Broken Money Why Our Financial System Is Failing US And How We Can Make It Better 2 06 24
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- Опубліковано 13 лют 2024
- Lyn Alden, founder, Lyn Alden Investment Strategy
Tuesday, February 6, 2024, from 4:30-5:30 p.m. (EST)
Robertson Hall, Arthur Lewis Auditorium (Room 100)
Co-sponsored by The Griswold Center for Economic Policy Studies (GCEPS) and Princeton Center for the Decentralization of Power Through Blockchain Technology (DeCenter)
For some reason my comment was deleted. I am gonna say it again. I think the speaker is brilliant and they added significant value and depth to my knowledge and understanding of this matter. I appreciate it endlessly and hope to see more lectures from Lyn
YT likes to do that. Especially when it comes to Bitcoin related subjects.
happens to me all the time, really spooky, try sayin ur opinion below a political video near impossible once u start quoting or linking sources.
@@cwpv2477 The worse parts is the algorithm is adaptive. So the more times you make it mad, the more trigger happy it gets. I make perfectly innocuous messages that getting dropped all the time, simply because I have numbers in them. Like when I was explaining display density in post, and it wasn't having it. It also won't let me defend myself against certain users, no matter how sweet or gentle I am, I simply can't respond to particular users. They just get to make their statement, I can't rebut.
exact same here man feel u, I always am polite@@bujin5455
@@bujin5455 Israel, anti-gov, bitcoin all gets flagged.
Lyn Alden: excellent presentation as always.
Princeton: maybe you could bother to use some of that $35 billion endowment to invest in functioning microphones?
lmao
Absolutely right!
Here I thought it was the connection Due to me bieng Within The Netherlands.. 🇳🇱 . Born American- MO, studied with in The Netherlands-BA Buisness IT and Management. Speaking 4 languages, Now I'm jobless and Homeless... its sad haha😥 I really Thought the mic problem was a speaker problem.. -_- 😂
Don’t forget better cameras 🎥
The central banker lady didn't put her microphone close enough to her mouth and didn't speak into the mic consistently. It was not a problem with the quality or choice of microphone. Lyn's is closer to her mouth, which is why you can hear her consistently.
Lyn’s book should be required reading in schools across America.
Wake up people!!! If Princeton university promote BITCOIN I hope you understand what is the agenda!
Lyn is an economist, investment expert and engineer. No one better to explain bitcoin and the problems of fiat currency debasement!
He really is the best
@@BTCNSDAPI understand the misconception, but Lyn really is a biological woman…
She's good at explaining the problems of fiat currencies, but not good at all at explaining the problems of BTC, among which the extreme volatility, the transaction costs, and the insane energy consumption.
@@BTCNSDAPI think Len Alden is the smartest man in Bitcoin!
Is that a man or a woman ?😂
Lyn Alden is a treasure. Much respect to the work and brilliance she's devoted towards her career.
She is one of the best Econ speakers of our time.
I hope former Professor Krugman was in attendance. Could learn a thing or two.
Not a fan of Krugman at all, but Alden is a dummy.
Wake up people!!! If Princeton university promote BITCOIN I hope you understand what is the agenda!
@@KoDeMondo ? please explain
been watching lyn for a long time, never disappoints. Great analysis and explanation
As an engineer like Lyn, she sure can talk about a topic in terms of system thinking and in a way that everyone can understand.
Wake up people!!! If Princeton university promote BITCOIN I hope you understand what is the agenda!
ty lyn and congrats
Mic situation ruined it 😢
Here's the transcript, hope it helps:
money coming organically um there's
long of element we've about
especially we everything's we don't ourselves fundamental that
ask is how does matter controls it
to matter the of citizens it to their
rights to privacy you my is saying lot and fact parts
the that me uncomfortable because induces bit humility
terms the that take granted and not saying agree every of you said but
certainly think out compelling of issues serious
discussion we it politics so clearly
current well monetary flaws one has particular set flaws seems
your that decentralization blockchain you seem
particularly um address of is used
countries really no to in economies more
speculative question what think going or
anything being
used and seems be special even this ledgers
Miners program that worry people
about underestimated think dollars
Egypt an example kind timeline how can out we this number countries end dollariz
right first don't buy with dollars regular they just right example in
What was the mic issue?
