Bitcoin is World Hope - Natalie Brunell in Mexico City

Summary

Natalie Brunell, host of The Coin Stories podcast, shares her family's journey from Poland to the U.S. and their struggle with the 2008 financial crisis, which led her to Bitcoin. She sees Bitcoin as a beacon of hope, a global currency that promises a fairer, more inclusive economic system. The script discusses the historical decay of fiat currencies, the importance of economic dignity, and the revolutionary potential of Bitcoin to democratize finance, offering a stable and equitable financial framework free from government control.

Takeaways

• 🌟 Natalie Brunell is the host of The Coin Stories podcast and shares her personal story of hope through Bitcoin after her family faced financial hardship.
• 🌱 Born in Poland and raised in the U.S., Natalie's parents experienced the lack of economic hope under communism and had to start over after the 2008 financial crisis.
• 🌐 With Bitcoin, Natalie sees herself as a global citizen and believes in the potential for a fairer and more inclusive economic system.
• 📚 Jeff Booth's book 'The Price of Tomorrow' is quoted to emphasize that hope is a driving force in economics and essential to the human spirit.
• 💭 The script discusses the growing sense of hopelessness in society due to financial struggles and the feeling of an unjust and broken system.
• 📉 The script references Ayn Rand's 'Atlas Shrugged' to illustrate the decay of society when free trade and individual rights are abandoned.
• 💰 It highlights the power of money to shape human behavior and societal structures, and how financial insecurity can lead to immoral acts and desperation.
• 💡 Friedrich Hayek's ideas are mentioned, suggesting that for money to be stable, it should be free from government control, which is a central tenet of Bitcoin.
• 🚫 The script criticizes the current financial system where governments and central banks have the power to create money without constraints, leading to inflation and theft of value.
• 🔑 Bitcoin is presented as a technological breakthrough offering a decentralized, trustless, and incorruptible way to transfer value, free from central authority control.
• 🌱 The script positions Bitcoin as a movement for financial freedom, economic empowerment, and a system that rewards meritocracy and hard work, in contrast to the current crony capitalism.

Q & A

Who is the host of The Coin Stories podcast?

Natalie Brunell is the host of The Coin Stories podcast.

What was Natalie Brunell's parents' experience with the financial crisis of 2008?

Natalie's parents, who were first-generation immigrants from Poland, lost everything seemingly overnight during the 2008 financial crisis and had to start over again in their 50s.

How does Natalie Brunell perceive her identity in relation to Bitcoin?

Natalie sees herself as a global citizen with the advent of Bitcoin, transcending her Polish and American identities.

What role does hope play in economics according to Jeff Booth's book 'The Price of Tomorrow'?

In 'The Price of Tomorrow', Jeff Booth posits that hope for a better life is a motivating force in economics, driving people to work hard and plan for their futures.

How does Natalie Brunell describe the impact of financial insecurity and poverty on human behavior?

Natalie suggests that financial insecurity and poverty can push people into desperate situations, leading them to make choices they might not otherwise make, potentially driving them to commit immoral acts.

What does Ayn Rand suggest about the state of a society when trading is done by compulsion rather than consent?

Ayn Rand implies that when trading is compelled rather than consensual, it indicates a society that is doomed, as it has abandoned the principles of free trade, individual rights, and merit.

How does Natalie Brunell view the current state of capitalism?

Natalie criticizes the current system as crony capitalism, where those closest to the money and power benefit at the expense of others, rather than a true meritocracy.

What is the fundamental issue with conventional currency according to the script?

The fundamental issue with conventional currency is the trust required for it to work, as central banks must be trusted not to debase the currency, which has historically been breached.

What technological breakthrough does Bitcoin represent, as mentioned in the script?

Bitcoin represents a technological breakthrough in cryptography, allowing for the decentralized and trustless transfer of value that can be verified by anyone worldwide.

How does the script describe the potential of Bitcoin in democratizing finance?

The script suggests that Bitcoin can democratize finance by increasing inclusion, banking the unbanked, and offering property rights to billions of people, enabling the free flow of value globally.

What is the proverb mentioned in the script about the importance of staying alert and taking action?

The proverb mentioned is 'the shrimp that falls asleep is carried away by the current,' highlighting the dangers of complacency and the need for vigilance and action.

