Interview | Description | Timestamps | Show Notes

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Location: Remotely
Date: Thursday 15th July
Company: Validus Power Corp, Bitcoin Magazine
Role: Bitcoin Strategist, Director of Financial Markets & Research

In Ray Dalio’s video How the Economic Machine Works, he explains the concept of deleveraging long-term debt cycles. Currently, central bankers have pulled all the levers they can to avoid unwinding the supercycle of global debt, but eventually, something has to give.

The final tool that central bankers have to avoid creative destruction is inflation, and it is now a mathematical certainty that a devaluation of fiat currencies is coming. Is the rise of Bitcoin the only logical conclusion to the fiat money system?

In this interview, I talk to Bitcoin Strategist Greg Foss and Dylan LeClair from Bitcoin Magazine. We discuss crony capitalism and perpetual bailouts, why debt cycles spell inflation, and how the world will turn to Bitcoin. 

00:05:38: Introductions
00:12:34: Steve Hanke won't understand Bitcoin
00:18:18: Ray Dalio and the long-term debt cycle
00:29:07: There's no way out
00:34:41: Three types of monetary policy
00:48:08: A brief history of money and the nation incentives
00:54:10: The great debt jubilee will be hyperbitcoinisation
00:57:40: Scenarios for a cataclysmic event
01:01:22: The smart money is in Bitcoin
01:09:23: How the debt jubilee could play out
01:19:53: Dylan's recommended reading material
01:21:34: Final comments

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Connect with Dylan:

• On Twitter

• Read his article

Connect with Greg:

• On Twitter 

• On LinkedIn 

Mentioned in the interview:

• The Conclusion of the Long-Term Debt Cycle and the Rise of Bitcoin | Dylan

• How the Economic Machine Works | Video, Ray Dalio

• Steve Hanke

• Credit Cycle

• Why is everybody talking about bond yields, what the hell are they talking about, and why should I care? | William Elman

• Discount Rate

• Creative Destruction

• Monetary Policy

• Quantitative Easing (QE)

• Troubled Asset Relief Program (TARP)

• How Central Banks Monetize Government Debt

• Wall Street Crash of 1929

• Malinvestment

• Argentine monetary crisis

• The Investor’s Podcast | Preston Pysh

• The Bitcoin Standard: The Decentralized Alternative to Central Banking | 1119473861

• The Bullish Case for Bitcoin

• Satoshi Nakamoto Institute

• IBEX Exchange

• “Come to #BitcoinLake in Atitlán” Carlino @carlostoriello on Twitter

• Steffann Allen @SteffAllen1 on Twitter

Other Relevant WBD Podcasts:

• WBD317: What Traditional Investors Think of Bitcoin with Raoul Pal

• WBD314: Sovereign Bonds & Bitcoin with Lyn Alden

• WBD293: 2020 Bitcoin & Macro Review with Lyn Alden

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

• WBD275: The Money Revolution with Raoul Pal

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

• WBD246: Modern Monetary Theory with Stephanie Kelton

• WBD245: Bitcoin: The Hardest Money with Richard James

• WBD235: The Myth of Deflation with Jeff Booth

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

• WBD213: WTF Happened in 1971 with Ben Prentice & Heavily Armed Clown

• WBD192: Beginner’s Guide #11: Bitcoin and the Macroeconomy with Travis Kling

• WBD032: Tuur Demeester on the Looming Debt Crisis and Central Banks for Bitcoin