THIS Is the Issue With the Legacy Financial System & How BITCOIN Fixes All of It | Saifedean Ammous

Dr. Saifedean Ammous Interview Timestamps
00:00 | Introduction
01:28 | What is Fiat Currency?
05:57 | How Types of Money are Created
14:25 | Fiat, Self-Correction, and Hyperinflation
18:10 | What is Hard Money?
23:48 | The Transition to Universal Debt Slavery
27:54 | Fiat vs. Hard Money
33:10 | Deflation vs. Inflation
43:22 | Why the Wealthy Hold the Most Debt
46:23 | Has Fiat Currency Ruined the University?
1:01:34 | Bitcoin vs. Central Planning
1:05:26 | Why Printing Money is Destructive
1:19:28 | Bitcoin vs. Gold Standard
1:24:18 | How Bitcoin Will Consume the Bond Market
1:28:06 | Transitioning to a Crypto Economy

Dr. Saifedean Ammous QUOTES

“As we develop the ability to have stronger, harder money, we’re able to provide for our future more… The more we save, the more capital we have available for investment. The more we invest, the more the productivity goes up, the more our standard of living increases. That’s really the process of civilization.” [22:13]

“If you’re trying to collect zeros next to your house valuation, move to Zimbabwe, Lebanon, Venezuela – go where the hyperinflation is, and you’ll have the most valuable house. Obviously, people don’t care about how many zeros you attach to their prices of goods. People care about the purchasing power of money.” [36:27]

“A lot of parents teach their kids to save, but it’s pretty bad advice if you save in the Fiat standard. If you hold on to money you’re witnessing it basically lose its value by 5, 10, 15% per year.” [39:22]

“Why did Soviet cars suck? Because they were producing the same way that modern research in modern American universities is produced – it’s from the top down.” [59:15]

“The only reason that [the U.S. government] can get into bonds is because everybody’s counting on their ability to inflate their money supply and devalue their people. So the bond market is just… it’s evil through and through.” [1:25:58]

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