Whenever I listen to Jeff Booth, I immediately get emotional recalling the deep intellect of my own father, Jamil, who I miss dearly.
There are two reasons for that:
Reason number one, my father believed in, wrote and spoke, the same Austrian, Libertarian, free market, and sound money points of view as Jeff Booth. The only exception is that my father passed away decades before Bitcoin became came to life.
Reason number two, Jeff’s soft voice and calm demeanor are almost identical to those of my father, a most gentle and generous man, a man born before his time.
“In a true free market with sound money, prices naturally fall over time. This increases human purchasing power relative to their time. Imagine a world where your efforts today grant you more tomorrow, not less.”
On Technology and Deflation
“The natural state of the free market is deflation."
"In a free market, prices fall to the marginal cost of production."
"Technology is a deflationary force so great that, in the end, nothing we do will stop it.”
“Technology should be driving everything cheaper, [but] rent, housing prices, fuel, food, and many other costs are rising… driven by an enormous rise in credit and debt.”
“Instead of technology allowing for a fifteen-hour work week... vast numbers of people are working longer, in jobs they rightly fear will soon be gone.”
On Leadership and Growth
“The best leaders are constantly learning, curious about where they made mistakes and actively looking for areas where they might have it wrong.”
“True ignorance is not the absence of knowledge, it's the refusal to acquire it.”
On Money, Debt, and Economics
“Abundance in money equals scarcity everywhere else. That scarcity and the mistruths about where it originates (the manipulation of money) leads to conflict.”
“The rise of fiat currencies that could be manipulated domestically and the bailout in 2008 changed that strategy to one where the players whose bad bets caused the crisis, instead of being wiped out, were rewarded handsomely.”
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