Great lecture and excellent book by the way.
58:30 - edited out : The answer is: hoarding is irrelevant when the money is infinitely divisible. if only 1 bitcoin were free to circulate in the economy, that would be enough because it can be divided infinitely into smaller pieces for everyone to have some. The price/value of bitcoin would jsut increase. Even if the hoarded bitcoin never gets sold into the market, whatever supply is in the market expands to match demand.
A single bitcoin is divisible, just like dollars, and the smallest unit is called a satoshi. I do not think you can have 0.5 satoshi
@@CristalMediumBlue 100,000,000 sats are in 1 bitcoin currently, but a simple soft fork can create another million "sub satoshis" without any issue.
This sounds like a Ponzi Scheme to me.
@@martinross6416 those who don't do their own research, will suffer accordingly. Happy to answer any questions you have.
If you needed it you could get it through a soft fork@@CristalMediumBlue
Lin Alden spreading the word of enlightenment.
Loved Lyn's clear, concise analysis and the thoughtful questions. Lyn should speak at every university, educating with integrity. Make those degrees worth something!
Wake up people!!! If Princeton university promote BITCOIN I hope you understand what is the agenda!
I hope the students viewing this act on the knowledge Lyn bestowed upon them. It will change their lives.
Lyn is a national treasure.
*International.
Wake up people!!! If Princeton university promote BITCOIN I hope you understand what is the agenda!
here before 100k. keep stacking sats everyone! - NEED
Lyn is so efficient. Less than half an hour to condense the history, function and impacts of evolving monetary technology.
That the Princeton Center for the Decentralization of Power Through Blockchain Technology (DeCenter) exists at all shows that ther is real hope for humanity going forward
Bummer about the sound. Love listening to Lyn. She brings clarity and pragmatism.
Wake up people!!! If Princeton university promote BITCOIN I hope you understand what is the agenda!
Also check out International Movement For Monetary Reform and Alliance For Just Money.
Lyn for president 2024
YOU BECOME PRESIDENT IF YOU KNOW YOU CAN SCREW OTHER COUNTRY, INFULENCE TO GEGALLY STEAL IN THE DAYLIGHT , AND NOTHING ANYBODY CAN DO, ITS BENIFITING SOME ONE BUT NOT YOU, WHO SAYS IT HAS TO BENIFIT YOU IN WHERE YOU ARE , YOU SOUND GOOD BUT IS NOT DOABLE, IF YOU DID YOUR WAY THEN YOU CANT BE IN POWER , SURVIVE BEST YOU CAN ,
Wake up people!!! If Princeton university promote BITCOIN I hope you understand what is the agenda!
Lyn is so elegant and polite.
He certainly is
Agreed.
Wake up people!!! If Princeton university promote BITCOIN I hope you understand what is the agenda!
Thank you Lyn for the talk and princeton for organizing the talk and sharing to youtube!
Lyn is the 🐐🐐🐐
Excellence
Huge Lyn Alden fan. It gives me great joy to celebrate her continued success. I never miss the chance to hear her views. However, the straight answer to the question asked at (43:22) re: tax reporting is yes, a U.S. citizen is required to provide a social security number in addition to other qualifying personal information per 'KYC' ( Know Your Client) rules. All transactions are subject to taxation and reported to the I.R.S.
Lyn Alden is amazing¡¡¡
Princeton…Einstein …Lyn…hmmm I see the connection 👏🏽 Jersey stand up! Love Lyn.
The creation of the federal reserve bank is the elephant in the room.
Really? I think Lyn’s gender is the bigger elephant in the room
The key differences is autonomous separate institution from politic. Egypt or Argentina doesn't have that but advanced countries do.
@@BTCNSDAP Gaslight is the new religion to stave off thinking.
@@BTCNSDAPLen Alden being one of the same Ethnic group that owns the Federal Reserve Bank is another kettle of fish
Just leaving a comment to show love for Lyn and her work!
Lyn is awesome! #Bitcoin for the world
Lyn is by far one of the best person out there in the financial/economics world. Good heart and level headed words. Thanks for everything Lyn❤.
