"Upstream" with Erik Torenberg

E135: The Problem With Reserve Currencies and Switching to Crypto w/ Lyn Alden [From the Archives]


Listen Later

This week on Upstream, we’re sharing Erik Torenberg’s 2024 interview with Lyn Alden. Lyn discusses her book 'Broken Money', the impact of the global reserve currency, inflation, interest rates, and provides advice for navigating an uncertain economic future.



📰 Be notified early when Turpentine's drops new publication: https://www.turpentine.co/exclusiveaccess


SPONSORS:

☁️ Oracle Cloud Infrastructure (OCI) is a single platform for your infrastructure, database, application development, and AI needs. OCI has four to eight times the bandwidth of other clouds and offers one consistent price. Oracle is offering to cut your cloud bill in half. See if your company qualifies at https://oracle.com/turpentine


🕵️‍♂️ Take your personal data back with Incogni! Use code UPSTREAM at the link below and get 60% off an annual plan: https://incogni.com/upstream


💥 Head to Squad to access global engineering without the headache and at a fraction of the cost: head to https://choosesquad.com/  and mention “Turpentine” to skip the waitlist.


LINKS:

Broken Money: https://www.amazon.com/Broken-Money-Financial-System-Failing/dp/B0CG8985FR 

Lyn’s website: https://www.lynalden.com/


X / TWITTER:

@LynAldenContact

@eriktorenberg

@turpentinemedia


HIGHLIGHTS FROM THE EPISODE:

  • Lyn explains her book "Broken Money" provides a comprehensive global view of the 160 different currencies and monetary systems worldwide.
  • She argues all monetary systems are essentially "ledger money" rather than just commodity or credit money.
  • Lyn emphasizes how technology permanently shapes monetary systems, a perspective underexplored in academia.
  • The telegraph was a crucial turning point, allowing information to move at the speed of light and shifting power toward centralized banks.
  • Bitcoin and cryptocurrencies enable peer-to-peer value transfer without centralized institutions.
  • Crypto continues to challenge currency monopolies by letting people circumvent capital controls and save in alternatives to local currencies.
  • The US dollar's reserve status creates structural trade deficits and contributes to deindustrialization.
  • Reshoring manufacturing remains difficult while maintaining reserve currency status.
  • Raising interest rates to combat inflation has become less effective as higher rates increase government interest expenses.
  • With high debt-to-GDP ratios, fiscal deficits drive money supply growth more than bank lending.
  • Future inflation depends on technological growth rates relative to money supply growth.
  • Lyn advises owning real, scarce assets rather than treasury bonds.
  • She warns that fighting technological disruption ultimately proves ineffective for governments.
  • ...more
    View all episodesView all episodes
    Download on the App Store

    "Upstream" with Erik TorenbergBy Erik Torenberg

    • 4.2
    • 4.2
    • 4.2
    • 4.2
    • 4.2

    4.2

    59 ratings


    More shows like "Upstream" with Erik Torenberg

    View all
    a16z Podcast by Andreessen Horowitz

    a16z Podcast

    995 Listeners

    Conversations with Tyler by Mercatus Center at George Mason University

    Conversations with Tyler

    2,382 Listeners

    ManifoldOne by Steve Hsu

    ManifoldOne

    87 Listeners

    All-In with Chamath, Jason, Sacks & Friedberg by All-In Podcast, LLC

    All-In with Chamath, Jason, Sacks & Friedberg

    8,648 Listeners

    Dwarkesh Podcast by Dwarkesh Patel

    Dwarkesh Podcast

    324 Listeners

    Joe Lonsdale: American Optimist by Joe Lonsdale

    Joe Lonsdale: American Optimist

    139 Listeners

    The Logan Bartlett Show by by Redpoint Ventures

    The Logan Bartlett Show

    192 Listeners

    "Moment of Zen" by Erik Torenberg, Dan Romero, Antonio Garcia Martinez

    "Moment of Zen"

