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On this episode of Bitcoin Journal’s “Fed Watch” podcast, we, your hosts Christian Keroles and Ansel Lindner, had the privilege of sitting down with Aaron Segal of Bitcoin Journal and Jeff Sales space, creator of “The Worth Of Tomorrow,” to debate among the pitfalls of the present dominant narratives in bitcoin and sound cash.
Segal is considerably new to the bitcoin area however has already made a splash with two nice essays for Bitcoin Journal. The primary is “Bitcoin Info Concept: B.I.T.,” and the second and the primary topic of this podcast is named “Pondering Too Small And The Pitfalls Of The Inflation Narrative.” In each of those essays, Segal provides a recent tackle the bitcoin area from an insightful, new entrant perspective.
On this episode, we tried to flesh out the deflationist perspective, or at the very least why the inflationist perspective isn’t a given. Segal and Sales space started by saying it is very important peel again the onion and never relaxation on surface-level financial memes, like “cash printer go brrr.” Segal doesn’t wish to get caught up on labels, as a substitute concentrating on the underlying mechanisms of technological deflation assembly financial inflation.
We pushed again barely, asking, “Isn’t it necessary to be proper for the proper motive?” Many Bitcoiners are closely invested within the area, and if they’ve been proper for the incorrect motive (inflation), labels change into necessary to understanding why. What adopted was a really broad, wide-ranging dialogue on the matters concerned.
Within the second half of the podcast, we dove into some specifics about Federal Reserve coverage, like quantitative easing (QE) and reverse repo (RRP). We answered questions like, “Can the Fed taper QE?,” “Is RRP like a taper?,” and “Is the Fed in control of something, anyway?” The simplistic, Seventies-style inflation narrative can not clarify the nuance of what we see from the Fed and the worldwide economic system at present. The Fed is trapped by the inertia of the reigning financial paradigm, the one reply it has is to extend reserves by way of QE, however in doing so, tie the deflationary anchor of debt to the ankle of the economic system.
It was an important dialog and obligatory listening for next-level bitcoin understanding.