Jimmy Song joins me for a multi-episode conversation covering the masterful anti-state treatise “Democracy: The God that Failed” written by Hans-Hermann Hoppe.Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/GUESTJimmy's twitter: https://twitter.com/jimmysongJimmy's podcast: https://podcasts.apple.com/us/podcast/bitcoin-fixes-this/id1523910866Jimmy's writing: https://jimmysong.substack.com/PODCASTPodcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1RSS Feed: https://feeds.simplecast.com/MLdpYXYITranscript:OUTLINE00:00:00 “What is Money?” Intro00:00:08 Empiricism vs. Rationalism00:07:11 Isolation of Variables is a Prerequisite to Empiricism00:09:12 Keynesian Economics is Empiricism; Austrian Economics is Rationalism00:13:23 The Relationship Between Civilization and Time Preference00:19:32 The Moral Component of Time Preference00:21:40 Time Preference as a Relationship Abstract Others00:25:02 The Metaphysics of Savings and Being Saved00:29:47 Natural Interest Rate: The Quantification of Time Preference00:33:27 Time Preference as the Source Waters of Virtue00:35:52 The Thomastic Conception of Usury00:40:59 NYDIG00:42:06 Capital is Frozen Time00:47:27 Civilization as Multi-Layered Capital Accumulation00:50:10 Capital Accumulation Catalyzes a Self-Reinforcing Cycle of Civilization00:50:59 External Factors Influencing Time Preference00:56:56 Biological Factors Influencing Time Preference01:03:41 Savings Even Lowers Time Preferences of Non-Savers!01:08:22 Keynesianism Destroys Accountability and Savings01:10:46 State Interference in Free Markets is Decivilizing01:15:31 The Costs of Securing Property is Inverse to Civilization01:18:21 State Action is an Unmitigable Risk to EntrepreneurshipSOCIALBreedlove Twitter: https://twitter.com/Breedlove22WiM? Twitter: https://twitter.com/WhatisMoneyShowLinkedIn: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/TikTok: https://www.tiktok.com/@breedlove22?lang=enAll My Current Work: https://linktr.ee/breedlove22​WRITTEN WORKMedium: https://breedlove22.medium.com/Substack: https://breedlove22.substack.com/WAYS TO CONTRIBUTEBitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Sats via Strike: https://strike.me/breedlove22Sats via Tippin.me: https://tippin.me/@Breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedloveDollars via Venmo: https://venmo.com/code?user_id=1784359925317632528The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=trueRECOMMENDED BUSINESSESWorldclass Bitcoin Financial Services: https://nydig.com/Join Me At Bitcoin 2022 (10% off if paying with fiat, or discount code BREEDLOVE for Bitcoin): https://www.tixr.com/groups/bitcoinconference/events/bitcoin-2022-26217Put your Bitcoin to work. Earn up to 6% interest back on Bitcoin with Tantra: https://bit.ly/3CFcOmgAutomatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/Buy Bitcoin in a Tax-Advantaged Account: https://www.daim.io/robert-breedlove/Home Delivered Organic Grass-Fed Beef (Spend $159+ for 4 lbs. free): https://truorganicbeef.com/discount/BREEDLOVE22