P.S- Princeton needs a better person to moderate questions and who are these people asking taxation and hacking questions? Do some research guys come on. Also get better mics
Fantastic. Thanks for sharing.
~50:00 - capital gains on bit coin value, being liquid, are quite possible (even though they stated that capital gains needed to be ‘realised’). Asset taxes are also possible, especially if the asset itself isn't portable (see UK, Abramovitch (Russian Oligarch), Chelsea football club and GarysEconomics)
He is very smart.
Uh, 58:42......
Why was the response censored?
the last questions were all asked at once and Lyn responded to that question @1:04:07
Because YT hates freedom, and they are extra draconian when it comes to BTC subjects.
Wake up people!!! If Princeton university promote BITCOIN I hope you understand what is the agenda!
I'm a bit confused. The moderator is Carolyn Wilkins, the former senior deputy governor of the Bank of Canada. About as much a central banker as they come.
Excellent presentation! Lyn is always on point.
Lyn is on it. Beautiful presentation. Bitcoin is a Power Law.
Market highs can sometimes be followed by corrections, but predicting the timing and extent of it is challenging. I've heard some analysts talk about a 'massive' correction. It makes me wonder if it's time to adjust my $2M portfolios or maybe even consider some defensive investments.
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you
NATALIE ANN BRINKMAN is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Broken money was a fantastic read. Im jelous of everyone who got to see her talk live.
Lyn is quite literally the GOAT 🐐
I wish they kept the central banker in front of, and facing the microphone. She kept cutting in and out depending on where she was faced.
Nice one Lyn!
Kudos for inviting Lyn
This is the best explanation regarding monetary system along with PlanB explanation for BTC scarcity character, bravo!
Wake up people!!! If Princeton university promote BITCOIN I hope you understand what is the agenda!
Great video!
49:06 No offense but how could this gentleman used to be the chief finance and not knowing anything about Carl Menger's Subjective Theory of Value 😮
Wake up people!!! If Princeton university promote BITCOIN I hope you understand what is the agenda!
Love how the boomers are trying to figure out there cap gains while Lyn schooling them with hard money 😂🤡
Lyn, my fav teacher on macro. Wish she was my finance professor back then. I would have taken a very different career route.
What happened to the response at the 58.30 mark?
I was thinking the same thing.
The most important question was cut? Bitcoin is a fraud!
That's an important question to be completely edited out without notice.
The answer is: hoarding is irrelevent when the money is infinitely divisible. if only 1 bitcoin were free to circulate in the economy, that would be enough because it can be divided infinitely into smaller pieces for everyone to have some. Even if the hoarded bitcoin never gets sold into the market
@@rationalevidence9095 That's clearly not correct, and uses circular reasoning of apples to oranges. As such clearly not rational.
To contradict you, divisibility of a fungible good known as money in no way changes the overall store of value, only the collective use of that money (in circulation) changes value to find equilibrium but may be skewed towards producers or consumers; depending on who is dominant; most of the time in concentrated oligopoly producers are dominant. Needless to say, a fraction of a whole is always a fraction of a whole, and divisibility does not change value.
Concentration cycles or sieving cycles are dynamic cycles that occur regularly in any monetary system that impact the price spent on goods. Pre-fiat currency this was more inefficient because some industries are seasonal requiring significant investment upfront which removes the currency from use naturally slowing growth, but preventing boom/bust cycles except in certain extraordinary circumstances (i.e. acts of god). Under fiat, the inflation creates boom bust cycles whenever risk management cannot account for the risks (frauds); which over a great length of time is it can never account for the risks (because people don't have futuresight, and bad actors can defraud the system).
BTC has an unknown quantity of leverage, from fiat money underpinning it, as do any systems that allow converting to or from dollars. This ability to easily exchange makes it simple to sieve without being able to print money in BTC, and through controlling the money in circulation the dominant player can effectively tax the value in a non measurable way for those holding the currency through non-visible or alerting boom/bust cycles of controlled holding/buyback flooding indirectly through financial instruments (i.e. accumulation, markup, distribution, markdown). Deflation like Inflation eventually forces producers to stop producing when the exchange no longer makes a profit.
