Bitcoin is the Answer with Preston Pysh - WBD581

Preston Pysh is a co-founder of The Investor Podcast Network. In
this interview, we discuss the ongoing trauma following FTX’s
unprecedented fall from grace, the implications for Bitcoin, and
the ever-worsening macro situation where central banks are losing
the battle to protect society from excessive government spending.


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The FTX drama is still being played out, and it will continue to
do so for the weeks, months and years ahead. It feels as though
we’re still in the shock stage, trying to wrap our heads around
not only what happened, but how such a seemingly fragile
situation was allowed to get so out of control. Fingers are being
pointed, defences prepared, and, even whilst we’re still very
early in this process, histories are already being rewritten.


And yet, the broader economic picture remains the same: a
conveyer belt of crises continue to buffet the global economy.
Stagnation, growing inflation, mountainous debt, extreme stress
in the bond markets, globalisation, and currencies under strain;
there is a wall of mounting issues that are building into what
seems to be an existential situation for the fiat system.


The fundamental issue at hand is that nobody can tell what is up
or down in relation to our economy. Price and value have been
artificially inflated that they lack any purposeful meaning.
Cheap money has enabled massive consolidation making the business
environment top-heavy. And inflation has directed citizens to
engage in rampant consumption, which results in a myriad of
adverse downstream consequences.


Both situations, i.e. the imploding of cryptocurrency and the
mess of the global economy, have the same mitigation.
Reaffirmation of the Bitcoin ideology will enable those with true
convictions to begin repairing the damage caused by FTX. Bitcoin
will also help the economies to align with reality, thereby
facilitating better decisions. Whilst Bitcoin doesn’t necessarily
fix everything, it is the path to creating a better world.