Episode Details

This is a part 1 of 2 episode series. 

I didn't know what Austrian Economics was when I first bought Bitcoin. I barely understood economics at all. But after 12 years of going deeper because of Bitcoin I'm starting to get it. And once you do, you can't unsee it.

There are two competing schools of economic thought. One gets taught in every university in the world. The other predicted every major financial crisis of the last century and barely makes it onto the syllabus. This episode is about the second one.

In this episode:

• What Austrian Economics actually is, where it came from, and why the school that predicted 2008, the dot-com crash and the COVID inflation spiral gets almost no airtime in mainstream economics education
• Subjective value explained simply why no government, central bank or committee has the information needed to set prices correctly, and what happens every time they try
• Hard money versus soft money the mechanism that has quietly transferred wealth from wage earners to asset holders for the last 50 years, and why the pound in your pocket has lost 94% of its value in one working lifetime

This is Part 1 of 2. Part 2 connects everything here directly to Bitcoin including a 1984 Friedrich Hayek quote that sounds like he was describing Bitcoin 25 years before it existed.

I built a free calculator that shows exactly what consistent monthly Bitcoin investing could do to your wealth over 5, 10 or 20 years. It's called the Steady Stack Calculator — punch in what you can afford to put in each month and see what the numbers actually look like at the other end. Most people are genuinely surprised. You can also download the 10 Bitcoin Mistakes to Avoid document completely free at the same link.

Steady Stack Calculator and 10 Bitcoin Mistakes Document — click here to grab both for free

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