YouSaid · the spoken record

Parker Lewis

lines on the record: 93
first: 2021-10-13
most recent: 2021-10-13
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Well, that $23 trillion of credit that's created on top of $3.6 trillion in new base money that exists that ultimately finds its way to financial assets and that so for every dollar that essentially enters the system, it's those dollars that are entering the system which manipulate the cost of credit, both Fed funds as well as all other interest rates, all other dollar interest rates. The supply of dollars in what drives dollar interest rates is supply and demand for dollars. How do you drive interest rates to zero? Flood the market with more dollars on the supply side. But then once those new dollars exist in terms of baseline, more and more credits created on top of it and those deposits find their way ultimately to financial assets. So not only does the actual on a first order effect does the leverage increase, but that the flow of”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I mean, that is a reality. The other way framework that I think about it as. In the decade following the great financial crisis, the Fed printed $3.6 trillion digitally created, however, again, people like Lisenthal will be pedantic and say they didn't print. They digitally create a 3.6 trillion dollars. From 2007, beginning of 2008 to the Let's see, I guess over the next decade, I'm trying to get my frame of reference right to 2017, 2017-2018. The credit system grew from about $50 trillion to about $73 trillion. So for $3.6 trillion added to the system, it created, you know, it basically got lent out more and more in $23 trillion of credit was created.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Of 15 cents and say that that is worth a trillion dollars The QE thing didn't make sense to people, but it was complicated. This just articulates in very simple terms. Something is incredibly wrong here at multiple different layers. Do they think that we're idiots? And it really distills it down for people.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“that explain like, oh, it's not really printing money. They're swapping one liability for another. And then you start using swapping liabilities for another. And you've lost somebody at the door. And that what ends up ultimately happening is in the last year and a half, they've printed 4.5 or 4.7 trillion. you know, kind of effectively they doubled the money supply. When people don't immediately see 100% inflation the next day, they're like, well, they've printed money before and quote nothing happened. It just happened slowly and it ultimately will come to the logical endpoint. But when they get to the point of doing things so ridiculous as we're going to mint a coin that realistically it's not going to be made of gold, it's probably made out of nickel or copper that's worth the equivalent.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, and I think that the beautiful thing about it is that when the Fed affects quantitative easing, Like most people, when they say that Bitcoin is complicated. They have no understanding of the US financial system. The plumbing of it and how it works, but that's also why they can get away with quantitative easing. They're like, ah, it's complicated. The people that”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And it's becoming more and more evident. Will Cole, who's a colleague of mine at Unchained Capital, also lifelong friend of mine from here in Austin, he was interviewing his mother-in-law, Senator Lummis, at this Texas Bitcoin event two days ago, and he asked her about the trillion dollar coin. And she had a really funny response. She's like, well, I would say that if you gave me $6 trillion, I gave you six egg rolls. That would sound like a fair deal.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, it's very clear to a lot of people that the inmates are running the asylum right now and the inmates are the congressmen and women who throw around words like trillions and trillion dollar deficits that it's going to be a 3.5 trillion dollar bill, but that it's going to cost zero, that when they start getting to the point where they will say we will print a trillion dollar coin and that there's a guy like Joe Weisenthal who's on Bloomberg that goes out and says that there's sound economic and legal theory behind it. People to the actual adults are children”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That the Treasury does, but the Fed puts in essentially a request. And then that digital reserve is converted to a physical bill printed by the Treasury. And so in this case, the Treasury would mint a trillion dollar coin. Who knows what it was actually made out of, maybe gold just for, you know, to maximize whatever value you could pack into a trillion dollar coin. But then they would deposit that at the Federal Reserve and then the Federal Reserve would credit it to the Treasury General account and then the federal government could circumvent the legislative need to increase the debt soon. What it only signals for everybody else who has any lick of common sense is that the charade is almost over, that we're getting to this point where”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Their entire system collapses and they're highly motivated to not have that happen from a power structure standpoint. And so right now, kind of my view is the same thing will happen as it always does, which is they'll get to the last minute. They might even shut down the government for a period of time and then they'll increase the debt ceiling and all the while the debt and the in the entire system will continue to grow and the Fed will be the one finances it. You mentioned there was the reference of the trillion