Everything that your fiat teacher told you is lies.
NUMBER GO DOWN: Deflation, Bitcoin, and Communist Lies | Allen Farrington
Allen Farrington returns to THE Bitcoin Podcast to discuss his latest essay “Number Go Down,” the myths surrounding deflation, why fiat economics gets causation backwards, and how inflationary monetary systems distort society itself.
CONVERSATION MAP
Choose a timestamp to jump straight into the conversation.
LISTEN EVERYWHERE
Choose your player.
Exact matches use title, publication date, and duration.
FROM THE TRANSCRIPT
Conversation highlights
A quick read from the 18,744-word episode transcript.
5 The whole fiat game is misleading people by being imprecise, 6 so I'm just performatively doing the opposite.
7 We know that necessarily every fiat currency goes to zero eventually.
9 You just end up in this doom loop of like, 10 socialism causes misery and poverty, 11 both of which cause people to want more socialism to try to fix it.
TRANSCRIPT EXPLORER
Read the conversation.
Search the 18,744-word source transcript, then jump straight to the moment.
It's just accurate to say that central banking is communist.
It's literally in the communist manifesto.
Therefore, pay more money.
The whole fiat game is misleading people by being imprecise,
so I'm just performatively doing the opposite.
We know that necessarily every fiat currency goes to zero eventually.
Can you have a true free market without a free market in money?
Show notes & resources
Allen Farrington returns to THE Bitcoin Podcast to discuss his latest essay “Number Go Down,” the myths surrounding deflation, why fiat economics gets causation backwards, and how inflationary monetary systems distort society itself.
Walker and Allen explore the “paradox of thrift,” why central banking is fundamentally incompatible with free markets, and how fiat money fuels wealth inequality while convincing people capitalism is to blame. They also dive into socialism, Bitcoin as a savings technology, lowering time preference, and the future of Bitcoin scaling technologies like Lightning and ARK.
The conversation also covers Bitcoin Is Venice, the upcoming second edition of the book, and why Bitcoin adoption may happen not through ideology — but through people slowly rediscovering common sense.
