He started a website called Saifedean.com, which features his books, courses, and membership. 0 3. Saifedean Ammous: Exactly, the GDP number go up. Show this thread. I teach economics on my own website, saifedean.com. When you joinacademy.saifedean.com you gain access to all five online economics courses, as well as chapters from both books and forum membership! Following In The Fiat Standard, world-renowned economist, Saifedean Ammous applies his unique analytical lens to the Fiat Monetary System, explaining it as a feat of engineering and technology, just as he did for bitcoin and his global bestseller, The Bitcoin Standard. Specifically, everything wrong in American life stems from the money-printing that is under the governments control. WHY ARE A similar mechanism is the store-of-value argument the monetization of assets like Treasuries, stocks, and real estate when we live under a bad monetary regime. If a doctor is a vegan, which do they tell you about first? He is considered one of the greatest investors in FREE when you join over 50,000 subscribers to the Podcast Notes newsletter. Soybean oil is industrial waste and these things have been repackaged and sold as food and theyve been combined with highly addictive sugary substances and highly addictive substances to make these very palatable foods that become highly addictive. 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. Honestly you raise a valid point, I might consider taking free courses on it, Best is to Join Dr Saifedean Ammous online University @ saifedean.com , he is the author of book The Bitcoin Standard , best guy to teach about bitcoin , who taught this world same through his book. Why waste money on something you can learn about openly on the internet? https://traffic.libsyn.com/secure/authorhour/Saifedean_Ammous_1.mp3, The Moral Case for Fossil Fuels: Alex Epstein, All the Presidents Taxes: Charles Renwick. Dr. Saifedean is known for his engaging approach to educating, with an aim to enlighten students and listeners to the truth about money, value, and its direct correlation You know, we have more apples, more oranges, more houses, more cars, more everything, more than 2% of all those things but only 2% more of money, so money ends up having more value over time. Background Saifedean was born in the State of Palestine and spent most of his childhood in Ramallah. Man, once you start to have the curtain pulled back, I can see how you probably just obsess over this because you see it everywhere. He wrote two other books titled The Fiat Standard and Principles of Economics. On the other hand, if you just pay for that house by debt, not only are you not having to save and therefore not having to suffer from inflation, youre actually benefiting from the inflation, because when the bank is giving you those million dollars, the bank has effectively made a million dollars out of thin air. Though he has three books, only The Bitcoin Standard is for sale publicly. From money that is hard to move around to a money that is very quick in moving around, so I think its absolutely fascinating to witness this and Bitcoins continued rise, you know, its price just keeps going up over time, suggests that, in my opinion, this is a superior technology that is replacing an inferior technology. Benji Block: Wow, its fascinating to hear you draw those conclusions and see how money is underlying all of that. He has a keen interest in Austrian Under digital fiat regimes, we usually think of this revenue as the interest income on assets corresponding to the portion of the central banks liabilities that it doesnt have to pay interest on. It is an ever-growing bubble of debt that just keeps growing and growing and growing and the currency continues to devalue and decline in value over time, thats just how the system works. Heralded by promises for the long-awaited economic empowerment of digital art and the paradigmatic shift of creative production, the art market’s fusion with blockchain technologies and the crypto economy has polarized opinions among artists, cultural workers, and economists. WebJust dumped half of my entire net worth into Bitcoin after researching the technology. Outlining the Fiat Standards purposes and failures, deriving the wider economic political, and social implications of its use, and examining how Bitcoin will affect it over time. I explained why In this video I made if you want to know more. Although Saifedean Ammous has Started in 2017, Techiegamers is now home to over 500,000 visitors every month and has been featured on websites such as the LA Times, Yahoo, MSN and many more. 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. (949) 799-2165. The reason that this Fiat System didnt collapse and get replaced by gold, is that you just cant send gold around the world. You are making trade-offs with your future self, Be conscious of this, it helps you make better decisions, you start considering the consequences in the short-run and the long-run. BlockBurn @agoldenliger 5 months ago @QuestioningBTC @schulzzy #Bitcoin doesnt discriminate. [B]ut the public determines the real demand for money.. Because no matter how much money you have, if you have money its constantly losing value so you cant just have money. Nocoiners need to specify at what price they would admit bitcoin has succeeded or shut the fuck up forever. Saifedean Ammous is an assistant professor of economics at the Adnan Kassar School of Business at the Lebanese American University and a member of the Center on Capitalism and Society at Columbia University. 