Bitcoin as the Ultimate Reserve Asset with Jeff Ross - WBD688

Jeff Ross is the Founder & CEO of Vailshire Capital
Management. In this interview, we discuss Jeff’s twin expertise
in finance and medicine, the impact of AI, and the importance of
personal responsibility. We also talk about the state of the
global economy, liquidity in the Bitcoin market, the benefits of
the state having Bitcoin as a reserve asset, and the changing
narrative around Bitcoin.


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One of the powerful libertarian ideas aligned with Bitcoin is
personal sovereignty: the rights of the individual including the
protection of property rights. Advocates of this belief espouse
it has a vital corollary where sovereign individuals also accept
personal responsibility, in showing agency to better themselves
and being accountable for their actions.


In modern society, there does seem to be an increasing problem of
people relinquishing themselves of such responsibility,
manifested in poor financial and health choices. Whilst it is
true that a significant number of citizens can find themselves
facing difficult life choices through no fault of their own,
there equally needs to be an acceptance that too many are willing
to throw caution to the wind and the states can’t be expected to
automatically pick up the pieces.


The problem for society today is that the state could quite
quickly become unable to provide the support citizens have until
now taken for granted. Governments are struggling to manage their
debt obligations with rampant inflation leading to rising
interest rates. At the same time, we are in the midst of a global
manufacturing crisis.


One strategy Jeff Ross thinks governments could apply is the
adoption of Bitcoin as a reserve asset. This could both
strengthen economies, whilst also creating an honest unit of
account. It is a rare option that provides a potential path to
growth, the reduction of debt and protects future generations.
But, such a transition is far from certain. Those unprepared
therefore face significant risks. If governments can’t be
responsible, then it’s the role of the individual to protect
themselves.


 


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