171 - What Causes Bubbles? with Edward Chancellor - "The Price of Time"
Edward Chancellor is a financial historian, journalist, and author of, "Devil Take the Hindmost: A History of Financial Speculation" and his latest, “The Price of Time: The Real Story of Interest” The two books link together the history of money and finance, and human culture. In today’s episode we explore the ways in which money and finance is embedded deeper in our lives than we may have previously thought. ------ ✨ DEBRIEF | Unpacking the episode: https://www.bankless.com/debrief-edward-chancellor ------ ✨ COLLECTIBLES | Collect this episode: https://collectibles.bankless.com/mint ------ 🪂Airdrop Alpha is waiting for you on Bankless 🪂 https://bankless.cc/AirdropAlphaIsOnBankless ------ We’re living in the era of Central Banker Capitalism, low interest rates and everything bubbles. Is this a new era? What does history tell us will happen next? Edward Chancellor is going to help us answer these questions. And along the way, you’ll learn timeless lessons about interest, debt, and the time value of money. ------ BANKLESS SPONSOR TOOLS: 📣 SWELL | Stake with Swell https://bankless.cc/Swell ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum 🧠 AMBIRE | SMART CONTRACT WALLET https://bankless.cc/Ambire 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2 🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap 🦊METAMASK LEARN | HELPFUL WEB3 RESOURCE https://bankless.cc/MetaMask ------ TIMESTAMPS: 0:00 Intro 8:24 Edward’s Book Overlap 19:32 Speculative Bubble’s Inevitability 26:27 Interest, Debt, & Loans 31:15 Debt Jubilee & Inflation 35:05 The Necessity of Inflation 41:55 The Natural Rate of Interest 53:35 The Everything Bubble 1:04:10 The Price of Time 1:07:38 Devil’s Take the Hindmost 1:10:40 Have We Learned From Past Bubbles? 1:17:30 Austrian vs. Keynesian Economics 1:21:20 Edward’s Thoughts on Crypto 1:38:50 Predictions: What Happens Next? 1:42:27 Closing & Disclaimers ------ RESOURCES: The Price of Time https://www.amazon.com/Price-Time-Real-Story-Interest/dp/0802160069 Devil Take the Hinemost https://www.amazon.com/Devil-Take-Hindmost-Financial-Speculation/dp/0452281806 Primitive Money https://www.elsevier.com/books/primitive-money/einzig/978-0-08-011679-2 Digital Chicago Plan - Column In Breakingviews https://www.breakingviews.com/columns/digital-chicago-plan-fixes-many-financial-woes/ Irving Fisher 100% money https://mises.org/library/100-money ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures