The Big Print: How Unsound Money is Destroying America and How Bitcoin Can Fix It

Larry Lepard, a seasoned investor and Bitcoin advocate, recently published his first book titled "The Big Print: What Happened to America and How Sound Money Will Fix It". In this in-depth interview, Lepard discusses the key themes of his book and shares his insights on the current state of the monetary system, the potential for Bitcoin to revolutionize finance, and his predictions for the future.

Lepard begins by explaining his motivation for writing the book. He felt compelled to educate the public about the fundamental issues with the current monetary system, which he believes are not being adequately addressed by mainstream political discourse. The book aims to tell the story of how America has drifted away from sound money principles and how this has led to many of the economic and social problems we face today.

A central theme is that printing money, like alcoholism, starts with seemingly positive effects but inevitably leads to progressively worse outcomes. Lepard argues that the U.S. is now trapped in a debt spiral that can only be resolved through major monetary reform or a crisis. He sees Bitcoin as a potential solution, calling it "digital gold" and a superior form of sound money.

Some key points Lepard makes about the current monetary system:

• The Federal Reserve's ability to print money at will has enabled reckless government spending and debt accumulation
• Inflation acts as a hidden tax that disproportionately harms the poor and middle class
• The wealthy have been able to benefit from money printing through access to cheap credit and asset inflation
• War and wasteful government spending have been enabled by the ability to print money
• The gold standard was abandoned, removing a key constraint on money creation

On Bitcoin, Lepard is highly optimistic about its potential:

• He sees it as a superior form of sound money compared to gold due to its fixed supply and ease of transfer
• Bitcoin solves the "Byzantine Generals Problem" of coordinating trust in a decentralized system
• Nation-states are starting to accumulate Bitcoin as a reserve asset
• Bitcoin's adoption curve resembles other revolutionary technologies in their early stages
• The next 5-10 years could see Bitcoin rise to $1 million or more per coin

Lepard predicts we are heading for a sovereign debt crisis in the coming years as the debt spiral becomes unsustainable. He believes this will force a monetary reset of some kind, potentially involving a return to sound money principles. While he hopes for a smooth transition, he acknowledges the potential for a more chaotic scenario.

On a personal note, Lepard shares that writing the book was an all-consuming 6-month process. He emphasizes the importance of working with a skilled editor and getting feedback from test readers. His goal is for the book to help "orange pill" the general public about the problems with the current system and the potential of Bitcoin.

Lepard closes with some life advice, encouraging people to prioritize experiences and time with family over material pursuits. He sees technology as ultimately a force for good that will help solve many of society's problems. While realistic about the challenges ahead, Lepard remains optimistic that a transition to sound money will lead to a more prosperous and ethical world.

Overall, "The Big Print" aims to be an accessible explanation of complex monetary issues for a general audience. Lepard hopes it will raise awareness and contribute to the growing movement for monetary reform and Bitcoin adoption. As an experienced investor who has lived through multiple economic cycles, he offers a valuable long-term perspective on the current state of money and finance.

Article created from: https://youtu.be/Y5zYiSFynSM?si=i6MNc9z_w2Yqx6mX