Additionally, BTC's proof of work is inherently based on distributed blockchain technology. 51% attacks on that technology allow those parties to alter the blockchain itself.
To date no adequate solution for these dynamical problems has been examined rationally, and more than likely there isn't an adequate solution since value is subjective and cannot be measured as a unit, and concentration by a interested party is inevitable in dynamic systems, through subtle market manipulation, and economic calculation is required but becomes impossible under such systems over time (Mises).
The people who use and rely on currency as a store of value have goods and needs that must be met, usually living expenses they don't typically have the option of not using money. Eventually liquidity from individuals will be concentrated creating circumstances for illiquid breakdowns endangering the monetary system with no tools to resolve.
The people who use currency as a means towards rent-seeking behavior have no such needs or demands, and are more financially stable than individuals with more options so can take advantage of the swings at each end of a value swing, accumulating more which deflates or suppresses the associated assets. You see this quite often in the options, derivatives, and futures market related to silver and gold spot at the COMEX (where it looks like paper contracts in volumes exceed the amount of backed assets (registered) account for more than the registered amounts).
As such, this is an important question, and it currently doesn't have a rational solution. Price level is not value.
Q & A audio went south.
Timestamps?
Lyn the goat.
Their aim is to guide everyone into digital monetary confinement. Within this framework, they possess the ability to generate unlimited money and siphon it off through their choosing of "dilution" or "inflation". These tactics would work the same as a stock split, but applied to the digitized currency throughout the entire system-a deceptive strategy reliant on mathematical manipulation.
Regarding the question about an extreme situation where only one person hoarded all the Bitcoin. In this case all the others would be happy to have sold all their Bitcoin to him. Lyn is correct in saying that they would then simply choose another form of currency which will have a new network effect. Let the hoarder keep all the Bitcoin and let the others wonder for what purpose he keeps them. Let this be a warning to any would-be hoarder of Bitcoin. You want the playground all to yourself? Well then, you can play alone. In the early days, it was not uncommon for early adopters to give away their Bitcoins to increase the size of the network.
Celo token uses phones and people's phone numbers -- it has USD as stable coin. People in countries with inflation problems can use Celo to get USD and pay for things in USD.
read lyn s book twice already and will certainly read a 3rd time . she rocks !
It's mesmerizing to listen to Lyn. She's so clear and articulate and also a natural narrator, when she links explanations of concepts with stories from real examples - one gets captivated by the storytelling and rock solid logic
Yes he is
He is quite handsome
he
An economy that survives on borrowing and printing money to support private and public consumption cannot be sustainable.
Money requires trust. Without trust it does not work.
Awesome presentation
I turn off anything I’m listening to when I see Lynn pop up UA-cam
Lyn, thank you so much for giving such a wonderful talk at Princeton. You are the perfect ambassador for Bitcoin and for sound money generally.
What was wrong with the mic, interviewer needs to speak into mic lol.. xD Volume threshold was too low. BTC is a part of the future, surprises me some people can't see this yet. If you truly understand the "traditional" system you would be disgusted.
If you're using highly directional microphones, don't sit the participants next to each other, sit them opposite each other, so they're talking into the mic.
Audio is terrible
If I already read the book, is there anything new in this hour long video?
d... en.... pr..... bu..... gi.... li.... pr.....
Lyn 👌
🔥💯💪🏾
Brilliant lady.
This dude knows his stuff!
Every question had one common thing. Government is the problem. Let that sink in.
More like politicians are the problem. They are the ones making the rules after all.
Pretty dumb take… everybody who says this doesn’t hate government. They just want to have the government’s power… with no democratic accountability. See Tether.
You know better if I hate government or not, sure. Dumb comparison on your part. How Tether have same power as the government to spy or tax you or do whatever they want? Tether have none, you can walk away and move your business to somewhere else. Try the same with US government, good luck. US gove want to track all your transactions no matter which crypto or exchange you use. They force KYC on everybody. Also democratic accountability is a joke@@erikanderson1402
@@erikanderson1402 "everybody who says this doesn’t hate government. They just want to have the government’s power"
...have you ever heard of anarchism? Some people just want to live in peace.
