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Everything You Know About the Economy is Wrong with Jeff Snider
What Bitcoin Did with Peter McCormack

Everything You Know About the Economy is Wrong with Jeff Snider

Jul 18 2022 • 1hr 38m

Show Notes

“The inflation target is, pardon my French, bullshit. And it’s supposed to be: it reinforces the idea that the Federal Reserve is a central bank, and therefore, it is targeting inflation and just responsible for inflation; but it simply reinforces what the Federal Reserve actually does, which is trying to manipulate opinions and emotions.”— Jeff SniderJeff Snider is co-host of the Eurodollar University podcast and Head of Global Research at Atlas Financial Advisors. In this interview, we discuss the fundamentals of money, how the Eurodollar controls the global monetary system, and signals of a deflationary depression. - - - - The common narrative about the global economy is bleak. Money printing by central banks has been out of control. This new money fed into the economy and resulted in runaway inflation. Years of interest cuts to stimulate economies means cash is now trash, whilst economies are stagnating. Debt is unmanageable. The search for alpha is focused on wealth protection. But others think this narrative is wrong. Our perceived reality is a mirage. Central banks are not in control of the levers of money, they are mere bystanders playing the role of the wizard behind the curtain. The global monetary system is controlled by an opaque and unregulated dollar exchange market developed in the 1950s: the Eurodollar system.The Eurodollar market is sending signals that defy the forecasts that inflation will endure. The market predicts inflation will be transitory. In its wake, an aggressive period of deflation will soon rock the global economic order. Various economists over time have argued that whilst inflation is damaging, deflation is a worse evil. It has been blamed for depressions throughout history. If these forecasts are right, we could be about to enter a period of significant economic stress.Whilst there is consensus on the cause of the current economic malaise, i.e. profligate behaviours within the financial industry, opinions on solutions couldn’t be more different. Those who follow Eurodollar signals believe global financial systems need more US dollars in the form of debt. A lack of liquidity is leading to a lack of risk-taking that is hurting the global economy.So, as we stand on the brink of widespread societal hardship, we have a representation of cause and response at odds with conventional wisdom. With the stakes so high, can we afford to reject these emergent opinions?- - - - This episode’s sponsors:Gemini - Buy Bitcoin instantlyBlockFi - The future of Bitcoin financial servicesBitcasino - The Future of Gaming is herePacific Bitcoin - Bitcoin‑only event, Nov 10 & 11, 2022Ledger - State of the art Bitcoin hardware walletCompass Mining - Bitcoin mining & hostingCake Wallet - Open-source, privacy-focused Bitcoin walletBCB Group - Global digital financial Services-----WBD528 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.
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@user7062438900943674
10,000 sats
Jul 20 2022
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@partb
500 sats
Jul 21 2022
very interesting ideas! I created five clips from the conversation!
@puddingtonbeer
500 sats
Jul 23 2022
This was very nearly everything I hoped it would be, and I'm glad Peter took it seriously, saw the sense, and is open to follow-ups with Jeff to get into more detail. Thanks for doing this, Peter. it seems you turned it around very quickly, at least relative to when I started tweeting about it, though I don't presume to have had any influence. Very recently you tweeted you were open to having Jeff on the show, and surely thereafter you published an excellent episode. Thanks also to Danny.
@nahojz
500 sats
Jul 18 2022
Great episode
@blessallah786
500 sats
Jul 19 2022
mindblown
@jennyjamz
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@ernes
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@spencerlm
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Jul 30 2022
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@saentari
100 sats
Jul 18 2022
Agree or disagree, but contrarian opinions make great discussions.
@kingting
100 sats
Jul 19 2022
finally a show about the ledger money. japan ran into liquidity trap and deflation precisely because banks dont want to lend, they want more safety and liquid asset. i guess this is why CBDC and FED account are on the table, direct intervention with the market.
@spencerlm
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@intimebtc
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@user2837840254782962
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@maktub786
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@troska
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@kslim
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Aug 5 2022
Interesting perspective 👍
@user8081559942643920
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@joelw
33 sats
Jul 18 2022
nobody ever wants to talk about it, but a lot of the so-called great resignation and why people arent going back to work is due to jab mandates and other covid bs. how do I know for sure? because I lost my career for that exact reason, and would never take another job that puts me in the same boat. testing masks and jabs turn people away more than wages being too low.
I think you’re right it’s multi-faceted, I wouldn’t take a job at double the pay if I had to mask up everyday and get boosted every 6 months. for 100x the pay I might consider it though. I think the great resignation being a bit of a myth is mostly true. most of the non-workers who have dropped out of the labor market would return if they could return enough income for their particular skill level.
@joelw
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Jul 18 2022
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@unitofacc
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@btcera
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@user5372626526163844
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@zoltan
20 sats
Jul 26 2022
Money: any medium of exchange. Everything could be it only depends on who is accepting it. If you accept shitcoin for your goods or services than that's money for you. At the end of FIAT money there won't be any new shit anymore. Just Bitcoin.
@nursewang
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@gusespinel2
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@floki
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@ryguy022
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@purton
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@jaygolder
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@yeahyeahsayer
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@user3
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@andress79480500
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Aug 19 2022
👍
@coca
2 sats
Jul 29 2022
Gracias dinero
@julien
2 sats
Jul 19 2022
Interesting controversial thoughts. Always good to have different ideas and opinions, even if you disagree.