jakewoodhouse on Nostr: “There’s too much debt. And in a world of too much debt, they’ve got to print ...

“There’s too much debt. And in a world of too much debt, they’ve got to print more money. And in a world where they’re going to print more money, you want to own the hardest money available to you. That used to be gold — but today, it’s Bitcoin.

So that’s the short story. The longer story is: how did we get here? In a fiat money system, which we’ve lived with for over 50 years, how did the debt accumulate? How did we run giant deficits that got bigger and bigger over time.

Meanwhile, in a debt-based economy where interest rates are held too low, debt piles up at the personal level, the corporate level, and the government level. Shouldn’t all this make you want to buy gold? Yeah — it probably should.

And by the way — unpopular opinion for a Bitcoin podcast — I’m actually pretty bullish on gold. But for every dollar that accrues to gold, that’s just another dollar for Bitcoin to eat in the future, in my humble opinion.”

Andy Edstrom / Ep.36 / 00:31