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The Peter McCormack Show — Business
The Peter McCormack Show

The Peter McCormack Show – politics, macro, Bitcoin and AI, long-form interviews. Twice-weekly conversations about money, power, and the shifts reshaping the next decade.

Peter McCormack interviews politicians, economists, investors, journalists, founders and Bitcoiners. Past guests include Liz Truss, Lyn Alden, Curtis Yarvin, Matt Goodwin, Mike Green, Balaji Srinivasan, Rupert Lowe, Firas Modad, Scott Horton, Jeff Booth, Connor Leahy, Andrea Miotti, Neema Parvini, Dr Tim Gregory and Simon Dixon.

Recurring threads: the debt and inflation endgame, UK political collapse and what comes after, Reform and the populist wave, the Middle East and the American war machine, AI safety and the race for superintelligence, energy and net zero, Bitcoin adoption and policy, and the slow-motion decline of Western institutions.

Long-form – most episodes run 60 to 120 minutes. New episodes 2 to 3 times per week. Video on YouTube and Spotify.

Host: Peter McCormack, a retired rapper from Bedford, UK, trying to understand this crazy world.

Hosted on Acast. See acast.com/privacy for more information.

Latest Episodes:

The Economics of War with Alex Gladstein - WBD468 Feb 28, 2022

Show notes

Location: San Francisco Date: Monday 7th February Project: Human Rights Foundation Role: Chief Strategy Officer

The majority of citizens of developed countries are blind to the true cost of modern warfare. Wars are fought in far off lands by technically advanced and voluntary armies; few people have direct or indirect exposure to first-hand experiences. Media coverage is sanitized of the associated brutality. And politicians willfully talk up the benefits of such wars with patriotic vigour.

Yet, the cold hard truth is extensive and vicious wars are being fought in our name. The costs of such wars are counted in thousands of faceless lives, and trillions of dollars of debt to be paid by future generations. That such wars have vague and shifting missions, or, are predicated on falsehoods, seems to be of little consequence. Citizens mostly tend to shrug their shoulders.

Large anti-war protests are still evident on occasions, most obviously at the moment in relation to the Russia-Ukrainian conflict, and previously in the lead up to the Iraq war. But, such protests are peaceful, sporadic, and ineffective. Wars still get fought. Aside from ethical discomfort, the costs to the majority not fighting the wars are limited.

That citizens don't personally shoulder the costs of war is why politicians still feel empowered to engage in such actions, or, more importantly, to stay engaged in wars they did not start. It is why democratic peace theory has broken. There are multiple causes, but the fiat monetary system is a principal area of concern, enabling the financial burden to be offloaded to future generations.

Bitcoin doesn't fix war. But, in a Bitcoin standard world, it would certainly make it harder to fight wars without citizens feeling the fiscal impacts. Ergo, citizens would have a greater interest in demanding a say.

In this interview, I talk to Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation. We discuss how the fiat monetary system has broken democratic peace theory, why MMT enables forever wars, how Bitcoin could reduce unnecessary wars, and the need to discuss this more honestly within society.

Hosted on Acast. See acast.com/privacy for more information.

What Drives Wealth Inequality? with Lyn Alden - WBD467 Feb 25, 2022

Show notes

Location: Remote Date: Tuesday 22nd February Project: lynalden.com Role: Macroeconomist

Wealth inequality is as an emotive subject as any. At a minimum it can divide societies, pitting citizens against each other. If left to deteriorate and fester it can lead to populist uprisings.

Both sides of the political divide put forward causes and propose solutions. And yet, despite the arguments being well worn, most of the assumptions underpinning these opinions don't stand up to scrutiny.

Quantitative easing results in increased inequality - well, not necessarily. Globalisation leads to a hollowing out of the working class in developed nations - only in certain parts of the world. Governments enable cronyism to exacerbate wealth disparities - lobbying can constrain competition, but it is unclear whether libertarianism would halt monopolistic practices.

