He teaches economics and hosts a podcast through his website, saifedean.com. Most importantly, regime higher education was customer-less: it did not provide value for customers, because that was not its purpose. Only about a third of them were sold. Indeed, Saifedean has added an enormous fortune to his account with his multiple works. In fact, it turns out that the best way to navigate the Fiat system is to be short Fiat, which is effectively to borrow Fiat, to have your liabilities denominated in Fiat. He is also host of the Economics for Business podcast. Debate with Saifedean Ammous, Steve Hanke, and Hong Fang . what are your guy's opinions on Bitcoin this year? Saifedean Ammous - YouTube The Bitcoin Standard is a great book. What The Bank of England did was that it got two high ranking officials in The Bank of England to buy the other two-thirds of those bonds in their own name, with money from The Bank of England and then got the financial press, particularly The Financial Times, to publish an article saying that the bond issue was oversubscribed and thats how they financed the war. Ammous is a married man and shares a number of pictures of his loving wife on social media. Saifedean Ammous Prices range from $15 per month for beginners to $1,000 per year for the Institutional subscription. It was always very interesting, and a lot of things didnt make sense. To Saifedean, or Saif as his followers call him, Fiat means something more than a monetary system backed by nothing but a nation states promise to steward it well. He was able to generate value for his students by teaching them the economics they wanted to learn, along with giving them the optionality of seeing the knowledge through his distinctive perspective. How do you see Bitcoin scaling into the future as you just look maybe in the next five to ten years and any fears around that, as far as like government stepping in or anything there? Understanding you are your own worst enemy and best ally is liberating Why? I did that for my masters and for my Ph.D. at Columbia University and it was just a topic that really drew me in because it was just not making a lot of sense. The other two can be read when users subscribe to Saifedeans membership. Where Does Saifedean Think Money Comes From? | AIER At maturity-weighted yields on its portfolio of Treasuries and mortgage-backed securities, thats somewhere north of $100 billion a year. Joakim Book is a writer, researcher and editor on all things money, finance and financial history. All notes are independently created and do not imply any sponsorship or endorsement by the source podcast. The Fiat Standard: The Debt Slavery Alternative to Human Civilization You would expect that your money would hold on to its value pretty well next year because everything else is increasing at a rate higher than 2% every year. Saifedean Ammous is a knowledge entrepreneur. Saifedean Ammous: Yeah, thats what a lot of people tell me that, once you see Fiat somewhere, you cant just see it you cant unsee it. Thats when I really thought, Theres a lot of red flags here, things dont really make a lot of sense the way that they are laid out, and I think the fascinating thing was to just watch how at Columbia and in the media and with my university professors, the only kind of perspective that you see is just rationalizing the decisions of the federal reserve, you know? In his new book The Fiat Standard, its clear that Saifedean Ammous thinks all bad things come from the government. You do a great job throughout the book of highlighting so many different ways that ityou talk about schools and universities, you talk about diet. 308. Or, if you default your loan, you cant pay your bank back. If you look at the prices of real foods, they are going up. Saifedean Ammous joins Real Vision for an in-depth analysis of both gold & bitcoin. He also started The Bitcoin Standard Podcast. Importantly, that money does not accrue to the government: While its misleading to say that the Feds open-market purchases finance the governments spending outright, the Fed is adding buying pressure to the bond market that does. Ive left my job at university and now Im an author and an independent educator. The hard money is money whose supply is hard to produce and so you cant just make more of it. In his new book The Fiat Standard, its clear that Saifedean Ammous thinks all bad things come from the government. Saifedean Ammous prefers to live a private life and has not exposed his family details in the media. Saifedean Ammous: It was just something that I found very interesting early on. Sponsor the work of leading economists and academics as they advance the study of the economic principles that underwrite human prosperity and progress via AIER.org. 69. The Bitcoin Machine worth But by how much? We discuss the history of the Fed, I have spent my entire career studying works about monetary theory, the gold standard, comparative monetary systems, central banks, and proposals for monetary and financial reform. Its very far from the scientific way of looking at things. It is very reckless and this is why, I think, the second part of my book is just discussing the social and broader societal implications of this. The first step was writing and publishing a book called the Bitcoin Standard (conventionally published by Wiley) and then leaving academia for the joys of hard money. Saifedean Ammous: In the first chapter, I dig into some of the history and interestingly enough, theres a couple of very important historical events that only became well-known in the last couple of years. He got a masters degree in Development Management and later received a Ph.D. in Sustainable Development at Columbia University in New York City. Saifedean Ammous: I think the traditional way that most people think about the Fiat System, most people who are critical of it would say, Well, this is all a big giant debt bubble and it is all going to collapse. Ep 58 | Digital Money Comes of Age with Dante Disparte of Circle I mean, I wrote The Bitcoin Standard without considering, without having thought about writing The Fiat Standard so it was just writing a book on Bitcoin. Show this thread. Even if all the Feds balance-sheet increase were at the disposal of the government which its not it wouldnt explain the many recipients that Saif believes are on the fiat-government payroll. Why waste money on something you can learn about openly on the internet? WebBitcoin 101: Special Guest Morgen Rochard, CFA. Are We on the Edge of the Economic Abyss? In fact, the majority of dollars are not physical dollars that get printed. WebThere is still gold but most peoples net worth is still in local currency. WebShout out to Matt Homewood for continuing to fight food waste - bins full of good food is absolutely insane. Save The Fiat Standard: The Debt Slavery Alternative to Human Civilization for later. The Real Economy: What Hillary and Trump Cant and Wont Address. I know this book is going to be another great resource for so many. Then, the British government had a problem because how were they going to finance the war when people dont want to buy the bonds. As of 2022, Saifedean Ammous has an estimated net worth of $2 million. Suggest an edit Podcast Credits The Bitcoin Standard Podcast TRIGGERnometry The Jordan B. Peterson Podcast Impact Theory with Tom Bilyeu He joinsthe Economics For Business podcast to share some of his learnings and experiences. Our goal at Economics For Business is to be a knowledge and tools provider for this entrepreneurial surge. This is also one of the key points of The Bitcoin Standard, which is that as money gets harder. Granting him some linguistic leeway, government money printers or access to an infinite credit printer doesnt seem to cut it either. This is the Author Hour, Im your host Benji Block and today, were honored to have Saifedean Ammous on the Author Hour with us. Dr. Ammous holds a PhD in Sustainable Development from Columbia University, where his doctoral thesis studied the economics of biofuels and alternative energy sources. Nocoiners need to specify at what price they would admit bitcoin has succeeded or shut the fuck up forever. Saifedean took degrees in economics and engineering, at bachelors, masters and Ph.D. levels. 0 3. Dont Trust, Verify: Fixing The Problems With Academic Research What is the Austrian School of Economics? The Bitcoin Standard : r/Bitcoin Near the start of guide Ammous talks about:. WebDr. As Scott Sumner writes, and many other monetary economists have pointed out, The Fed controls the nominal quantity of money in the US economy. Show this thread. Saifedean Ammous makes Bitcoin easy to understand for everyone without getting lost in technical details. Feb 23, 2023 @saifedean. Furthermore, he was born in Palestine and grew up in the city of Ramallah. Saifedean Ammous: That then left The Bank of England with a problem, which is that it had a lot more notes outstanding than it had gold to back them up. Background Saifedean was born in the State of Palestine and spent most of his childhood in Ramallah. Ammous said that even though altcoins have emerged that may have possessed superior technology than Bitcoin, they have all failed to dethrone the worlds largest cryptocurrency and drive the price lower. That is why it makes sense to get into debt. The Bitcoin Standard is an iconic book that thoroughly explains the value of Bitcoin, and the one who wrote it is economics expert Saifedean Ammous. Benji Block: Amazing, the book is The Fiat Standard. Books will be written about the world before the invention of financial plumbing, Fact: Every moment of your life you are making decisions that will make your life better or worse. But where does fiat money really come from? No matter how much money you have, you will expect that money to lose value over time and the only way that you can hedge against that, the only way that you can protect yourself against that is to leverage, get into debt and therefore, be on the edge. Think about it globally. WebBitcoin was created to be a store of value (yes, perceived value, just like fiat, gold, etc., yet as long as it has perceived value then it is worth having). Saifedean Ammous: Yeah, I think one of my favorite topics is food and I think in the 20th century, weve moved toward eating all of these substances that we think of as food and that are promoted by food, and that governments have subsidized and promoted heavily and told us to eat, but really, theyre not really healthy foods. In fact he believes Ethereum competes more with Amazon Web Services than Bitcoin. But what every episode of hyperinflation also shows is that theres a limit to how many real resources the government can extract through inflation. On the other hand, fiat (government) money ruins the concept of opportunity cost Here is why: Money is cheap, interest rates are low, its easy to borrow, In addition: holding on to money means it loses value, Suddenly you care about the future, even beyond your own lifespan, Children are only concerned with the present moment, growing older involves becoming aware of the future and understanding actions have consequences (In essence lowering of time preference). This unfolding timeline is an excellent example of the entrepreneurial method at work. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio. "Money: Free and Unfree" with George Selgin (WiM209)-The "Wh We'd love for you Saifedean Ammous is author of the seminal book,The Bitcoin Standard, which has been translated into dozen of languages. As I took one course of economics in my undergraduate but then I decided for my graduate studies, I wanted to study economics more in-depth. Hes a Bitcoin maximalist and advocate of the sound money theories of Ludwig von Mises and Austrian school economics. Moving onto the Saifedean Ammous wife, he is a married man. The Bitcoin Standard: The Decentralized Alternative to Central Join as member+ and also attend weekly seminars discussing the course & hosting special guests for is Saifedean Ammous? "Bitcoin Fixes What Ammous holds a Ph.D. in Sustainable Development from Columbia University. It put together the technical, economic, motivational and related issues around Bitcoin better than anything I've seen. They used to eat more meat back in the 19th century, and meat is the most nutritious thing that you could eat. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Saifedean Ammous Saifedean.com Where exactly is this endless limitless pool of funds with which fiat provides government? My first book, The Bitcoin Standard, was a study of the economic system around Bitcoin, and then as a follow-up, I decided to basically do the sequel studying the Fiat economic system, which is the dominant economic system that we have today, looking at it from the perspective of an engineer and an economist looking at a monetary system. This time, Ammous delves into the worlds earlier shift from the gold standard to todays system of government-backed Fiat money. Benji Block: It may be important here to just have you explain a little bit of the difference between hard money and soft money because it seems like were going to end up going in that direction a little bit. Receive and read book chapters as they are written; Access video and audio online courses in Austrian economics; Subscribe to podcasts (which he runs like a seminar); Find a complete central bank replacement pack.
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