Outlines

00:00

🌏 Embracing Global Citizenship with Bitcoin

Natalie Brunell, host of The Coin Stories podcast, introduces herself as a first-generation American with a Polish background. She shares her family's immigration story, driven by the desire for economic hope and social mobility away from communism. The 2008 financial crisis deeply affected her family, leading to a loss of everything and a restart in their 50s. This experience shook her hope, but finding Bitcoin gave her a renewed sense of global citizenship and optimism for a fair and inclusive future. Natalie emphasizes the importance of hope as a fundamental human emotion, akin to oxygen, that fuels our dreams and courage, especially during challenging times. She reflects on societal decay when free trade and individual rights are abandoned, as illustrated by Ayn Rand and Mark Twain's views on money's influence on societal virtue.

05:01

💵 The Quest for Stable and Trustworthy Currency

The script discusses the instability and trust issues inherent in fiat currencies managed by governments and central banks. It points out the unchecked power these entities have to print money, leading to inflation and a loss of economic dignity for individuals. The speaker contrasts this with the ideas of Friedrich Hayek, who advocated for money free from government control, and the revolutionary introduction of Bitcoin as a decentralized, trustless, and incorruptible form of money. Bitcoin is presented as a technological breakthrough that allows for the transfer of value without the need for central authorities, offering a more equitable financial framework and a movement towards financial freedom and economic empowerment. The paragraph also touches on the importance of Bitcoin in creating a meritocracy for money creation, in contrast to the current system where those in power can create money at no cost to themselves but at a great cost to others.

10:03

🚀 Capitalism and the Democratization of Finance Through Bitcoin

The final paragraph emphasizes the success of capitalism in improving material well-being but criticizes the current state of 'crony capitalism' where those closest to power benefit disproportionately. It highlights Bitcoin's potential to democratize finance by providing a system that is immune to manipulation and monopolization, thus leveling the economic playing field. The speaker draws a parallel between the internet's democratization of information and Bitcoin's potential to democratize value transfer, offering property rights and financial inclusion to billions worldwide. The paragraph concludes with a call to action against complacency, urging individuals to educate themselves about Bitcoin to protect their savings and participate in the financial revolution it represents.

Keywords

💡Communism

Communism is a political and economic ideology that seeks to establish a classless society where the means of production are owned and controlled by the community as a whole. In the script, the speaker's parents grew up under communism, which is depicted as a system that lacks economic hope and social mobility, motivating them to seek a better life in the United States.

💡Economic Hope

Economic hope refers to the belief or expectation that an individual or a community can achieve a better economic status or improved financial well-being in the future. The script mentions that the speaker's parents had no sense of economic hope under communism, which contrasts with the opportunities they sought in the United States.

💡Financial Crisis of 2008

The Financial Crisis of 2008 was a global economic downturn that resulted in significant job losses, housing market crashes, and the collapse of major financial institutions. In the script, the speaker's family lost everything seemingly overnight due to this crisis, highlighting the vulnerability of traditional financial systems.

💡Bitcoin

Bitcoin is a decentralized digital currency that operates without a central bank or single administrator, using blockchain technology to regulate transactions and issue new units. The script describes Bitcoin as a source of hope for the speaker, offering a new financial system that is more fair, inclusive, and full of opportunity.

💡Global Citizen

A global citizen is someone who identifies with being a member of the world community, rather than only with one nation or country. The speaker identifies as a global citizen through Bitcoin, emphasizing the currency's borderless nature and its potential to unite people across the world in a common financial system.

💡Hope

Hope is a positive and future-oriented emotion that is central to the human spirit. In the script, hope is described as a driving force in economics and a fundamental part of humanity, with the power to motivate, nourish, and provide direction, especially in challenging times.

💡Fiat Currency

Fiat currency is a government-issued currency that is not backed by a physical commodity, such as gold, but rather by the government that issued it. The script criticizes fiat currencies for being subject to manipulation by governments and central banks, leading to inflation and a loss of economic dignity.

💡Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, the purchasing power of currency is falling. The script discusses how inflation, caused by the debasement of currencies, leads to feelings of insecurity, inequality, and a loss of control over financial futures.

