“We need to live in a deflationary world. Therefore, we need a currency which matches that world. So we’re trying to push an inflationary currency story (based on Keynes’s wrong premises), against a deflationary world that needs more efficiency, not more growth.”— Lawrence LepardLawrence Lepard is an Investment Manager and Austrian Economist. In this interview, we discuss gold and Bitcoin, comparing their relative benefits as assets over short and long time scales. We also discuss inflation, the potential threats to Bitcoin, inequality in society, and the challenges of finding credible leaders in politics. - - - - As the world grapples with an uncertain financial future, it's becoming increasingly important to diversify your investment portfolio. The two obvious assets designed to weather the coming economic storms are Bitcoin and gold. Whilst the relationship between gold bugs and Bitcoiners has been adversarial over the years, the two assets are two sides of the same coin.There are important differences between the two: Bitcoin is digital gold, which enables it to be used in ways beyond the capacity of gold; but gold has a 5,000-year head start on Bitcoin, and can therefore provide less volatility in the short to medium term. But, the primary demand for both as a store of value is predicated on the same thesis of limited supply. They both, therefore, serve as a hedge against inflation.In essence, the investors in both assets are well aligned in terms of their concerns about the global economic system. Goldbugs and Bitcoiners understand the value in sound money, and the risks posed by the current fiat system. Rather than being suspicious of each other, there is much to be said about orange-pilling gold bugs, and similarly, Bitcoiners being open to investing in gold.  The big picture is that both gold and Bitcoin present a risk to the current economic system. It is likely that they will both be subject to attacks and controls by those seeking to reinforce the current system, as the cracks and fissures widen. Any meaningful divisions can and will be exploited: divide and conquer is a military tactic as old as politics and war. We, therefore, need alliances. Lawrence Lepard is one of those seeking to build a bridge between the two groups. - - - - This episode’s sponsors:Iris Energy - Bitcoin Mining. Done Sustainably Ledn - Financial services for Bitcoin hodlersBitcasino - The Future of Gaming is hereLedger - State of the art Bitcoin hardware walletWasabi Wallet - Privacy by defaultUnchained - Secure your bitcoin with confidence-----WBD654 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.