My friend and fellow student of money codenamed "Lester" joins me for a multi-episode conversation exploring the excellent book "The Twilight of Gold" by Melchior Palyi.Twitter: https://twitter.com/ProgrammableTx Book: https://www.amazon.com/dp/B0006C31O4 // SPONSORS // In Wolf's Clothing: https://wolfnyc.com/iCoin Hardware Wallet (use discount code BITCOIN23): https://www.icointechnology.com/ Wasabi Wallet: https://wasabiwallet.io/ Bitcoin Apparel (use discount code BREEDLOVE): https://thebitcoinclothingcompany.com/ Feel Free Tonics (use discount code BREEDLOVE): https://botanictonics.com Carnivore Bar (use discount code BREEDLOVE): https://carnivorebar.com/ // OUTLINE // 00:00:00 - Coming up 00:00:32 - Intro 00:02:05 - Helping Lightning Startups with In Wolf's Clothing 00:02:51 - Money: An Abstract Battleground in Personal Relationships00:07:16 - The Importance of Talking about Money 00:10:05 - England's Return to the Gold Bullion Standard00:13:20 - Norman's Letter to the Bank of Norway 00:16:10 - Effects of the Gold Bullion Standard 00:20:00 - Controlling the Price Level 00:21:03 - The Power to Say 'No' 00:23:18 - Not Your Keys, Not Your Coins 00:26:13 - Central Planners Cannot Outsmart the Market 00:27:18 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet 00:28:15 - Impact of The Gold Exchange Standard 00:33:15 - The Myth of the Gold Shortage 00:37:19 - The Triffin Dilemma 00:41:55 - The Ratio of Total Dollar and Total Gold 00:43:39 - What Triffin Got Wrong 00:45:44 - Restating Why All Pegs Break 00:47:39 - Lester on The Most Likely Outcome of Continuous Inflation 00:50:53 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet 00:51:44 - Adopting Bitcoin Will Accelerate Dollar Inflation 00:54:00 - The Cross Currency Rails between Bitcoin and Fiat 00:56:49 - Advantages of the Bitcoin Standard 00:58:25 - Applying Triffin's Dilemma to Great Britain 01:04:03 - The Significance of Myths 01:05:59 - The Concept of Yield is a Lie 01:08:12 - Concluding the First Myth 01:10:13 - Where to Find "Lester" on the Internet// PODCAST // Podcast Website: https://whatismoneypodcast.com/ Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE? RSS Feed: https://feeds.simplecast.com/MLdpYXYI// SUPPORT THIS CHANNEL // Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22 Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove// WRITTEN WORK // Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/// SOCIAL // Breedlove Twitter: https://twitter.com/Breedlove22 WiM? Twitter: https://twitter.com/WhatisMoneyShow LinkedIn: https://www.linkedin.com/in/breedlove22Instagram: https://www.instagram.com/breedlove_22 TikTok: https://www.tiktok.com/@breedlove22 All My Current Work: https://vida.page/breedlove22