow student of money codenamed "Lester" joins me for a multi-episode conversation exploring the excellent book "The Twilight of Gold" by Melchior Palyi.

Twitter: https://twitter.com/ProgrammableTx
Book: https://www.amazon.com/dp/B0006C31O4

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// OUTLINE //
00:00:00 - Coming up
00:00:21 - Intro
00:01:54 - Helping Lightning Startups with In Wolf's Clothing
00:02:40 - Introducing "The Twilight of Gold" Series
00:04:05 - The Twilight of Gold: Myths and Realities
00:09:07 - A Shift in the Currency Standard
00:10:55 - Debt Monetization Leading to Currency Graveyard
00:13:52 - Monetary Prism: From Gold to Bitcoin
00:15:35 - Interest Coverage Ratio of the Government
00:19:15 - Calculating the Federal Debt
00:21:01 - Inflationary Forces and Deflationary Forces
00:26:50 - Negative Real Yields
00:27:50 - Money is the Mirror Reflection of the Economy it Serves
00:29:46 - Political Influence on Money
00:33:35 - Civilization Inherits the Attributes of the Money
00:36:08 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet
00:37:05 - Bitcoin Wouldn't Work in a Perfect World
00:40:52 - Money is Essential to Human Rationality
00:43:23 - Myths of the Gold Standard
00:44:47 - First Myth: Britain's Shift to Gold Standard in 1925
00:46:00 - Second Myth: Capitalism Led to the Great Depression
00:47:17 - Third Myth: Gold's Shortage Caused the Great Depression
00:49:31 - Probability of Hyperinflation
00:50:55 - Lester's Updated View on Gold
00:56:20 - China's Capital Account
00:58:24 - Post Bretton Woods Mistakes by the US
01:00:46 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet
01:01:38 - Contemplating Drivechains of BIP 300
01:06:32 - Problems of Pegging Fiat Money to Gold
01:09:12 - Shanghai Gold Exchange
01:13:53 - Political Role of Gold
01:16:53 - Using Gold Revaluation Account to Cover Losses
01:22:19 - Estimating the True Size of China's Gold Reserve