Gold, Bitcoin & Inflation with Lawrence Lepard

 
 

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“We need to live in a deflationary world. Therefore, we need a currency which matches that world. So we’re trying to push an inflationary currency story (based on Keynes’s wrong premises), against a deflationary world that needs more efficiency, not more growth.”
— Lawrence Lepard

SHOW DESCRIPTION

Lawrence Lepard is an Investment Manager and Austrian Economist. In this interview, we discuss gold and Bitcoin, comparing their relative benefits as assets over short and long time scales. We also discuss inflation, the potential threats to Bitcoin, inequality in society, and the challenges of finding credible leaders in politics. 

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As the world grapples with an uncertain financial future, it's becoming increasingly important to diversify your investment portfolio. The two obvious assets designed to weather the coming economic storms are Bitcoin and gold. Whilst the relationship between gold bugs and Bitcoiners has been adversarial over the years, the two assets are two sides of the same coin.

There are important differences between the two: Bitcoin is digital gold, which enables it to be used in ways beyond the capacity of gold; but gold has a 5,000-year head start on Bitcoin, and can therefore provide less volatility in the short to medium term. But, the primary demand for both as a store of value is predicated on the same thesis of limited supply. They both, therefore, serve as a hedge against inflation.

In essence, the investors in both assets are well aligned in terms of their concerns about the global economic system. Goldbugs and Bitcoiners understand the value in sound money, and the risks posed by the current fiat system. Rather than being suspicious of each other, there is much to be said about orange-pilling gold bugs, and similarly, Bitcoiners being open to investing in gold.  

The big picture is that both gold and Bitcoin present a risk to the current economic system. It is likely that they will both be subject to attacks and controls by those seeking to reinforce the current system, as the cracks and fissures widen. Any meaningful divisions can and will be exploited: divide and conquer is a military tactic as old as politics and war. We, therefore, need alliances. Lawrence Lepard is one of those seeking to build a bridge between the two groups.

TIMESTAMPS

00:01:31: Introductions
00:04:37: Personal asset portfolio
00:11:56: Gold bugs and Bitcoin
00:21:23: Ignorance of the monetary system
00:25:39: Central banks and the current banking crisis
00:34:17: The fourth turning
00:38:07: CBDCs and UBI
00:41:00: Robert Kennedy Jr on the JFK assassination and Bitcoin
00:54:39: Spreading the word about Bitcoin
00:59:09: Elizabeth Warren, and liberal bitcoiners
01:02:13: Final comments

 

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SHOW NOTES

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Mentioned in the interview:

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