    90 Listeners

    No Priors: Artificial Intelligence | Technology | Startups by Conviction

    No Priors: Artificial Intelligence | Technology | Startups

    103 Listeners

    "The Cognitive Revolution" | AI Builders, Researchers, and Live Player Analysis by Erik Torenberg, Nathan Labenz

    "The Cognitive Revolution" | AI Builders, Researchers, and Live Player Analysis

    86 Listeners

    Pirate Wires by Pirate Wires

    Pirate Wires

    115 Listeners

    "Media Empires" | The Business of Newsletters, Podcasts, Creators, and Data Acquisition by Turpentine

    "Media Empires" | The Business of Newsletters, Podcasts, Creators, and Data Acquisition

    11 Listeners

    "In The Arena" by Turpentine

    "In The Arena"

    16 Listeners

    "The Hill & Valley" by Jacob Helberg, Delian Asparouhov, Christian Garrett

    "The Hill & Valley"

    11 Listeners

    "Econ 102" with Noah Smith and Erik Torenberg by Turpentine

    "Econ 102" with Noah Smith and Erik Torenberg

    138 Listeners

    "Turpentine VC" | Venture Capital and Investing by Erik Torenberg

    "Turpentine VC" | Venture Capital and Investing

    20 Listeners

    "Tech Finance" with Sasha Orloff: B2B Fintech | AI | Finance Tech by Puzzle, Turpentine

    "Tech Finance" with Sasha Orloff: B2B Fintech | AI | Finance Tech

    43 Listeners

    "1 to 1000" | Scaling Startups with CEOs by Turpentine

    "1 to 1000" | Scaling Startups with CEOs

    2 Listeners

    "The Riff" with Byrne Hobart and Erik Torenberg by Byrne Hobart, Erik Torenberg

    "The Riff" with Byrne Hobart and Erik Torenberg

    21 Listeners

    "Live Players" with Samo Burja and Erik Torenberg by Turpentine

    "Live Players" with Samo Burja and Erik Torenberg

    39 Listeners

    “HR Heretics” | How CPOs, CHROs, Founders, and Boards Build High Performing Companies by HR Heretics

    “HR Heretics” | How CPOs, CHROs, Founders, and Boards Build High Performing Companies

    46 Listeners

    BG2Pod with Brad Gerstner and Bill Gurley by BG2Pod

    BG2Pod with Brad Gerstner and Bill Gurley

    433 Listeners

    "Request for Startups" with Erik Torenberg by OK I'm Building It.

    "Request for Startups" with Erik Torenberg

    4 Listeners

    History 102 with WhatifAltHist's Rudyard Lynch and Austin Padgett by Turpentine

    History 102 with WhatifAltHist's Rudyard Lynch and Austin Padgett

    99 Listeners

    Emergent Behavior by Turpentine

    Emergent Behavior

    7 Listeners

    "WhatifAlthist" | World History, Philosophy, Culture by Rudyard Lynch

    "WhatifAlthist" | World History, Philosophy, Culture

    57 Listeners

    "Autopilot" with Will Summerlin by Will Summerlin | Turpentine

    "Autopilot" with Will Summerlin

    4 Listeners

    "NBA Talk" by Erik Torenberg, Reuben Torenberg, Frak

    "NBA Talk"

    4 Listeners

    Training Data by Sequoia Capital

    Training Data

    31 Listeners

    Complex Systems with Patrick McKenzie (patio11) by Patrick McKenzie

    Complex Systems with Patrick McKenzie (patio11)

    101 Listeners

    "Second Opinion" with Christina Farr, Ash Zenooz MD & Luba Greenwood JD by Christina Farr, Luba Greenwood, Ash Zenooz

    "Second Opinion" with Christina Farr, Ash Zenooz MD & Luba Greenwood JD

    15 Listeners

    "This Won't Last" with Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg by Turpentine, Keith Rabois, Logan Bartlett, Zach Weinberg, Kevin Ryan

    "This Won't Last" with Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg

    14 Listeners