dollar coin. And my understanding of that while it is not highly technical is that, you know, in the current system, the Fed is actually the one that creates dollars. And it's the Treasury that prints dollars. So when a bank wants to convert a digital reserve to a physical note, the Fed doesn't”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And so for my entire, I'd say professional career, I can't remember how many of these instances there have been, but they all end the exact same way, that there will be political gamesmanship, but they're all just doing it to get what they want. They all have different motivations, but they all want something. And they derive a lot of power by the government actually running, and that's true of both sides. And so right now, there's a lot of nerves in the market. There's the Fed talking about tapering, and there's the federal government kind of debating a trillion and a half to three and a half trillion dollar budget. And there's a debt ceiling looming. And the reality is they're like, if you think that this time is different, that is the foolish position.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“that there's a natural function to want to contract credit. The credit impulse is impaired in those scenarios, in the current scenario, and that the Fed really needs the public system credit to expand because it needs the overall credit system to expand. So it one way or the other, not only will fund the federal government in its pursuits of trillion and a half and $3.5 trillion, whatever the budget might turn out to be. But there's effectively a partnership there. There's a constitutional separation of those powers. And the Fed is technically private entity. But at this point, the bed is made in their web.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Is the dynamic at play because the financial system is so highly leveraged that if it's not growing, if growth slows or growth contracts, the entire system implodes. One default actually causes the next. It's a very negative feedback loop. And so, but when we're in a period like we are today where growth is slowing and confidence is potentially all-time lows that”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The dynamic that's happening is there is a, because there's such a high degree of leverage in the financial system that when there's a shock to the system, like what happened with COVID, but I also do like to reiterate for people that the imbalance was already existing, the repo markets broke in September of 2019. There was a massive imbalance in the oil markets that had already appeared in January and February of 2020 and then COVID happened. But COVID was an accelerant that with a financial system that is as leveraged as it is. And then the economic system shutting down like that it was, that the Fed system needs credit expansion, otherwise the credit system will collapse. The Fed does not understand that, but that is”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“So I think this discussion is the perfect jumping off point for that last part about the Fed prints money, but the US government is in a scenario where the Fed has to print money. Essentially, the Fed, and when I say has to, it's not, I mean, there is a reality that they shouldn't, but we also have to operate in the reality of understanding not only what their psychology is, but what their economic worldview is, as well as the degree of leverage in the system it dictates that if they're going to continue their charade on, that they must print money. It would be, they would all have to forget everything that they thought they knew for the last 40 years to reverse course and not do that. But the”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Have less and less real goods, and you have a lot of people that will have a lot of the money and a lot of people that won't have any at all. And that has a very negative feedback loop. And then once it becomes apparent that there aren't real goods and services or that there are fewer and fewer of those. And you have a dynamic where there's fewer and fewer real goods and services. And at a time when there's more and more money, that is the combination of those two things. what actually happened on the on the lowest level was that the printing of money actually created the imbalance and created the environment where the supply chains would break down because the system was so fragile”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“There's an idea that I think it's just something that is true that is inarguable, that the value of any good will trend towards its marginal cost to produce and that the cost to produce a dollar is zero, the cost to produce $3 trillion is zero, the cost to produce $15 trillion Venezuelan boulevards is zero, that this is a logical endgame, that people understand that dollars are becoming more and more abundant, but hyperinflation doesn't just occur because governments print money. What is actually happening is the monetary unit is becoming less and less effective at its exclusive purpose, which is coordinating economic, to be facilitating trade and exchange. And that as those supply chains break down, then you've got more and more money at the same time that you”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Once the boast starts to burst at the seam, it's like you can pull on the thread, you can't push it back in. And that's essentially what's happening. Once the system is obviously structurally broken and people are losing their jobs and more people are dependent on government checks, it only can accelerate, right? Can they rescue it like they did in 2008, 2009 and can they rescue it like they did in March of 2019? It would seem, you know, it's like never say never, but we also didn't see those type of supply chains. And the thing that I articulate for people as well is that hyperinflation is not just a function of, and I don't like to use that term in a dystopian or fear-driven way, but when I just Explain it as a natural function. It's the way every fiat currency will ultimately end.