Those vying to shape opinion would have us believe in binary arguments. The problem, as ever, is that this subject is complex with many dynamic variables. It isn't a question of making targeted policy interventions. A much more holistic and flexible approach is required.

In this interview, I talk to macroeconomist and investment strategist Lyn Alden. We discuss the multi-faceted drivers of wealth inequality, the societal impacts of such disparities, whether we're on the cusp of another great depression, state-led policies, and whether Bitcoin is a mitigation.

Hosted on Acast. See acast.com/privacy for more information.

Bitcoin & the Culture Wars with Eric Weinstein - WBD466 Feb 23, 2022

Show notes

Location: Los Angeles Date: Friday 4th February Company: Thiel Capital Role: MD

Culture wars, identity politics, the intellectual dark web, audience capture: this is the well-worn nomenclature used to define the battles of open discourse that have been raging over the past few years. Retaining an authentic and honest voice in today's polarised and intolerant society has required fortitude and resilience.

But, trying to engage with those who refuse to have (or are incapable of having) an open mind takes its toll. In addition, it is equally waring to engage with those who have a firm opinion on all matters. People generally refrain from admitting they don't know, or that they are open to changing their views, as though indecision or uncertainty are damning frailties.

Having a society that is blinkered and entrenched and toxic is obviously counterproductive. In a political context, pluralism is the bedrock of a functioning democracy. In science, openness to new ways of thinking and new ideas allows for the paradigm shifts that propel the advancement of our civilisation.

That some of our generations greatest thought leaders are having to waste their time defending their right to have views, instead of actually developing and sharing their views, is the behaviour of an inward-looking society starting to wither. The people within Bitcoin must help fix this.

In this interview, I talk to the managing director of Thiel Capital and podcaster Eric Weinstein. We discuss media fact-checking, colonising other worlds, physics beyond Einstein, intelligent design, narrative wars, modern fascism, and economic deception amidst the rise of Bitcoin.

Hosted on Acast. See acast.com/privacy for more information.

The Threat of Peak Centralisation with Mark Moss - WBD465 Feb 21, 2022

Show notes

Location: Los Angeles Date: Thursday 3rd February Project: Market Disrupters Live Role: Market Analyst

In the last show with Mark Moss, we discussed how society is currently at a rare confluence of 3 revolutionary cycles: political/social/cultural, technological, and financial. In this show, we expand on that thesis by discussing the ramifications of living in an age of great disruption. An age when the previous solid principles underpinning the organisation of operation of society are in flux.

Truly revolutionary questions that were assumed until recently to have been settled are now being seriously considered as being up for debate. What role, if any, should the state have? How should rules and regulations be determined, implemented, and policed? How can individuals act against the forces of centralization? Can we find truth in this post-fact world?

These questions are being debated as some believe monumental change within society is around the corner: we're at peak centralisation and could be approaching a 'Blow-Off Top'. Discordant forces will stretch and meld society into new shapes. Those not prepared will have their futures mapped out for them by others who are.

Those who are self-sufficient will be best placed to react to this changing world; Bitcoin is the means by which people will be able to have geographic freedom so they can escape coercion. Bitcoin is also the basis for helping like-minded groups to mould a new future.

In this interview, I talk to the serial entrepreneur and market analyst Mark Moss. We discuss peak centralization, the role of a state, the balkanization of society, the need for transparency and truth, and how Bitcoin enables people to free themselves from the tyranny of place.

Hosted on Acast. See acast.com/privacy for more information.

Can Bitcoin Save The American Dream? with Natalie Brunell - WBD464 Feb 19, 2022

Show notes

Location: Los Angeles Date: Thursday 3rd February Project: Coin Stories podcast Role: Journalist

The American Dream has enabled the US to act as a beacon to the world: freedom and opportunity are available to all who are willing to strive, sacrifice, and work hard. This ethos was a powerful soft weapon during the cold war, but it still resonates with people all around the world today. That's why the Green Card is the most sought-after immigrant visa in the world.

And yet, those living in the US today are struggling to experience the same chances and sense of fairness previous generations took for granted. Risk-taking, endeavour, playing by the rules - displaying these character traits is no longer a gateway to success; some are even starting to believe that those living by these standards are chumps.

The system seems just unjust; life is full of contradictions and hypocrisy. There are increasing restrictions on people's sovereignty, whilst those in power aren't playing by the same rules. At the same time, the rights of individuals are upheld in situations where their actions impact the wider society and where interventions and restrictions have sound justification.

Will Bitcoin help right the current economic wrongs?

In this interview, I talk to Natalie Brunell, a fellow podcaster who hosts Coin Stories. We discuss coming to America, uncovering a failing system through journalism, finding Bitcoin and hope, and developing a mission to fix things.

Hosted on Acast. See acast.com/privacy for more information.

Can Bitcoin Mining Save the Environment? with Troy Cross - WBD463 Feb 17, 2022

Show notes

Location: San Francisco Date: Tuesday 8th February Project: Bitcoin Policy Institute Role: Fellow

On both sides of the Atlantic, politicians and regulators are questioning the sustainability of Bitcoin mining. These positions knowingly or unknowingly use narratives and statistics that have been widely dispelled by authorities within our industry.

Bitcoin is cited as a major contributor to greenhouse gas emissions, ignoring the detrimental impact of the petrodollar and other institutionally accepted activities. Bitcoin transactions are disingenuously portrayed as being incredibly polluting; as Nic Carter stated "The question of Bitcoin's energy footprint is riven with misconceptions."

Usage of renewable power for Bitcoin mining is portrayed as being wasteful as though energy use is a zero-sum game, instead of Bitcoin being a flexible load facilitating increased investment and energy production.

Satoshi Nakamoto even foresaw energy use as being an issue. In August 2010 Satoshi posted "The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin is a net waste."

But, despite the obvious attributes of Bitcoin that mitigates its impacts, powerful stakeholders still use environmental FUD to undermine the industry. What if there was a way to explicitly make Bitcoin mining part of the ESG framework rather than having ESG weaponised against the industry? Such an idea would kick away the ladder for Bitcoin mining detractors. Meet Troy Cross.

In this interview, I talk to Troy Cross, a Fellow at the Bitcoin Policy Institute. We discuss his personal journey of reconciling Bitcoin's energy footprint, the environmental FUD used against Bitcoin, how Bitcoin mining mitigates climate change, and the game-changing idea to incentivise sustainable Bitcoin mining.

Hosted on Acast. See acast.com/privacy for more information.

Will Bitcoin End Central Banking? with Eric Yakes - WBD462 Feb 15, 2022

Show notes

Location: Los Angeles Date: Wednesday 2nd February Company: Independent Role: Author

The Bitcoin rabbit hole is a confusing, perplexing, and thoroughly exhilarating experience. It involves the dissolving of previous certainties and the discovery of a labyrinthine mass of revolutionary knowledge. It is a life-changing experience.

This journey necessitates one to consider profound and fundamental concepts that society has almost uniformly forgotten to question: what is the purpose of money, what is the best money, who decides this for us, what is money backed by? The process is like an awakening from a long and childish dream. The result is a realisation that the status quo should and can be changed.

Bitcoin is now ubiquitous; it is easy to forget that it is a nascent and rapidly evolving technology. Despite there being a growing library of valuable information by an illustrious collection of authors, those new to the subject often feel swamped. Particularly as there are factions within the community with sometimes conflicting views and opinions.

That is why it is valuable to have material written by people who have been on that journey of discovery, those who have had to unravel the twisted knot of diverse subjects that underpin Bitcoin: computer science, cryptography, economics, finance, banking, philosophy, civics, geopolitics, law. And perhaps most vitally, those able to provide a neutral position on Bitcoin.

In this interview, I talk to Eric Yakes, author of The 7th Property. We discuss the genesis of the book, the Federal Reserve, the role of libertarianism in our future, and the foundational and unique strengths of Bitcoin.

Hosted on Acast. See acast.com/privacy for more information.

Web3 Does Not Exist with American HODL & Junseth - WBD461 Feb 12, 2022

Show notes

Location: Los Angeles Date: Wednesday 2nd February Company: N/A Role: N/A

Web3 is a co-opted term that was originally used to describe an internet that gives users greater control over their privacy and data. It is now commonly referred to as the metaverse.

The metaverse, originally described in Neal Stephenson's Snow Crash, was a dystopian future that envisions a virtual reality-based successor to the internet. The metaverse has been picked up on by VCs and Silicon Valley and is now promising to revolutionise the way we interact with the internet taking advantage of NFTs and 'crypto'.

However, bitcoiners remain sceptical. Over the last 13 years, thousands of projects have come and gone, promising huge innovation with little to back it up, from altcoins that promise to be 'the new bitcoin' to narratives like 'blockchain, not bitcoin' and the ICO boom, and bust.

In this interview, American HODL and Junseth take aim at Web3, NFTs and the metaverse and discuss why they believe that it will not only fail but that it doesn't even exist in the first place.

Hosted on Acast. See acast.com/privacy for more information.

Orange Pilling the IMF with Jack Mallers - WBD460 Feb 09, 2022

Show notes

Location: Los Angeles Date: Tuesday 1st February Project: Strike Role: CEO

Over the past few years, Jack Mallers has made your "bank account speak bitcoin" with Strike, started the "pay me in Bitcoin" campaign, and was instrumental in onboarding an entire country on to Bitcoin, but he's only just getting started.

Bitcoin is an open monetary network that enables a free market for payments and unprecedented interoperability. With money moving at the speed of lightning on a level playing field, the money and payments industries are being disrupted at a staggering pace.

Now, calls are pouring in from massive players trying to understand how the world is changing. So who will Jack orange pill next?

In this interview, I talk to Jack Mallers, CEO of Strike. We discuss his interactions with the IMF, Facebook, Jeff Bezos, and Argentina, and the global implications of the Bitcoin network.

Hosted on Acast. See acast.com/privacy for more information.

Bitcoin & The Canadian Truckers with Greg Foss & NobodyCaribou - WBD459 Feb 07, 2022

Show notes

Location: Remote Date: Friday 4th February Project: @HondHondHodl

Covid-19 mandates have evolved across the world over the past few years. Such mandates involve limitations on what many previously assumed to be universal freedoms. Whilst restrictions were widely and voluntarily accepted in the early phases of the pandemic, people across the world are now starting to question their efficacy and fairness.

Rules imposed by bureaucrats are increasingly being viewed as myopic to wider societal impacts and seemingly slow to account for the latest science. This is resulting in growing dissent. The rejection of government-directed coronavirus measures is arguably most ardent when it affects people's livelihoods.

Canada in January imposed a new rule requiring that truckers must be vaccinated to cross the US-Canadian border. Given the geography in Canada, trucking invariably requires trips to and from the US. So, for unvaccinated truckers, this rule would effectively mean they couldn't work.

A resultant protest lit the flame for wider discontent about Covid-19 health restrictions. This rapidly spread such that a nationwide protest movement has been ignited, centred on the nation's capital Ottawa.

The two sides are becoming increasingly entrenched: truckers are preparing for a long period of resistance, whilst the government is increasingly using more draconian measures to break up the protest. The most contentious action, though, has been GoFundMe withholding millions of dollars raised for the truckers.

Bitcoin is now being used to support the truckers: the utility of uncensorable money has perhaps found its most important use case yet in a democratic state.

In this interview, I talk to Bitcoin Strategist Greg Foss, and NobodyCaribou who is documenting the growing trucker protest movement. We discuss the genesis of the protest, Canadian rights and freedoms, the importance of non-violent resistance, the scale of the movement, and how Bitcoin is a vital tool in this fight for freedom.

Hosted on Acast. See acast.com/privacy for more information.

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