Are Central Banks Losing Control? With Lyn Alden & Natalie Smolenski - WBD725

Lyn Alden is a macroeconomist and investment strategist, and
Natalie Smolenski founded and leads the Texas Bitcoin Foundation.
In this interview, we discuss the impact of digital currencies on
government control, the breakdown of the US system of checks and
balances, and the increasing influence of central governments. We
also talk about the complexity of the monetary system, the
current state of the financial system, and the future of Bitcoin.


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Lyn Alden and Natalue Smolenski are both acclaimed as peer
leaders within their respective fields. I feel this is because
they can provide engaging clarity to complex issues. However, I
also feel that it is their ability to be authoritative, honest
and calm, within an industry full of noise, miss truths and
hidden agendas, that has led to them developing loyal followings.
It was an honour to have these two heavyweights of the community
coming together on the show.


Our conversation began with a discussion on the concept called
the "narrow corridor of liberty," which Natalie explained as a
theory describing the balance between the state and society in
terms of technological advancements, and the race for liberty to
stay ahead of tyranny. We then talked about how this applies to
the race between Bitcoin and Central Bank Digital Currencies
(CBDCs).


The conversation took a turn towards the challenges of explaining
the upcoming financial challenges to friends and family, in the
context of the need to rethink governance in a digital world to
prevent excessive government control. The system of checks and
balances in the United States has broken down, with laws now
being made through federal agencies instead of Congress. These
agencies are often not accountable to the American people.


Lyn talked about the correlation between the breakdown of the
financial system and Increased government control. She emphasized
the complexity and opacity of the money system, which fuels
political polarization and distracts people from focusing on the
real issues. Those in power may want to divert attention from the
money system, whilst corporate interests have an undue influence
on government decisions.


The need for reforms is readily apparent e.g. lobbyists'
influence, Congress members trading stocks and the lack of term
limits. But, the fundamental issue is the risks resulting from a
concentration of power. Decentralisation is a bedrock of
Bitcoin’s development, so there is real excitement that those
pushing for change finally have a powerful tool with which to
enact real and meaningful change. That is why Bitcoin has people
of the calibre of Lyn and Natalie.


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Show notes:
https://www.whatbitcoindid.com/podcast/are-central-banks-losing-control


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