BTC057: How Fiat Works w/ Saifedean Ammous

Dr. Saifedean Ammous and Preston Pysh have a conversation about how the existing fiat financial system works, how it has created a warped incentive structure for things like academia, food, and many other things. Then they also talk about how Bitcoin offers a solution to many of these issues and concerns.

IN THIS EPISODE, YOU’LL LEARN:
0:00:00 – Intro
0:00:16 – What gave Saifedean the idea for the new book.
0:04:24 – What are the four key elements of how the Fiat system works?
0:11:29 – What surprised Saifedean the most about what value fiat brings to the existing economy.
0:17:23- Inflation is a vector – what does that mean?
0:23:22 – How has fiat corrupted the existing incentives in food, academia and other areas?
0:36:19 – What is the shadow banking system?
0:38:27 – What’s the purpose of the IMF?
0:55:12 – How does fiat mess with economic calculation?

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