"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

    60 ratings


    More shows like "Upstream" with Erik Torenberg

    View all
    a16z Podcast by Andreessen Horowitz

    a16z Podcast

    1,080 Listeners

    Conversations with Tyler by Mercatus Center at George Mason University

    Conversations with Tyler

    2,425 Listeners

    The Knowledge Project by Shane Parrish

    The Knowledge Project

    2,680 Listeners

    Founders by David Senra

    Founders

    2,035 Listeners

    Hidden Forces by Demetri Kofinas

    Hidden Forces

    1,439 Listeners

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

    All-In with Chamath, Jason, Sacks & Friedberg

    9,633 Listeners

    Dwarkesh Podcast by Dwarkesh Patel

    Dwarkesh Podcast

    453 Listeners

    Honestly with Bari Weiss by The Free Press

    Honestly with Bari Weiss

    8,774 Listeners

    Joe Lonsdale: American Optimist by Joe Lonsdale

    Joe Lonsdale: American Optimist

    163 Listeners

    Forward Guidance by Blockworks

    Forward Guidance

    271 Listeners

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

    "Moment of Zen"

    91 Listeners

    Tetragrammaton with Rick Rubin by Rick Rubin

    Tetragrammaton with Rick Rubin

    1,047 Listeners

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

    "Econ 102" with Noah Smith and Erik Torenberg

    141 Listeners

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

    "Live Players" with Samo Burja and Erik Torenberg

    40 Listeners

    BG2Pod with Brad Gerstner and Bill Gurley by BG2Pod

    BG2Pod with Brad Gerstner and Bill Gurley

    482 Listeners