Fix the Money Fix The World with Lawrence Lepard

 
 

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“I think it’s over… it’s changed, we are now in an inflationary environment, get used to it, get ready for it, prepare for it, protect yourself against it.”
— Lawrence Lepard

SHOW DESCRIPTION

Location: New York
Date: Wednesday 27th October
Company: Equity Management Associates
Role: Investment Manager

Bitcoin is decentralised sound money whose supply cannot be arbitrarily expanded. It’s a system where no one has an advantage or disproportionate control.

The ability to increase the supply of money is a very powerful tool to wield. Through monetary policy, orthodox economists aim to promote growth and mitigate crises.

However, the Austrian school of economics explains instead that central banks create the environment for crises in the first place.

In the Great Financial Crisis, trillions of dollars were printed to bail out failing banking institutions and stimulate the economy. Instead of repercussions, many bankers received millions in bonuses. While credit markets rebounded, many average Americans lost their homes, their jobs and received no bailouts.

So can Bitcoin help by aligning incentives in society? And what will happen to gold?

In this interview, I talk to Investment Manager and Austrian Economist Lawrence Lepard. We discuss sound money as a moral issue, the monetary role of gold, and why bitcoin is the most important invention in history.

TIMESTAMPS

00:02:35: Introductions
00:03:08: Lawrence's background
00:06:28: Peter's background
00:09:57: Sound money
00:12:26: From the creation of the Fed to post-WWII
00:17:39: Breaking the gold standard 1971
00:20:44: Deflation
00:27:49: The current inflationary environment
00:40:45: Breaking the social contract
00:47:07: Teaching financial literacy
00:51:58: The myths around sound money
00:55:55: Gold vs Bitcoin
01:04:00: The risk of Tether
01:05:06: A caution around leverage
01:10:10: Bitcoin standard is coming
01:18:06: All money is just a ledger
01:19:26: Bitcoinising the world
01:29:58: Bitcoin is a defence against the government
01:39:28: Everything's fine for Bitcoin
01:40:21: Final comments

 

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SHOW NOTES

Connect with Lawrence:

Mentioned in the interview:

Other Relevant WBD Podcasts:

PodcastPeter McCormack