💡Capitalism

Capitalism is an economic system based on private ownership of the means of production and their operation for profit. The script contrasts the current state of 'crony capitalism' with the ideal of a meritocratic system where success is based on creating value and serving others, as exemplified by Bitcoin.

💡Democratization of Finance

The democratization of finance refers to the process of making financial services and opportunities accessible to a broader segment of the population. The script suggests that Bitcoin can democratize finance by providing a more equitable financial framework and offering property rights to billions of people worldwide.

💡Cryptography

Cryptography is the practice and study of techniques for secure communication in the presence of third parties. In the context of the script, cryptography is central to Bitcoin's technology, allowing for the secure and decentralized transfer of value without the need for a trusted intermediary.

💡Meritocracy

A meritocracy is a system where the power or status of individuals is based on their abilities and achievements, rather than factors such as wealth or social class. The script describes Bitcoin as a meritocratic system where the creation of new currency requires energy, sacrifice, and adherence to rules, without special advantages or privileges.

💡Internet

The internet is a global network of interconnected computers that allows for the exchange of information and communication. The script draws a parallel between the transformative impact of the internet on information flow and the potential of Bitcoin to revolutionize the flow of value in the digital world.

Highlights

Natalie Brunell introduces herself as the host of The Coin Stories podcast and a first-generation American with a personal connection to economic struggles.

Her parents' experience with communism and the financial crisis of 2008 instilled in her a sense of economic hopelessness until discovering Bitcoin.

Bitcoin is presented as a beacon of hope, offering a more fair, inclusive, and opportunity-rich economic system.

Hope is described as essential to the human spirit, like oxygen, and a driving force in economics.

The feeling of hopelessness in society, especially among the younger generation, is highlighted as a significant issue.

Ayn Rand's 'Atlas Shrugged' is referenced to illustrate the decay of societal values when free trade and individual rights are abandoned.

The concept that 'the lack of money is the root of all evil' is discussed, emphasizing the impact of financial insecurity on human behavior.

Friedrich Hayek's views on the necessity of money being free from government control to be stable and useful are mentioned.

The current financial system, with its reliance on government-controlled currencies, is criticized for its potential for manipulation and inflation.

The idea that Bitcoin offers a more stable and equitable financial framework, free from government control, is presented.

Bitcoin is praised as a technological breakthrough, providing a decentralized and trustless method for transferring value.

The meritocratic nature of Bitcoin's creation process is contrasted with the crony capitalism of the fiat system.

Warren Buffett's perspective on capitalism and wealth creation is referenced, highlighting the need for a system that rewards value creation.

The transformative impact of the internet is compared to the potential of Bitcoin to democratize finance and enable the free flow of value.

A call to action is made to educate oneself about Bitcoin and its implications for the future of finance and personal economic empowerment.

The importance of hope in overcoming societal division and negativity is emphasized, with Bitcoin positioned as a symbol of that hope.

Transcripts

[Music]

