SHOW NOTES:
https://www.whatbitcoindid.com/podcast/bitcoin-the-critical-money-layer
Nik Bhatia is Author of Layered Money and founder of TheBitcoinLayer.com. In this interview, we discuss Jeff Snider’s Eurodollar ideas: how all money is credit money; why Bitcoin will be a check, but will not replace, fractional reserve banking; and how Bitcoin will complement the dollar as a generational store of value.
Gemini – https://www.gemini.com/
Wasabi- https://www.wasabiwallet.io/
Ledn – https://www.ledn.io/
Pacific Bitcoin – http://pacificbitcoin.la/
Ledger – https://www.ledger.com/
Texas Blockchain Summit – https://www.texasblockchainsummit.org/
BCB Group – https://hubs.ly/Q011cb730
00:00:00 The Bitcoin Layer
00:04:47 The Eurodollar system
00:13:10 Eurodollar reserves and the Triffin dilemma
00:22:31 All money is credit money
00:34:10 Bretton Woods & the gold standard
00:39:34 A desire to return to sound money
00:49:25 Government-driven crisis; moral hazard
01:05:54 Interbank protections since 2008
01:10:47 The Fed’s role; MMT & central planning
01:20:34 Fractional reserve banking & Bitcoin as a check
01:30:29 Bitcoin scarcity vs fiat elasticity; Bitcoin as 1s money layer
01:40:26 Credit systems based on Bitcoin
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“All of that monetary profligacy over the last 10 years put the Fed’s reputation on watch; everybody and their mother knows about the Fed and its willingness to just do QE infinity, and so in a post-pandemic world where they got caught, basically, without a plan, now they have to preserve their reputation.”
— Nik Bhatia
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