222. Central Banking Works

Saifedean's talk at the Canadian Bitcoin Conference is an admission that central banking works. Given what we know about the economic calculation from Austrian school economists, central banking is a highly successful business!

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Saifedean’s first book, The Bitcoin Standard:

Saifedean’s second book, The Fiat Standard:

Saifedean’s third book, Principles of Economics:

[DeoVolente]

Keep pumping content Saif, people need to be informed

[MultiHinrik]

It's funny how property rights and opportunity costs are usually inseperable yet there is one exception which are central banks. Economic calculation is impossible without opportunity costs.

[vicinityfpv]

Great presentation.
However, PLEASE consider using dark mode for slides. White text on a grey background is so much easier on the eyes.
Black text on a white background makes sense for books. But with backlit displays, it damages vision.

[tomaspecl]

TLDR: central banking works well for central bankers :D

[iand]

I thought for a moment that Saifedean had been paid a visit from the boys! Glad I stuck with it 🏦...

[nicholasscholten]

That book us one tough read. I think I made it through about 80 pages.

[aslkdjfzxcv]

always goid to keep people on their mental-toes.

[christinewillis]

This is the first time I've listened to you Saifedean. I must be really dumb. I knew that Federal Reserve Bank was privately owned. You say that ALL Central banks are privately owned. Can you direct me to where this can be verified please.

[eanerickson]

Central banks are ok. quantitative easing and too big to fail is wrong.

[LoloLovesLife]

I'm 5 minutes in and I'm very confused.

[adammontgomery]

To the last guy; buy the real estate. It's tangible, stable, will provide cash flow, and will never go to zero.

[dameanvil]

Once more the intellectually lazy Mises Institute academics are put to shame.

[tomaszsurdej]

MISES-ROTHBARD LESSON - LWÓW-WARSAW SCHOOL OF MATHEMATICS AND ECONOMY (Lange and Kalecki are the heretical cousins of our intellectual tradtion)

I was hungry today morning.
I wanted meat, spefically beef.
I remembered today is a fasting day for Catholics as it is the Wednesday after Pentecost. I asked for tofu pad thai ready to pay 26 zł for a plate.
They said they don't sell pad thai until 12.00.
I looked at my wallet and said at the buffet - give everything you have for 12 zł, then 10 zł.
Then I took the plate, sat down, ate a bite, and after one bite, I said I had eaten too much.
I needed 1 zł of meat, yet at 10 am I thought I needed a 400 g plate of pad thai.
See how religion affects the economy?

[tomaszsurdej]

35:52 - What good is real estate, if you don't make money off it. Are you a farmer, that you know how to make natural welfare? Because Bitcoin is the cyber welfare benefit.

[tomaszsurdej]

I think Bitcoin is lichwa/leehva. In one of two liturgical languages of my region - Lesser Poland - we call usury lichwa. All the Slavs call it lichwa. I can't believe that it is anything besides the rehypothecated credit contracts behind the American credit card business.
adwokat Tomasz Surdej - bar of Kielce, Poland.

[tomaszsurdej]

God in His blessing has given Europe rain! Since we survived the three or four farmers, 13th-15th May, God has blest us with rain! Now convince why I should buy Bitcoin instead of cherries and plums in June - because I value cherry liquor over Bitcoin. Convince that the Benutzungwert of the cherries from the hands of the local Jews is/isn't greater than Bitcoin.. God, give me money to buy cherries and plums all three months of the harvest season!
adwokat Tomasz Surdej - bar of Kielce, Poland