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.
Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/
GUEST
Lester's Twitter: https://twitter.com/ProgrammableTx
BOOK
The Twilight of Gold: https://archive.org/details/twilightofgold190000paly/
PODCAST
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400
Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1
RSS Feed: https://feeds.simplecast.com/MLdpYXYI
Transcript:
OUTLINE
00:00:00 “What is Money?” Intro
00:00:08 The Role of Short-Term Capital During the Gold Exchange Standard
00:06:01 The Nature of Self-Liquidating Loan Instruments
00:08:24 “We are Walking the Currency Toward the Graveyard”
00:10:44 The Liquidity Principles of Banking
00:14:19 The Emergence of Elongated Debt Maturation Structures
00:19:06 Debt Restructuring as a Means of Delaying and Exacerbating Volatility
00:20:07 NYDIG
00:21:15 Debt Restructuring Hiding Many Modern Financial Problems
00:24:57 The Political Convenience of Debt Restructuring
00:28:40 “Every Monetary System Will Always Be Under Attack…”
00:32:16 People are Always, Everywhere Looking for Every Loophole to Exploit
00:37:00 Liquidity is the Real Social Safety Net; Bailouts are a Scam
00:41:27 The Two Big Sources of Inflation in the World: Governments and Bank Credit
00:43:39 The “Lender of Last Resort” Model Destroys the Real Social Safety Net
00:46:51 The Self-Defeating Nature of Aiming at Price Stability…
00:47:36 “What is Money?” Outro
SOCIAL
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WRITTEN WORK
Medium: https://breedlove22.medium.com/
Substack: https://breedlove22.substack.com/
WAYS TO CONTRIBUTE
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The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true
RECOMMENDED BUSINESSES
Worldclass Bitcoin Financial Services: https://nydig.com/
Join Me At Bitcoin 2022 (10% off if paying with fiat, or discount code BREEDLOVE for Bitcoin): https://www.tixr.com/groups/bitcoinconference/events/bitcoin-2022-26217
Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/
Buy Bitcoin in a Tax-Advantaged Account: https://www.daim.io/robert-breedlove/
Buy Your Dream Home without Selling Your Bitcoin with Ledn: https://ledn.io/en/?utm_source=breedlove&utm_medium=email+&utm_campaign=substack
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