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And that's how the money gets created. There's probably a few people that have to, you know, there's probably some financial control to ensure that not one person can just print trillions of dollars by clicking one button on the screen. But that is functionally how money is created in this system. And that through that operation, nothing like at the moment when the Fed puts a trillion dollars in, nothing economically changed. All that happens is the balance of who gets to allocate the monetary capital in the system has now been altered by the Federal Reserve. Imagine there's X amount of money and then there's X plus $1 trillion and well, the distribution of that money is different now that the economic system is fundamentally different in this case existing in a world where there's greater and greater imbalance. And so once the”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I try to visualize for people or get them to at least get this train of thought of like how when the Fed prints, they've printed 1.1 trillion just this year, they've printed, I believe, like 4.5 trillion since March of 2020, that if you actually think about the operation of like they just literally click a button on a screen.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“It's basically a ship where water is leaking from all parts of the boat and it's about to go under. And what they were essentially doing was whack-a-mole. But just like we all know that it's not going to end well when they print trillions of dollars, it really isn't. And it's not to say that this is necessarily the last cycle. I don't operate, I think, timing and part of the recognition that economic systems are incredibly complex. It's not worth necessarily predicting. It's worth being prepared for all interim weathers, but also knowing what the end state is. That is core to surviving all weathers and that The thing that I try to articulate, and I have one of the articles I've written is Bitcoin is common sense.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“One of the things I talk about a lot as it relates to Bitcoin is this idea that money and economic systems converge to a single monetary medium very naturally to the function of money. But more realistically what happens is that economic systems emerge from one money. that an economic system actually derives from a particular form of money. And what that means is that the supply chains only exist because a broader and broader set of people with a broader and broader set of capabilities all use the same money. And that when the Fed does that combination of two things allow imbalance to continue to exist and grow, as well as cause the underlying unit. monetary unit to not just depreciate, but to become less reliable, that when we see these supply chain issues,”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“provide any logic between it's not going to end well and they had to do and that it really just ends that it's not going to end well but that once you start to understand what actually happens through the function of the Fed printing money via quantitative easing it is that there is economic imbalance that exists and the market is trying to heal and eliminate that imbalance and the function of central banks printing money to sum it up in my mind does two things it allows imbalance to continue to exist and grow but that it also causes the deterioration of the monetary unit that coordinates economic activity and that that is that is the really destructive piece because”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The way that I look at this, especially if you talk to investors in the hedge fund community, wherever it might be, but traditional financial markets, they will look at 2008 and 2009, which was very similar to March to June and into this year of printing money. They will say something very consistent as if they are all just parroting each other's lines, which they'll say that as to the Fed printing trillions of dollars. They'll say it was crazy. It's not going to end well, but they had to do it. It's like almost verbatim, you will hear a bunch of macro investors and high finance types parrot that line and that they don't actually”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“But right now, with the supply chain piece, this isn't something that they're able to kind of pull a lever to. So we've had a CPI print, which is the gauge that they're forcing everybody to look down and say, this is what inflation is at 5% for the last, I don't know, five months. We've had CPI at 5%. And based on everything that you just described and everything that we've been seeing, it seems like it's not going to go away. And so like they're going to keep doing this. They're going to keep playing these games, but they can't make that CPI disappear or they can't make these supply chains get better by doing more quantitative easing. And so I'm just kind of interested. What does this look like moving forward in the next six months? You had implied that you don't think it's going away. Does it amplify? Does it get worse? What are some of your thoughts on it? So yeah, I think that, you know,”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Know what I find interesting about this one, Parker, is when you look at all the action that's been done by central banks over the last decade, it's almost like they always had a lever to pull to reflate things. So like the market was kind of throwing a tantrum back in 2015. Then it did it again in the 2018, 2019. It did it again. Then we had the COVID. And each time it did this, and we're talking about, you know, a 20% plus correction on the S&P 500, the central bankers would step in. They would exercise more QE. They would drop interest rates. They would play all those games with the levers that they had to pull, and it would reflate the stock market, right? The rest of the economy in the US, I think got more unstable and more unstable as all this was going on. And we're really starting to see that now here in 2021.