Bitcoin Fixes Capitalism | Allen Farrington x Peter McCormack

Allen Farrington is a writer and investor. He co-wrote Bitcoin is Venice and he’s a co-founder of Axiom, a Bitcoin-focused venture firm.

In this episode, we discuss the distortions caused by fiat money, the consequences of misallocated capital, and the philosophical underpinnings of a Bitcoin standard. We get into how these issues impact both individuals and economies, dissect the flaws of modern capitalism, and discuss how Bitcoin offers a path toward financial sovereignty and a more equitable economic future, as Allen provides a compelling case for why the current system is unsustainable and what can be done to change it.

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TIMESTAMPS:
00:00:00 - Introduction
00:00:50 - Housing Bubble
00:03:33 - What is Fiat Money?
00:07:40 - Explaining Bitcoin
00:12:01 - Yuppie Elite and Finance
00:20:00 - Thatcher-Era Policies
00:25:00 - Why You Can’t Save with Fiat Money
00:30:04 - Historical Context of Inflation
00:36:31 - Capitalism vs. Fiat
00:40:00 - Managed Decline of Society
00:47:20 - Unwinding the Credit Bubble
00:57:26 - How Central Banks Operate
01:14:10 - Capitalism Under the Gold Standard
01:23:17 - Bitcoin’s Impact on Credit Creation
01:37:00 - Personal Responsibility in Bitcoin
01:40:55 - Money for Grownups

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