hi everyone I'm so honored to be here my

name is Natalie Brunell and I am the

host of The Coin Stories podcast I am a

first generation American I was born in

Poland and my parents always dreamed of

coming to the United States to raise

their children there because they grew

up under

communism and they had no sense of

economic hope or social Mobility my

parents came to the United States around

the age of 40 and they worked so hard to

be able to afford a house a small home

outside of Chicago for them and for my

brother and for me but when the great

financial crisis hit in 2008 they lost

everything seemingly overnight and they

had to start over again in their 50s and

they felt really hopeless and my hope at

that young age was also shaken until I

found Bitcoin so I am Polish I am

American but with Bitcoin I see myself

as a global citizen one who has never

had more hope for the future that we can

build and create together in a system

that we can make sure is more fair more

inclusive and full of opportunity if we

are ready to seize it one of my mentors

Jeff Booth in his powerful book the

price of Tomorrow said that hope for a

better life is a motivating force in

economics it motivates us to work hard

to achieve so that we can plan for our

futures and I believe hope is essential

to the human Spirit it really is Like

Oxygen it breathes life into our dreams

and gives us courage to face even our

most daunting challenges hope is really

a spark that lights up the dark times

and it's a steady flame that keeps us

moving when the road gets tough and

without hope we're really like boats of

drift but with it we have a compass a

sense of direction that moves us forward

hope is really inherently positive it's

one of the most powerful forms of inner

strength that gives us energy it

nourishes us it calms us especially in

those conversations that we have with

ourselves when we're full of doubt and

it is a fundamental part of our Humanity

but as you may agree we're losing hope

for a long time especially in my 20s

when I was working my way up in the

Legacy television news world I was

really starting to feel hopeless

I started to wonder if the future was

actually going to be better people

everywhere were working harder and

harder for money that was worth less

including myself and the cost of living

everywhere just keeps going up so fewer

and fewer people feel like they can

really keep up they're Treading Water

everyone knows that something feels off

something feels unjust and broken in

1957 nearly 70 years ago ion Rand wrote

in Atlas Shrugged when you see that

trading is done not by consent but by

compulsion when you see that in order to

produce you need to obtain permission

from men who produce nothing when you

see that money is Flowing to those who

deal not in Goods but in favors when you

see that men get richer by graft and by

pull rather than by work and your laws

don't protect you against them but

protect them against you when you see

corruption being rewarded and honesty

becoming a self-sacrifice you may know

that your Society is

doomed I Rand beli that money was the

barometer of society's virtue and its

values and she was prophetic in

describing the Decay that sets in when

Society abandons the free principles of

free trade of individual rights and of

Merit the iconic American author Mark

Twain is attributed to saying the lack

of money is the root of all evil now

this is a Twist on a Biblical proverb

the love of money is the root of all

evil but when you change the word love

to lack you shift the focus from the

desire for money to the visceral

experience of the absence of money not

having money and perhaps just feeling

like maybe you don't have enough money

can lead to all sorts of problems even

driving people to commit immoral acts

Financial insecurity and poverty can

push people into desperate situations

leading them to make choices they might

not otherwise make money really holds

the power to shape our human behavior

our decisions and ultimately the

societal structures that we create and

live in and in this perspective it's not

the pursuit of money that creates evil

but the scarcity and lack of it the lack

of economic substance and feeling like

you can get by and that makes people

feel unsafe distrustful and more prone

to control and to coercion which I think

we see more and more of and when I was a

journalist I was certainly covering more

and more in my job I don't believe we

shall ever have a good money again

before we take the thing out of the

hands of government that is we can't

take it violently out of the hands of

government all we can do is by some Sly

roundabout way introduce something they

can't stop these are words from

Economist and Noble laurate Friedrich

Hayek more than 40 years ago as if he

was predicting Bitcoin it suggests that

for money to be stable and useful it

should be free from government control

but today governments and Central Bank s

around the world hold the unbridled

power to create and manage money they

can print it out of thin air with no

constraints they add billions and now

trillions to balance sheets at the

stroke of a key without any single vote

and the United States Remains the global

Reserve currency for now but it is

backed by nothing of scarcity nothing

that can keep the government in check

and so the people in power can

manipulate our money's value they can

create inflation by expanding the supply

of money and they steal from us while we

sleep someone very smart said not too

long ago Fiat is a fraud I started my

professional career in 1981 the peso was

20 to1 to the dollar today we are at

20,000 to one this is the theft of

inflation and thank you Ricardo for this

very direct and truthful observation

when governments manipulate and debase

currencies they strip people of their

economic dignity and economic dignity is

so core to our self-worth and our

ability to have and maintain a sense of

hope inflation leads to feelings of

insecurity of inequality and a loss of

control over not only our financial

Futures but also our lives and it steals

our time and makes us prone to distrust

one another and we see that trust

breaking down everywhere trust in

institutions trust in maybe the people

that are in your own Community because

we have a system that is leaving

hardworking good people further and

further behind the root problem with