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? Unless people want to burn the new money in their fireplaces, they must hold these increased cash balances. Benji Block: Yeah. Could you explain the difference between hard and soft money? You can order it from Amazon as well as pretty much anywhere where books are sold. With money, with a hard money that can hold onto value, you have a reliable way of providing for yourself tomorrow, so you can put your money, you can put your wealth, you can put the value that you produce in the hard money. Prices range from $15 per month for beginners to $1,000 per year for the Institutional subscription. Was it a conscious decision to come out with the Bitcoin Standard first then, knowing you were going to go into the Fiat Standard? It explains why its interesting and why it matters, The book is dedicated to his daughter, to immortalize his thoughts in writing for her, to have forever, Looking to the future, If Bitcoin succeeds, it will be like the sewage system or electricity: its one of the best things of our civilization but nobody will talk about it. , It will be like the plumbing system, vital but unseen. Thats really the process of human civilization, the ability of us to think further into the future to provide for our future more and more and to discount the future less and less. In 2018, he became an Associate Professor at the Lebanese American University. Its incredible. This is also one of the key points of The Bitcoin Standard, which is that as money gets harder. However, YouTube is not his main income source. 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. 4. 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. WebSaifedean Ammous is Assistant Professor of Economics at the Lebanese American University. They self-selected via Saifedeans twitter feed. 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. Indeed, Saifedean has added an enormous fortune to his account with his multiple works. In fact, if you look at the 19th century, the average American used to eat something like two or three times as much meat as they do right now. And you have a pretty good chance of having it there for you next year. Theyre from The Bank of England and they were only released in 2017 and 2019. Well, thanks so much for taking the time to be with us here on Author Hour today. Saifedean Ammous ( @saifedean) is a Bitcoin economist and author of The Bitcoin Standard Check out his website Read the Podcast Notes from Stephan Livera Podcast, where Saifedean explains Bitcoin as a Savings Technology Host Daniel Prince ( @princey1976) Why Saifedean wrote The Bitcoin Standard and setting up in Montenegro and they have a company called Bitcoin Reserves, which is going to service high net worth individuals within European countries. Saifedean Ammous is a bestselling author, professor and one of the most well-respected economists in the world. If we wish to know more about his career and work, we can go through his site. 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. I wonder if there would be maybe one more youd want to highlight before wed start to wrap up here. ) is Assistant Professor of economics at the Adnan Kassar School of Business at Lebanese American University . He creates new knowledge thats valued by his customers, because it helps them to think better and better informs And they kept on kicking the can down the road and its survived for a century. Save my name, email, and website in this browser for the next time I comment. Moving onto the Saifedean Ammous wife, he is a married man. "This book blew my mind; it is a work of genius. Saifedean Ammouss Wikipedia page has not been featured on any But then, with The Fiat System, and I ran the numbers over the last 60 years, on average, the average Fiat currency has increased in supply at around 30% per year. Dr. Ammous holds a It doesnt need central banks in order for it to travel. Because of this, Saifedean Ammous quit his teaching job and focused his efforts on crypto advocacy. You see it in architecture, we build buildings that fall apart in 30 years whereas, in the 19th century, they built buildings that last 300 years. Web#Bitcoin will be adopted like gunpowder: if you dont own it, youll be its victim. -@saifedean. You see it in peoples commitment to family; people were far more committed to their families in the 19th century. Detailed podcast notes can be found here. Feb 23, 2023 @saifedean. Ammous holds a Ph.D. in Sustainable Development from Columbia University. There is a much bigger scope for conducting many, many, many more transactions across the world with Bitcoin. We went from, in the late 19th century, we had a form of money that was gold whose supplied globally increased by around 2% per year. WebSaifedean Ammous is a world-renowned economist and author of The Fiat Standard: The Debt Slavery Alternative to Human Civilization, The Bitcoin Standard: The Decentralized Alternative to Central Banking and the forthcoming textbook Principles of Economics. He creates new knowledge thats valued by his customers, because it helps them to think betterand better informs their actions. Get Saifedean Ammouss new book, The Fiat Standard,at Amazon.com. He and his family relocated to Lebanon when WebDr. So, prices had practically doubled by the end of World War I, which was a massive problem for the British economy and that inflation, that price inflation, that happened was a big problem for Britain after the war because Britain wanted to go back on the gold standard, but they couldnt go back from the old exchange rate. Even though the Fed backstops government debt markets, implicitly and explicitly, its overwhelmingly clear that government spending is much, much larger than that. Archived. His accumulated knowledge was valid for the university professor track. Hes a Bitcoin maximalist and advocate of the sound money theories of Ludwig von Mises and Austrian school economics. It almost seems in some ways like you went backwards, but you did it on purpose. He teaches economics and hosts a podcast through his website, saifedean.com. Saifedean Ammouss age has not been disclosed on any social media platform, so his age remains a mystery. In The Bitcoin Standard, Saifedean looks back to the nineteenth and early