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“people, whether it's in the government or the central banks that think this is like turning on a light switch and that you can turn it off and turn it back up, it just expresses a large degree of naivety, but then also just a lack of understanding of the stakes at play. Curious about online trading but haven't taken the first step yet.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I believe so. I'm not an expert on supply chains, but I do have an understanding of the US financial system and the complexity of the broader economic system. And so when I kind of anecdotally, when I hear about a car dealership here in Austin that typically sells 11,000 cars a year and have been told that they're only going to get 1,800 deliveries next year, that that has There is a whole host of inputs that could create that dynamic as well as consequences. People are going to have to be fired, car prices having to be increased, the more parts becoming more businesses that are in the supply chain of cars becoming impacted. That and so yeah, I don't know how given the landscape in the US financial system and the imbalance that exists within the broader economy, the rate of”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“everything comes home to roost. So I do think that it's, you know, it's like a Pandora's box that it's out. I don't see how it gets better before things get a lot worse. And I think that it ultimately will be kind of going through a restructuring of the entire system.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Economic system highly complex, like highly complex supply chains, just on time delivery type with, you know, I don't know how many vendors would be in a car or would be in a computer, but hundreds that as soon as there's a problem with one, then it causes delays of others and then solvency of different parts of solvency issues in different parts of the supply chain that it just starts to have a ripple effect. And so to then be able to zoom back out and say, well, was it because the government shut down a little like, well, no, because the US financial system was already incredibly fragile. Why was it fragile? Well, that's a story of 30 to 40 years of every time the economic system tried to eliminate imbalance, the Federal Reserve created an environment where imbalance could be sustained and then grow. And that then when you have shocks, ultimately.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“years of fiscal and monetary irresponsibility combined with in more recent time a government that thinks that they can take a highly complex system more complex maybe maybe rivaling the complexity of the human body and just stop it and then think that things aren't going to go back to normal they they never were but it was an accelerant to the disruption and so i think that um when when you basically take that combination of complex”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I think that it would be impossible to point to any one thing that is driving the supply chain issues. And I think that this is one of the things that That a lot of macro investors will will make an error, I believe it's a fool's errand. Well, the point to the evergrand situation or the point to COVID or they'll point to the response to COVID with the vaccine mandates, we're seeing today that there's a thousand cancellations on Southwest Airlines flights, but then some of it's driven by the fact that planes aren't in right places. The reality is that The US economy and the global economy are extremely complex and that the US financial system and the global financial system are incredibly fragile. So to point to any one thing, I think it isn't any one thing. It is the culmination of 30 to 4”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“News in their feed, if that could trigger certain actions, obviously it could. And so, and then I think people started posting basically just the filter of the 10% of how they wanted to portray themselves to the rest of the world. And so just for a number of reasons. And then I think about people sitting on their phones and getting into spats about politics for four or five hours a day rather than doing something productive. So, you know, if they're kind of comes back to them both being social networks, Bitcoin, not in terms of like Bitcoin, Twitter and socializing, but that money actually is a social consensus. It's a social network. And that it will lead to social good and that Facebook basically does the opposite. So if there's a company that's not going to survive the Bitcoin standard, I would say it's Facebook.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I deleted Facebook a long time ago. I think Facebook is the social network. Have you money in Bitcoin as a social network as well? It's a social consensus as to what the new form of money is going to be. But I don't think that there could be a greater contrast between Bitcoin and the social good that it will drive. And I don't think that there's a worse company in America than Facebook. It's just kind of the vitriol. It's like it's a place for people to go and, you know, scream at all of the people that they don't like. And ultimately, Facebook monetizes that. And so I think it's a really, it's very divisive. I think there was, I don't know how many years ago, but they did, they basically did an experiment on some of their users to see if they could affect their emotions. Where if they put negative...”