Jordan Peterson interviews a Brazilian-Lebanese-American economist of the Austrian School, Saifedean Ammous. Very good on the conception of what money is. Highly recommended value for your investment in time.
- Peterson at 28:15 on the astonishing series of assumptions that lie behind the view that we can fix “global warming”. The fatal conceit that lies behind the idea that we can solve it – “fatal conceit” being a term that Hayek coined.
- There follows a fascinating discussion of what kind of people entrepreneurs are: open to innovation and ideas (at 39:00).
- The free market conception of money versus the statist conception of money. (at 42:00) Money is a product of the market, not the state.
- Ammous says that Bitcoin is by definition the hardest currency, meaning least amenable to inflation.
- The incentive of governments is to print money, which is enormously profitable to them.
- Peterson: I am always more afraid of the solutions to climate change than I am to climate change. “The solutions terrify me.”
- You cannot think long term about the planet when your wealth is continuously eroded by inflation. (at 58:00)
Ammous is the author of “The Bitcoin Standard”. Fiat money is devaluing at 7% per year, meaning it loses about half its value in ten years. And what interest rates are you getting at the bank?