Beginner’s Guide #11: Bitcoin and the Macroeconomy with Travis Kling

WBD192 - Travis Kling - Large Banner.png

Where to find the show

Download Episode MP3 File
The file will open in a new window. Click down arrow to download the file.

“The concept and definition and role of money globally is on the brink of undergoing fundamental changes to the degree that we see once every couple hundred years.”
— Travis Kling

SHOW DESCRIPTION

Location: Skype
Date: Tuesday, 4th February
Project: Ikigai Asset Management
Role: Chief Investment Officer

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing. 

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world. 

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift. 

Beginners Guide Part 11 -Bitcoin and the Macroeconomy with Travis Kling

Bitcoin was born in the wake of the 2008 global financial crisis, the worst economic disaster since the great depression. A bubble born out of years of cheap credit and poor government oversight, Satoshi recognised this.

In 2009 as the UK's Chancellor of the Exchequer was preparing to bail out the UK's failing banks, for the second time, Satoshi Nakamoto was releasing Bitcoin to the world. 

Bitcoin's monetary policy is the antithesis of the central banks, by removing centralised decisions and forcing the market to fix itself. Further, It is a non-sovereign, global, immutable, digital, decentralised, hard money.

Twelve years on from the global financial crisis, some economists believe we may be heading towards a global recession. If this is correct, can Bitcoin become a hedge or insurance? Could it even emerge as the global reserve currency?

In Part 11 of the Beginner's Guide to Bitcoin, I talk to Travis Kling, Chief Investment Officer at Ikigai. We discuss the great big fiat experiment, monetary and fiscal policy, social unrest and where Bitcoin fits into all of this.

TIMESTAMPS

00:03:31: Introductions
00:04:39: Money is just an experiment
00:08:38: Definitions of money
00:13:06: History of money and gold
00:17:00: History of fiat money
00:19:36: Concerns with inflation
00:22:35: History of central banking
00:27:04: Problems with central banking
00:29:26: Global reserve currencies
00:32:35: 2007/08 Global financial crisis
00:37:07: Quantitative easing
00:39:56: Central banking in 2020
00:43:28: Global economy
00:47:43: Inflated stock market
00:53:07: Future monetary policy
00:55:44: Repo market crisis
00:59:04: How the world reacts to the US’ policies
01:10:23: Generational differences
01:16:50: Bitcoin appealing to younger generations
01:19:50: Why Bitcoin matters
01:24:25: Bitcoin in the future
01:28:47: Global discontent at the establishment
01:32:51: Bitcoin’s monetary policy
01:37:34: How the financial world could collapse
01:42:24: Why Bitcoin is a worthy hedge
01:46:35: Final comments

 

SUPPORT THE SHOW

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

If 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.

SPONSORS

 
 

SHOW NOTES

PodcastPeter McCormack