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“certain type of people that generally prefer kind of a more individualistic individual freedom based movement so probably combination of a number of reasons”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“the political and regulatory climate in other areas, not just tax, but I think just two days ago, Tesla announced that they were moving that things might seem to be accelerating, but those same underlying trends that once there was a tech flywheel that probably would be traced back to Dell, realistically the same things that are causing businesses to move to Texas today existed 10 years ago. It's just becoming more obvious to more people. And so Apple has their second largest campus here, but so there's also just a lot of developers, a lot of engineers. The university has a big communicator science program. So that also drives a lot of people to go to UT, stay in UT, and so there's just a lot of computer engineers that are here as well. So it's, and then it attracts us.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I think, and while I'm not a student of this history, I did grow up in Austin, Texas. I'm a native here. And growing up, Austin was really a kind of sleepy college town. The capital was here, so it was more than just the University of Texas. But Michael Dell, I think if you trace back the history of Austin becoming a tech hub, it would be the founding of Dell and Michael Dell that started to, you know, kind of that was on the wave of really before personal computers, before there was a home in every house, Michael Dell and Dell were core to that. And then there was kind of all the ancillary industries that built up around Dell. And then once that flywheel started, then you also probably add to it.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Books about America, but in Texas and as relates to Bitcoin, that there are strategic advantages that you can't recreate that already exist here that will allow it to leave.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Than just Bitcoin. And then when you add on top a fairly favorable tax climate and with no state income tax and strong property rights, that's really, it's the combination of those three, the energy dynamic, the tech dynamic, and then the tax and regulatory environment here. When you add those three things together, it really becomes a gravitational force that's bringing the Bitcoin industry to Texas. And I don't think that when ultimately Bitcoin's going to be everywhere, but kind of in terms of leading the charge over the next several years, decades that I do expect Texas to be a leader for, you know, I don't know if you've ever read the book. It's not necessarily one of my favorite books, but there's a book called The Accidental Superpower.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“With the legislative side, and really in Texas, I think it's been the reverse, which is that there are a lot of natural non-legislative, non-regulatory reasons why Bitcoin, Bitcoiners, and the Bitcoin industry will flourish here. And I would really probably, if I was to summarize it, the energy, the deregulated natural resources, the deregulated energy grid, which, and then the fact that mineral rights are almost 100% privately owned in the state of Texas, which is not the case in a state like Wyoming. But then on top of that, Austin is really, has become over the last decade a tech hub in a broader speaking sense.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I think one distinction, and I love the state of Wyoming, I think that not only just being welcoming and forward-thinking about crafting legislation, but then also having Senator Lummis there in Wyoming a big advocate in the U.S. Senate, which I think is just for the broader Bitcoin movement, it's a really important voice. And it sounds like someone like Senator Cruz is coming along there as well, the more the better. But I think one distinction between a state like Wyoming and a state like Texas is they really led from a legislative perspective first. There wasn't a big Bitcoin community. I think there's a lot of things about Wyoming why Wyoming and Bitcoin will be a perfect match, but they really started.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Actually, I knew you were in Alabama. I actually didn't know if you were a Bama fan or Auburn. I don't know where they draw the lines.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“To college station last night, it was the first time to see an Aggie game in Aggie Land, and so that was pretty fun. They knocked off Alabama.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Well, we had an event here in Austin over the last few days. Technically, the Texas Blockchain Summit, I refer to it as the Texas Bitcoin Summit. But we had Senator Cornen and Senator Cruz from the state of Texas in town. And then we also had Senator Lumis all speak at the same event on Friday. It was a great host of people. A lot of people from the Bitcoin community were in town talking about the kind of really centric to everything that's happening around Bitcoin in Texas. So that was fun. And then after that on Friday, I actually made it down to College Station last night to see Texas A&M, which I'm actually, even though I didn't go to University of Texas, I'm not naggy. I'm a lifelong longhorn. But went down.”
2021-10-13 · We Study Billionaires · BTC047: Bitcoin, Supply Chains, Debt Ceilings and More w/ Parker Lewis (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT