When I first heard Zeihan make those comments I thought about Gell-man amnesia. I am actually a fan of Peter’s but I disagree with his take on bitcoin. It does make me lower the probability of some of his other statements. That is probably healthy though. He makes pronouncements with such confidence but if only half the stuff he says is true he’d be hailed as seeing the future. If people like Peter groked bitcoin we wouldn’t have the chance to stack at these prices.
Sure in the 150 years of a deflationary currency there was a ton of innovation. There has also been a ton of innovation since the central banking system was out into place. I’m not arguing for either, but how can you measure that? The quality of life of the poorest people in the US is not comparable to 50-100 years go. The global poverty rate has decreased drastically. How can you say which way (btc vs central) is better?
I've never been a fan of Peter's interviews, even on geo-politics, which all of his apologists claim is his expertise. He seems more like a CIA propagandist than an analyst we should give any credence too on any subject. He speaks with arrogance and a willingness to confuse the facts. A complete scumbag in my opinion.
After a few years of living on a #Bitcoin standard with technological debasement measuring ~ 5% per year. Will employers be incentivised to decrease wages? or will employees and employer benefit in equal measure, thus leaving wages untouched?
Excellent piece! Great book recommendations; read them both and just finished Fiat Standard as well.
Great read.
Many of us have had visceral reaction to Peter's gibbirish, a properly articulated explanation to his cognitive dissonance is welcomed, big up !
When I first heard Zeihan make those comments I thought about Gell-man amnesia. I am actually a fan of Peter’s but I disagree with his take on bitcoin. It does make me lower the probability of some of his other statements. That is probably healthy though. He makes pronouncements with such confidence but if only half the stuff he says is true he’d be hailed as seeing the future. If people like Peter groked bitcoin we wouldn’t have the chance to stack at these prices.
Very bullish rn
Sure in the 150 years of a deflationary currency there was a ton of innovation. There has also been a ton of innovation since the central banking system was out into place. I’m not arguing for either, but how can you measure that? The quality of life of the poorest people in the US is not comparable to 50-100 years go. The global poverty rate has decreased drastically. How can you say which way (btc vs central) is better?
Great post. Covered the topic well.
Thank you for writing this piece, excellent work!
I've never been a fan of Peter's interviews, even on geo-politics, which all of his apologists claim is his expertise. He seems more like a CIA propagandist than an analyst we should give any credence too on any subject. He speaks with arrogance and a willingness to confuse the facts. A complete scumbag in my opinion.
Well written!
love it!
Jesse.
After a few years of living on a #Bitcoin standard with technological debasement measuring ~ 5% per year. Will employers be incentivised to decrease wages? or will employees and employer benefit in equal measure, thus leaving wages untouched?
That was very educational! Thank you!
Sounds nice, but you are wrong as well.
Coiners take the opposite view on finances as MSM economists.
But all the while thinking with the same set of instruments and basic premises.
My point is, take a more sophisticated approach. Look into Jeff Sniders work on euro dollars.
He gets it and he uses Friedman as a basis as well.