First, we find out that Aaron Rodgers paid Nathan Bitcoin. Then Luc and Nate announce a bet that, by the end of the episode, puts Nate in deep dept.



Then it's onto our topic. First, we talk about bond prices, bond yields, and how they work together. Then we talk about the yield curve and why we want to talk about bonds. This includes how they impact the price of other assets. We then discuss the structure of the bond market and how the treasury auctions work.



This leads to an explanation of the federal reserve and its powers and how it interacts with commercial banks. This gets us into quantitative easing and what happens when the bond market blows up.


This leads to a discussion about what assets we own in light of this information and the last twenty minutes or so are all about how we think Bitcoin solves these issues.

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