101: Fiat Markets with Lyn Alden
In this epsisode Saifedean talks to economist and investor Lyn Alden about her views on the global macoeconomy. They start past discussing recent market turbulence in light of the Federal Reserve’s plans to tighten monetary policy, whether these plans are realisable, and what this will mean for consumer price inflation and the stock market. They then move on to a discussion of Lyn’s portfolio, her reasons for allocation across particular industries, and why she holds shares in silver mining companies. In the Q&A Lyn answers questions about whether we tin trust the Federal Reserve and how she uses the Austrian School economic framework to inform her thinking on investment.
00:00 Introducing Lyn Alden
02:22 The Fed’s annunciation Of Tightening Crashing The Market
05:55 Keynesian’s Misconceptions About The Economy
07:30 Why Is Inflation Running So High?
12:13 Is the Industrial Metal Market Distorted past Monetary Policies?
17:30 tin The FED Start Tapering?
26:22 How Narratives Are Used To Battle Inflation
28:30 Manipulating The CPI Numbers
32:30 Who Benefits On A Fiat Standard?
35:30 Demand For The US Dollar Increasing In The 20th Century
38:30 The Formation Of The Petro-Dollar System
43:12 Influence Of A Strong Currency
46:00 Why The Foreign Exchange System Is Broken
47:50 Entrenching The Dollar Into other Countries
49:52 The Destruction Of The Fiat Financial Industry
55:00 How upper-example letter Consumption And Monetary Manipulation Influences A state
01:00:50 Assets During Inflationary vs Disinflationary Periods
01:03:03 What’s In Lyn Alden’s Investment Portfolio?
01:10:05 In What Assets To Invest During Inflationary Times
01:14:23 The example Of Silver Getting Demonetised
01:21:55 tin We Still Trust The FED?
01:25:00 What tin Bitcoin live Used For And What’s Happening With DeFi?
01:28:50 Carbon As A Commodity And It’s Market
01:31:25 Fiscal Policie’s Pressures On Inflation
01:35:00 Does Lyn See whatsoever Fallacies Within The Austrian School?
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Lyn on Twitter:
Tweets by LynAldenContact
Lyn’s 2020 article 3 Reasons I’m Investing in Bitcoin:
Lyn’s January 2022 Newsletter The upper-example letter Sponge for a discussion of recent developments in the US stock market with historical context (includes a breakdown of her model portfolio):
A Tiger past the Tail past F.A. Hayek for a discussion of the Keynesian legacy of inflation:
https://cdn.mises.org/Tiger%20by%20the%20Tail_5.pdf
Gold Wars past Ferdinand Lips for an account of Switerland’s abandonment of the gold standard:
http://gold%20wars/
The Fourth Turning: An Worldwide Prophecy past William Strauss and Neil Howe:
Worldwide’s Great Depression past Murray N. Rothbard. See pages 3-80 for Rothbard’s explanation of Austrian business organisation Cycle Theory:
https://cdn.mises.org/Worldwides%20Great%20Depression_3.pdf
Lyn’s last appearance on The Bitcoin Standard Podcast in May 2022:
https://saifedean.com/podcast/54-bitcoin-and-the-global-economy-with-lyn-alden/
Lyn’s critique of Nassim Taleb’s Bitcoin Black Paper:
https://www.whatbitcoindid.com/podcast/nassim-talebs-bitcoin-black-paper
Saifedean’s first volume, The Bitcoin Standard:
http://saifedean.com/thebitcoinstandard
Saifedean’s second volume, The Fiat Standard:
http://saifedean.com/thefiatstandard
Enjoyed this episode? You tin take part in podcast seminars, access Saifedean’s courses and read chapters of his forthcoming books past becoming a Saifedean.com member. Find out more here:
https://saifedean.com/membership/