WTF is Happening in 2020? With Guy Swann, Ben Prentice & Heavily Armed Clown

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“It doesn’t matter if the world is ready for Bitcoin, because it is coming like a freight train.”
— Heavily Armed Clown

SHOW DESCRIPTION

Location: Squadcast
Date: Wednesday 12th August
Company: The Cryptoconomy & WTFhappenedin1971.com
Role: Host & Creators

Modern Monetary Theory is a relatively new school of economic thought. MMT suggests that if governments carefully control inflation, then they should not be concerned with increasing levels of debt.

The views of MMT proponents is in stark contrast to the views held by most Bitcoiners who often favour Austrian economics, which Bitcoin’s monetary policy and fixed supply align closely. 

Following my recent interview, with Stephanie Kelton, who put forward what she sees as the benefits to MMT, I wanted to follow up with a panel of Austrian economics proponents to look at the potential flaws in this system. 

In this episode, I talk to fellow podcaster Guy Swann, as well as Ben Prentice and Collin, creators of WTFhappenedin1971.com. We discuss Modern Monetary Theory, Austrian economics, and MicroStrategy buying Bitcoin.

TIMESTAMPS

00:04:10: Introductions
00:05:15: Background to Guy and MMT
00:09:24: Flawed premise of MMT
00:16:50: Inflation and MMT
00:22:03: Deflation and inflation
00:26:51: Governments benefitting from inflation
00:31:51: MMT as a tool for corruption
00:35:23: Removing government’s ability to print money
00:41:25: Price fairness and removing monopolies
00:45:40: Removing power structures 
00:51:19: Going cold turkey on current systems
00:54:31: Advantages of deflation
00:59:42: Japan’s historical economic problems
01:05:11: 2020 prediction
01:08:32: Bitcoin based economy
01:12:55: Microstrategy Bitcoin purchase
01:17:55: Shrinking Bitcoins available 
01:19:51: Restructuring the financial system
01:24:42: Domino effect from macro investors
01:29:10: Final comments

 

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SHOW NOTES

PodcastPeter McCormack