“Money facilities a system — the economy — that is too complex, too unpredictable and too uncertain to be modeled or reduced to neat quantifiable units. Expanding humanity’s productive resources — capital — requires the acceptance of complexity, uncertainty, unknowns and risk. It’s not a neat or tame process. It’s a wild one. It’s a gang of risk takers spelunking the caverns of the unknown with nothing except their intuitions about future preferences and knowledge of current problems to guide their descent into the uncertainty and the unknowable.” – Steven Lubka

Today we hit another amazing piece, diving into the first half with the second to come tomorrow, of Steven Lubka’s fantastic breakdown of the process of capital and the economy, and how prices and money are the guiding force, made parasitic and destructive through the control of prices and the act of money creation. An essay absolutely packed with knowledge, you don’t want to miss hearing how Bitcoin fixes this…

Check out the original at the link below, as well as the last piece Steven wrote we covered on this show:

https://www.swanbitcoin.com/capital-misallocation-bitcoin-fixes-this/
Read_643 – Bitcoin & The True Meaning of Inflation: https://open.spotify.com/episode/2JKjejgGp66xtEPqsGPzW4?si=KFVs1SJrQUiHE2BO7-lsUg
Check out our amazing sponsors and the products that Guy uses most in the space:

• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! (guyswann.com/coldcard)

• Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 20% off with code BITCOINAUDIBLE (https://www.pacificbitcoin.com/)

• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy)

• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 5,000 FREE SATS at (guyswann.com/fold)

• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! (guyswann.com/coldcard)

“The quantity of money available in the whole economy is always sufficient to secure for everybody all that money does and can do.” – Ludwig von Mises, Human Action

Learn more about your ad choices. Visit megaphone.fm/adchoices