Name: Pitfalls of the Inflation Narrative ft. Jeff Booth and Aaron Segal - Fed Watch 56
Uploaded: 2021-06-30T16:54:10+00:00
Duration: 1 h 14 min 52 s
Description: The Fed Watch: Bitcoin and Macro has a podcast feed separate from Bitcoin Magazine. In your podcast app search for “Fed Watch Bitcoin and Macro”. In this episode of Bitcoin Magazine’s “Fed Watch” podc

2 years ago

The Fed Watch: Bitcoin and Macro has a podcast feed separate from Bitcoin Magazine. In your podcast app search for “Fed Watch Bitcoin and Macro”.

In this episode of Bitcoin Magazine’s “Fed Watch” podcast, we, your hosts Christian Keroles and Ansel Lindner, had the privilege of sitting down with Aaron Segal of Bitcoin Magazine and Jeff Booth, author of “The Price Of Tomorrow,” to discuss some of the pitfalls of the current dominant narratives in bitcoin and sound money.

Segal is somewhat new to the bitcoin space but has already made a splash with two great essays for Bitcoin Magazine. The first is “Bitcoin Information Theory: B.I.T.,” and the second and the main subject of this podcast is called “Thinking Too Small And The Pitfalls Of The Inflation Narrative.” In both of these essays, Segal gives a fresh take on the bitcoin space from an insightful, new entrant perspective.

In this episode, we tried to flesh out the deflationist perspective, or at least why the inflationist perspective is not a given. Segal and Booth began by saying it is important to peel back the onion and not rest on surface-level monetary memes, like “money printer go brrr.” Segal does not want to get caught up on labels, instead concentrating on the underlying mechanisms of technological deflation meeting monetary inflation.

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Timestamps:
0:00 - 2:53 Intro
2:53 - 7:32 Aaron introduces himeself and tells his rabbit hole story
7:32 - 10:42 Jeff introduces himself and his thesis
10:42 - 15:59 The debate of inflation and deflation
15:59 - 18:02 The real damage behind the labels of inflation and deflation
18:02 - 19:44 Economics today is like running your life by a horoscope
19:44 - 21:41 Bitcoin 2022
21:41 - 22:56 The Deep Dive
22:56 - 28:15 Are the inflation and deflation labels important?
28:15 - 29:09 The inevitability of deflation
29:09 - 30:51 What people miss with the inflation and deflation debate
30:51 - 33:16 The path to the new system
33:16 - 34:44 The monetary side of the deflationary argument
34:44 - 38:08 The significance of debt in the fiat system
38:08 - 40:20 Aaron shares a quote
40:20 - 42:02 When the fiat system began to break down
42:02 - 44:25 Things move to information
44:25 - 45:20 How to follow Bitcoin Magazine's content
45:20 - 46:06 The impact of having children on understanding bitcoin
46:06 - 49:40 The complexity of calculating CPI
49:40 - 54:56 The current situation with reverse repo
54:56 - 56:55 Getting past the noise and understanding the root of the current system
56:55 - 1:00:27 Refraiming things to monetary entropy
1:00:27 - 1:02:33 We require a digitally native currency
1:02:33 - 1:03:40 How willing will governments be in adopting a bitcoin standard?
1:03:40 - 1:04:07 Jeff's last words
1:04:07 - 1:06:04 We are in a monetary hurricane
1:06:04 - 1:08:11 The key takeaways
1:08:11 - 1:10:06 We are all looking at things at one point in time
1:10:06 - 1:11:42 Understanding why bitcoin is valuable
1:11:42 - 1:14:52 Closing comments