twentieth century as a period of technological innovation by entrepreneurs under the gold standard, bringing us indoor plumbing, electricity, the internal combustion engine, airplanes and elevators, among many more. His creation, The Bitcoin Standard, is published in 21 different languages with more than 800 Amazon reviews and is widely considered an essential book for understanding bitcoin economics. The question remains: Where is all the supposed money coming from? Web$8.99 Read with Our Free App Audiobook $0.00 Free with your Audible trial In The Fiat Standard, world-renowned economist Saifedean Ammous applies his unique analytical lens to the fiat monetary system, explaining it as a feat of engineering and technology just as he did for bitcoin in his global best seller The Bitcoin Standard. Saifedean Ammous. Being conscious of this helps you make better decisions. The next step was and that The Bank of England effectively started confiscating the gold from people in England and it was a systematic process over five years from 1914 to 1919 where post offices and banks were told to take payment in gold and only give payment in banknotes in order to try and reduce the amount of gold in peoples hands and take the gold for the Bank of England to allow the Bank of England to keep the exchange rate between the banknotes and gold fixed and have to finance the war effort. It wasnt like that. Saifedean Ammous (@saifedean) / Twitter Saifedean Ammous @saifedean Author of The Bitcoin Standard, out in 36 languages, The Fiat Standard & the forthcoming Ammous holds a Ph.D. in Sustainable Development from Columbia University. 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. He claims schools are broken because they have an infinite supply of fiat money at their disposal and teachers on fiat salaries destroy education; higher education and scientific research are broken because they rely on an endless supply of government grants, enabled by fiat money, which results in botched research. In addition, Saifedean associates the Austrian concept of lowering time preference with entrepreneurial success. Show us the smoking gun, please. And are all these institutions and their bureaucrats really funded by their central banks? It put together the technical, economic, motivational and related issues around Bitcoin better than anything I've seen. We'd love for you This content is reserved for the thousands of visionaries supporting the financial revolution. Getting others into debt is the Fiat Standards version of gold prospecting. How does that play such a key role in the system? Saifedean Ammous: It was just something that I found very interesting early on. It has all the nutrients that your body could eat. One answer could be a hypothetical argument from nowhere, that is that absent soft money, the US government would pay much more on its debt, which would make deficits costly, thus forcing the state to become smaller (and a smaller one wouldnt, somehow, distort schooling or science or architecture etc). If you weigh that by the value of the currency so that we dont give equal weight to the Venezuelan bolivar and the US dollar we measure it in terms of weight, so that the dollar is more represented in that calculation because a lot more value is stored in the dollar than there is in the Venezuelan Bolivar we still get an average of 14%. People had better things to do than spend their money on fighting pointless wars in Europe. 10. To say that fiat printing is the reason the government spends so much misses the taxation elephant in the room. He carefully appraises the knowledge provided by great thinkers of the past, and re-presents in a newly compelling fashion. In fact, the majority of dollars are not physical dollars that get printed. Then, the British government had a problem because how were they going to finance the war when people dont want to buy the bonds. Saifedean Ammouss Wikipedia page has not been featured on any social media platforms despite his popularity in todays world. How can the government make you think that inflation isnt very high? Adam Mastroianni discusses why peer review, the greatest scientific experiment in history, has failed and why that is a great Johnathan Bi and Russ Roberts discuss Mimetic Theory, Rene Girard, physical desires vs metaphysical desires, authenticity, positive vs C Stanley Druckenmiller is an American investor, hedge fund manager, and philanthropist. They used to eat more meat back in the 19th century, and meat is the most nutritious thing that you could eat. Saifedean was born in the State of Palestine and spent most of his childhood in Ramallah. Whereas the dollar is harder because nobody in the local economy can make more of it and the foreign central banks that make it are a lot more restrained in its production. Saifedean Ammous: Thank you. This is kind of the big misconception that people have today that the Great Depression happened because of the gold standard. This unfolding timeline is an excellent example of the entrepreneurial method at work. Think about it globally. Dr. Ammous holds a PhD in Sustainable Development from Columbia University, where his doctoral thesis studied the economics of biofuels and alternative energy sources. Saifedean blames this on government financing ruining incentives, Instead of a meritocracy, you have to play by the rules to be let in and be given the funding, Result: academia has optimized away from usefulness and towards playing the game. His Saifedean Ammous is author of the seminal book,The Bitcoin Standard, which has been Jeff Deist and Saifedean Ammous discuss the crypto technology revolution and private money. 156 835. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. He also holds an MSc in Development Management from the London School of Economics, and a Bachelor of Engineering from the American University of Beirut.

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