Interview | Description | Timestamps | Show Notes

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Location: Remotely
Date: Friday 18th December
Company: lynalden.com
Role: Macroeconomist

2020 has been a year unlike any, even before the coronavirus pandemic, the global economy was showing signs of stress. With the outbreak, the spread of the virus and subsequent lockdowns, governments worldwide resorted to unprecedented levels of monetary and fiscal stimulus to keep the flailing economy afloat.

With the record levels of money printing and the ballooning money supply, many earmarked 2020 as the year that Bitcoin could prove itself. 

In the last few days, Bitcoin has hit all-time highs of around $24,000, but unlike 2017, it is not just retail investors that have flocked to Bitcoin.

MicroStrategy has paved the way for institutional investors to own Bitcoin by not only converting $450m of their treasury to Bitcoin but raising an additional $650m by way of a convertible senior note sale to buy more Bitcoin.

MicroStrategy, legendary macro investors Paul Tudor Jones and Stanley Druckenmiller have taken positions in Bitcoin, signalling a new era of Bitcoin investors.

In this interview, I am joined by Lyn Alden, a macroeconomist and founder of Lyn Alden Investment Strategy. We discuss the coronavirus pandemic's impact, the increase in the broad money supply, high inflation and institutional investment in Bitcoin.

00:03:22: Introductions
00:05:19: 2020 economic shock
00:08:46: Impact of the government stimulus packages
00:15:30: Is a dotcom crash on the way?
00:17:21: Tesla
00:19:40: 2020 vs a normal recession
00:21:17: The euro
00:24:15: The broad money supply
00:30:12: The possibility for an inflationary shock
00:35:26: Inflation during the 1940s and 1970s
00:38:04: The "Great Monetary Inflation"
00:38:54: MassMutual
00:42:00: The myths surrounding money printing
00:43:17: What to watch for in the economy
00:47:57: The Fourth Turning
00:50:23: Impact of population movement
00:52:39: Fewer hurdles to investing in Bitcoin
00:55:42: Final comments

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• Mentioned in the interview: 

  • The Fraying of the US Global Currency Reserve System

  • The Global Dollar Short Squeeze 

  • Coronavirus: Japan suffers its biggest economic slump on record 

  • The Great Lockdown: Worst Economic Downturn Since the Great Depression 

  • New Relief Package Provides Next Round Of PPP Funding For Small Businesses 

  • Second stimulus check: How much to expect from new Covid relief 

  • $1,200 stimulus checks for all? What to know about the US coronavirus bailout 

  • Coronavirus: Millions of Americans set to lose key $600 benefit 

  • Robinhood Has Lured Young Traders, Sometimes With Devastating Results 

  • Tesla Is Overvalued: Investors Are Treating It Too Much Like A Tech Company, Says Morgan Stanley 

  • What is Broad Money?

  • The ballooning money supply may be the key to unlocking inflation in the US 

  • Dot-com bubble

  • Twenty years after the dotcom crash, is tech’s bubble about to burst again?  

  • Europe is on track to repeat its fiscal policy mistakes 

  • How the Great Inflation of the 1970s Happened 

  • Inflation and CPI Consumer Price Index 1940-1949

  • The Fourth Turning: An American Prophecy

  • The Sovereign Individual: Mastering the Transition to the Information Age 

  • A Legendary Hedge Fund Billionaire Just Flipped To Bitcoin—Calling It 'Better' Than Gold 

  • Legendary Investor Stan Druckenmiller Turns Bitcoin Bull 

  • Bitcoin Undervalued Relative to Gold, Equities, Tudor Jones Says 

  • Bitcoin will go 'substantially higher' over the next 20 years as adoption of digital currencies increases globally, says billionaire Paul Tudor Jones

• Other relevant WBD podcasts:

  • WBD286: MicroStrategy’s Bitcoin Moonshot with Andy Edstrom

  • WBD281: No Escape from Bitcoin's Gravity with Nik Bhatia

  • WBD279: The Institutional Case for Bitcoin with Dan Morehead and Mike Novogratz

  • WBD275: The Money Revolution with Raoul Pal

  • WBD269: The Bitcoin Bull Bull Bull with Michael Saylor

  • WBD268: Bitcoin in the Boardroom with Michael Saylor

  • WBD262: Why a Currency Devaluation is Likely with Lyn Alden

  • WBD261: Bitcoin: The Great Disruption with Luke Gromen

  • WBD257: Bitcoin Has Entered Phase 5 with PlanB, Jeff Booth & Preston Pysh

  • WBD232: Bitcoin's Time is Now with Preston Pysh

  • WBD225: Bitcoin is the Answer with Cameron & Tyler Winklevoss

  • WBD211: Bitcoin's Coming of Age with Dan Morehead

  • WBD161: Nik Bhatia on Why Bitcoin is a Response to Central Banks

  • WBD055: Vijay Boyapati's Bullish Case for Bitcoin