sourceType:: podcast author:: michael malice sourcePublication:: Your Welcome ref:: https://youtu.be/61emb86-740 noteTitle:: Your Welcome Curtis Yarvin and Dave Smith; michael malice. (podcast)
Your Welcome Curtis Yarvin and Dave Smith; michael malice. (podcast)
Reading suggestions:
- Democracy, the God that Failed, Hoppe ref_democracy-the-god-that-failed_hans-hermann-hoppe_
- Rothbard, then, Mises (in that order)
45 minutes in: convert social security to an annuity, now nobody can fuck with it. also you can sell it for cash today. so either keep the annuity or have the cash. this doesn’t take anything away from anyone - they still have the benefit, and maybe even better than before - but now it stops being “vote buying” game. democrats (or anyone else) can’t use social security policy as a way to get votes. it cuts the government cord but doesn’t deprive anyone of benefits.
soft currency as government equity. federal reserve note is like a stock in the government. printing money is like issuing shares for a one-time event. restructuring, like in a bankruptcy.
curtis: libertarianism is newtonian physics but we’re living in an einsteinian world. dave: you think the above, but i think: libertarianism is the actual laws/rules underpinning the system, but we’re pretending we’re in this other system (where we can print money forever, etc).
debt to equity conversion in a bankrupcty
- here are the debts / fixes liabilities we can’t pay, we’ll convert them as equities
- we don’t know how much people will be able to get for this thing, but everyone is going to get the same amount. you have to pay off your lenders before stockholders. so you have a seniority structure. rationalizing a system that is relatively insane. because it’s not operating at a profit.