conventional currency is all the trust

that's required to make it work the

Central Bank must be trusted not to

debase the currency but the history of

Fiat currencies is full of breaches of

that Trust Banks must be trusted to hold

our money and transfer it electronically

but they lend it out in waves of credit

bubbles with barely a fraction in

reserve Satoshi kn Oto the father or

maybe mother of Bitcoin made this

profound observation in the white paper

that released Bitcoin into the world

Satoshi gave us a gift aimed at solving

our greatest problem our Reliance on

Central authorities many of whom are not

elected to protect the value of our

money and history shows that people in

power are corruptible currencies have

been devalued in every nation and

history shows that that devaluation has

also been used to fund countless very

deadly Wars and we know that banks have

engaged in very risky Behavior with

little or no reserves only to be bailed

out by us the citizens and the taxpayers

these breaches of trust have real world

consequences for everyday people

affecting their savings their

Investments their Financial Security

Bitcoin seems to be a very promising

idea that's what Cypher Punk halin said

back in 2008 and he was the first person

to receive a Bitcoin transaction from

Satoshi Nakamoto Hal saw very early on

what so many of us see now that Bitcoin

is a remarkable technological

breakthrough an achievement of

cryptography allowing for the transfer

of value in a digital decentralized

trustless way that can be verified by

anyone in the world it is borderless it

is permissionless and it is

Incorruptible but equally important

Bitcoin as a new form of money can't be

controlled and it offers a more stable

and a more Equitable Financial framework

for us to rebuild on we have to have a

strong Foundation it is a movement for

Financial Freedom for economic

empowerment and for the separation of

money and state for the first time we

have a form of money immune to

manipulation and monopolization and it

levels the playing field for everyone in

the

economy I am a

capitalist and I have never seen a more

capitalistic system than Bitcoin which

WS putting in the work it is a

meritocracy to create money in the F

Fiat world the people in power those at

the top they can just push a button and

make it at no cost to them but at a

great cost to everybody else to the

Savers to create Bitcoin you have to

expend energy you have to make

sacrifices and you have to follow the

rules there is no one with a special

advantage or privilege it is a system of

rules without rulers and it is a free

market encouraging the accumulation of

capital capitalism has been the most

successful system for making people

better off materially in the history of

the world Warren Buffett now he may not

understand Bitcoin yet but he

understands capitalism and wealth

creation and he has benefited from the

Fiat system we don't have real

capitalism today we have crony

capitalism we have the cantelon effect

where those closest to the money and to

the printer and to the power benefit

this is not the spirit of capitalism

capitalism fuels Prosperity by enabling

free trade and Innovation and

competitition where risks can be justly

rewarded or allowed to fail capitalism

allows people to create value by solving

problems and ultimately serving others

you only succeed in capitalism if you

give people something they want

something to fill their needs something

to make them happy something to make

their lives better

capitalism in its imperfect form helped

give birth to The Innovation that was

the internet and think of how that has

transformed all of our Lives we have an

internet computer in our hands at all

times and so quickly it took off and

transform the way we do business and the

way we communicate with each other I

remember being a young girl watching the

news anchors that I looked up to on

National American television networks

talking about the early internet in the

'90s they were confused about the at

sign they didn't know what was and they

were very dismissive about how it would

fundamentally change everything that we

do the internet democratized information

much in the same way that the printing

press democratized information and

knowledge in the Middle Ages which

ultimately led to the separation of

church and state now the internet gave

rise to powerful big Tech monopolies but

it also offered a platform to

Independent voices and creators around

the world including myself to share

their thoughts to share their ideas

their lives and Bitcoin will do the same

through the creation and transfer and

preservation of value in the digital

world it will do it everywhere

instantaneously it will democratize

finance by increasing inclusion banking

the unbanked and offering property

rights to 8 billion people whereas the

internet allowed for the free flow of

information Bitcoin will allow for the

free flow of

value La I hope I said that correctly

the shrimp that falls asleep is carried

away by the current I heard this is a

proverb that's said in some parts of

Mexico about the importance of staying

alert and taking action because

complacency can lead to undesirable

outcomes and complacency about Bitcoin

can mean losing your hard-earned savings

and allowing your money and your future

to be controlled by someone else you

don't want to fall asleep on the

Revolutionary implications of Bitcoin in

the same way that you didn't want to

fall asleep on the transition to the

internet age it embodies the imperative

of educating yourself about Bitcoin

about the promise and the power of this

technology doing nothing is not an

option when your savings are being

inflated away there is so much darkness

in this world to today there is so much

Division and negativity and it is our

choice if we want to focus on the

negatives the things that are wrong the

things that are broken but in doing that

we breathe life into the darkness and

the only thing that's more powerful than

that darkness and then fear is hope hope

is being able to see there is light

despite all the darkness so we can

choose to focus on the light the people

motivated to change the world through

fixing our money leveling the playing

field helping uplift workers around the

world and building tools for economic

empowerment in every nation Bitcoin is

Hope thank

you