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Matthew Mežinskis is co-host of the Crypto Votes podcast and author of the Crypto Voices Global Monetary Base report. In this episode of Fed Watch, Christian Keroles and I discuss the Q3 2020 update of that report with Mežinskis. What follows is a comprehensive conversation, from Mežinskis’ ‘Bitcoin Origin Story’ to the tricky definitions of what money is, and back to a personal walkthrough of images in this report (see the YouTube version of the podcast for these images).
Mežinskis was introduced to Bitcoin in 2011, but only became heavily involved in 2013. As most of the people who have fallen down bitcoin’s rabbit hole know, an outlet is needed as they assimilate the concepts of Bitcoin. Mežinskis’s outlet was in the form of his podcast, “Crypto Voices.” From humble beginnings, with Mežinskis reading and talking about Bitcoin articles, the show entered a new phase with the addition of co-host Fernando Ulrich. It grew into a home for the exploration of important economic concepts through quality interviews and in-depth discussions between the two hosts.
The talks on Crypto Voices made Mežinskis and Ulrich aware of the dire lack of information about base money. There were some disparate data, but none were presented systematically. Base money is the foundation of our monetary system, but no easily accessible data was available until Mežinskis started publishing the Global Monetary Base report. He has searched the data for a long time and has produced a wonderful result.
The discussion on this episode of Fed Watch revolved around the question “what is base money?” and Mežinskis’ thoughts on some of the fringe cases in the definition. We have also attacked the inflation / deflation debate from a data-driven angle thanks to Mežinskis’ research and knowledge on the subject. We didn’t ask simple questions and expanded the topic beyond the general hyperinflationary tropes of the dollar’s end.
The listener will hear the discussion of the dollar’s liquidity, the history and current status of gold and silver, dollar’s foreign exchange reserves, and of course Bitcoin’s current status in relation to other types of base money. Mežinskis also shared some great charts that can be seen on the video version of Fed Watch on YouTube.
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