My friend and fellow student of money codenamed "Lester" joins me for a multi-episode conversation exploring the excellent book "The Twilight of Gold" by Melchior Palyi.Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/GUESTLester's Twitter: https://twitter.com/ProgrammableTxBOOKThe Twilight of Gold: https://archive.org/details/twilightofgold190000paly/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 Peel’s Act: The Original Bitcoin, With a Few Exceptions…00:04:33 Satoshi’s Creation has Been Sought by Humanity for Centuries00:08:00 21M Bitcoin: Finally, Something Humanity Can Agree Upon00:09:25 Running a Full Node is Equivalent to Convertibility on the Gold Standard00:10:48 How Network Effects Propelled the Gold Standard00:14:53 International Trade Required Gold Deposits Within Each Country00:15:33 Bitcoin as the Ultimate Ulysses Contract00:18:17 A Bitcoin Full Node is Subversive to Commercial Banking00:20:20 “There’s One Economy in the World, and It’s the World Economy”00:22:07 The Three Flavors of the Gold Standard00:26:15 NYDIG00:27:23 The Balance of Trade and the Directionality of Gold Flows00:38:31 An Example of an Exporter Banking on a Gold Standard00:42:11 How Interest Rates Were Used to Manipulate Gold Flows00:45:56 The Beauty of an Idealized Gold Standard…00:49:54 The Titanic Trade Imbalance Accumulated Since 197100:51:37 An Unwitting Twisting of Incentives Across History…SOCIALBreedlove 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-2022-26217Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/Buy Bitcoin in a Tax-Advantaged Account: https://www.daim.io/robert-breedlove/Buy Your Dream Home without Selling Your Bitcoin with Ledn: https://ledn.io/en/?utm_source=breedlove&utm_medium=email+&utm_campaign=substack