"Base money is a liability of the central bank, and it’s used as a reserve asset by commercial banks. Broad money is the liability of commercial banks, and it’s used as a savings asset by the public. Treasuries are liabilities of the federal government, and they’re used as collateral by the central bank and commercial banks. In other words, liabilities are collateralized by other liabilities, all the way down." - Lyn Alden Today we dive into another great piece from Lyn Alden's newsletter on the macro situation. What happens when you build a monetary system from nothing but liabilities, and then manipulate the price of interest such that the economy goes ever deeper into debt? Unfortunately we are all about to find out. But luckily we have Lyn Alden to break it down for us, with Read_631 on Bitcoin Audible. Link to the article and other great stuff on Lyn's investment blog: https://www.lynalden.com/ecb-trapped/ For the best products and services to get you started in Bitcoin, our sponsors are literally a handful of those that I use most in this space: • Get Bitcoin rewards on literally everything you buy with the Fold Card (guyswann.com/fold). Get 20% off with discount code BITCOINAUDIBLE. • Buy Bitcoin automatically and painlessly with SwanBitcoin (swanbitcoin.com/guy) • Keep your Bitcoin keys safe on the secure, open source BitBox02 (guyswann.com/bitbox). Discount code GUY gets you 5% off. Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"Bitcoin is a lifeboat on the sinking fiat ship. Lifeboats on a sinking ship don’t need a marketing department." - Francis P. As New York puts a ban on Bitcoin mining in the state, as the white house decides it's going to come up with "Bitcoin mining policy guidance," it seems like a good time to prepare our response. Cry Harder. Francis Pouliot brings us a fun and short exploration of Brandolini's law, the problem of arguing with idiots, & why Bitcoin isn't changing, no matter how much the haters squeal. You are in for a treat. Link to the original article: https://medium.com/@francispouliot/cry-harder-31a599a2e343 For the best products and services to get you started in Bitcoin, our sponsors are literally a handful of those that I use most in this space: • Get Bitcoin rewards on literally everything you buy with the Fold Card (guyswann.com/fold). Get 20% off with discount code BITCOINAUDIBLE. • Buy Bitcoin automatically and painlessly with SwanBitcoin (swanbitcoin.com/guy) • Keep your Bitcoin keys safe on the secure, open source BitBox02 (guyswann.com/bitbox). Discount code GUY gets you 5% off. Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message