@@MemoryDealer yea and most people don’t understand what anarchism actually is… considering anarchism requires abolishing capitalism
Central government will not allow crypto currency to be widely used in their country. Government needs to control the country and economy through local currency exchange rate, how's much to print etc.
Nah. You're wrong. China attempted to ban Bitcoin. They failed. One of the most authoritarian countries on the planet failed. You're way out of touch.
Humanity will be much better off if we all agree to separate money from state.
It just takes 1 person to screw up a great program! Hopefully they will read the comments & rapidly fix & set up an automated tracking & ALERT SYSTEM 🎉
Broken Microphones? Did you check them advance? I can tolerate it as the topic is so important.
Lynn understands how money works and how it should work better than these bankers.
With a fixed money supply how would anyone promote velocity when hoarding would be wise? (Assuming products and services don’t diminish)
Lyn is my hero.
He has a Secret Identity as well
Great talk and speaker, very informative
Why it is broken? Because it is too easy to print. As for today, the 10 year federal debt rate is 4.67%, 30 year 4.78%, ... It is easy to calculate how much interest payment will be after all the old debts being replaced by the new ones with those rates. The yearly interest only payment for the federal government with 34 trillions debts will be about 1.56 trillions/y. That is almost double the yearly military spending.
👌👌👌👌
Princeton desperately needs to up their mic game. (ps. Lyn is the goat - obv.)
They are directional mic's, you have to 'talk into' the mic. Lyn seems to have a better understanding of how it works - keep the mic close, talk toward it and not away from it.
@@gavincrouch Probably, but this is Princeton - not a community college in the middle of nowhere. They should be prepared!
@@juanbarberis7192 I'm not disagreeing, I was expanding upon the original post just stating the facts on what they have there. Yes, they need better equipment or at least a sound engineer to guide the speaker on proper use, apologies for not making it clearer.
What does goat mean ?😅
Greatest Of All Time @@cecilechau7932
Great book this smart lady wrote 👌👍
Lady? Why IT have this voice so manly?
this is a man not a woman
!!!!!!!!!!!!!!!!🥳
Read the book, it's amazing.
Study bitcoin
Why didnt anyone tell the interviewer to use the microphone properly? Hard to listen too.
The irony of boasting about technological advancements in a mic that doesn't work.
The questions were unbelievably bad by attendees. Shame that Lyn had to waste her time with them.
58:45 why was his question not answered
his question was answered - Lynn said that bitcoin is the simplest protocol so its hard for it to become obsolete as its going to be the more reliable and secure (more like a protocol). about money becoming obsolete to bitcoin she said that it is happening and it will start with the smaller less useful currencies but its likely that all currencies will degrade to BTC or other forms of money over time
What would happen if a government pass the law that the only money that have legal tender in their country is the money issued by their central bank? How that Nigerian lady, is going to buy grocery in Nigeria if Nigeria adopted such law.
She would use bitcoin to buy her country’s currency and then buy groceries.
@@Newlinjim She runs the risk of starving for a day or week or more before she can find that buyer for her bitcoins at mutually agreed price, quantity, availability etc. If u need to stop by a pitza store for 30 mn , the cashier says no to your bitcoin, what to do? U go looking for someone to buy the Naira from!!!
@@ougmass I agree,I’ve also seen a vid of someone using only bitcoin for their purchases. After finding establishments who would accept payment in bitcoin they found @ the end of the month their cost was 30% higher than cash. My reply to the ? Was more along the lines of exchanging enough bitcoin for cash to last the month costs.
Does bitcoin solve the "problem(s) of money/currency?" My own view is that too much can go wrong, though so far it has (mostly) stood the test of time, and it is still around. For most people, especially Americans, gold and equities, and in some cases bonds are probably a better approach for store of value, medium of exchange, and divisibility. Some people have become very wealthy when bit coin was pennies to a few hundred dollars, etc. Whether they were lucky or brilliant or both, I don't know.
All the logic points right back to the gold standard and constitutional currency.
Nice lady, please talk into the mic next time. Thanks.
-the Internet
Government tax the air we breath via carbon tax
Why is BTC so hard to understand in a taxable sense
must watch 🎉
the interviewer's microphone is on a slow internet connection :D