₿🛠️ Satoshi's 21 #006: Money Printing 💸

It's almost a cliché that we think Bitcoin is great because central banks print too much money, but what does that really mean? Is it true, is it really that bad, and how does this process actually work?

Stefanie von Jan will walk us through this process much more in-depth than the usual "Stammtisch" level, and give insights if and how Bitcoin can help protect the individual's self-sovereignty.

Stefanie holds lectures and seminars about monetary and economics related topics at German universities and is an advocate for Austrian Economics and safe, beneficial technologies.

• https://twitter.com/stefanievjan

Title of the talk: On the crossroads between serfdom and freedom - how the monopoly of money creation out of thin air in the fiat system comes with financial enslavement

Abstract:

In the beginning, we briefly discuss whether we are going into a (Hyper-)inflation, Deflation or Stagflation. In the main part, we discuss the underlying reason for (Hyper-)inflation, namely the extension of the money supply and its mechanisms.

It is much easier to understand this concept by first going back in time to the gold standard and seeing how banking worked in a non-fraudulent and a fraudulent gold standard system. The fraudulent banking system has become the norm and eventually the backing of money by gold was completely discarded as it has become clear that more money was created than it was backed with gold.

Now the creation of new money by banks and central banks escalated which is performed during two processes namely 1) by credit issuance and 2) by purchasing assets (as in Quantitative Easing). This is done through an „accounting trick“ which is illustrated in the talk.

When comparing Bitcoin with the current fiat system, it becomes clear that a monetary system may serve as a means of control or as a means to achieve freedom. Bitcoin is an antithesis to the fiat system and enables financial sovereignty to preserve individual freedom.

Finally, we discuss how to best prepare for the upcoming chaos when the unsustainable fiat system falls.

Material: See comment section below

Format: Lecture / Discussion / Socratic Seminar

Language: English

Target Audience: Background in or strong curiosity for economics-related fields is recommended. Bitcoin critics and proponents of other monetary theories highly welcome!

Streaming/Recording: Yes

Food and Drinks: None

Location: Online, Jitsi Meet via Freifunk Munich (simply works in your browser or with the app, easy to use, libre, open source, free as in beer, free as in speech, independently hosted, non-commercial, no data collection, no registration). More info: https://ffmuc.net/wiki/doku.php?id=knb:meet-en

In the meantime, you can try out the video conferencing software to test your setup here: https://meet.ffmuc.net/

Timetable:

(19:00 Announcement of the link to the video call, resp. the name of the room, and the link to the youtube stream in the comment section below. This should also trigger a reminder mail.)

20:00 Rolling start, chime in, say hello, introduce yourself off-the-record if you want to, organizational stuff
20:15 Livestream starts, optional on-the-record introductions, start of the seminar
22:00 (roughly) Wrap-up time, Livestream ends, optional break-out sessions

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This is our new in-depth, no-nonsense seminar series Satoshi's 21, which will take place every 21st of a month in various different locations (hackspace, co-working space, conference room, or similar), or online if circumstances so require.

Satoshi's 21 stands for:

• Every 21st of a month so that weekdays rotate
• 21 participants is the targeted and ideal working group size, but we could be more, we could be fewer
• And of course: honoring Bitcoin's monetary supply of 21 hundred trillion sats!

Contact us on Twitter: https://twitter.com/bitcoinmuc
Or join our Telegram group: https://t.me/joinchat/CYllaksSLloRHorac85fIQ