I think what's missed is the ledger. The ledger is a decentralized record of any and all transactions. You can in theory see where any Bitcoin (or piece of a Bitcoin) is at any time. If you have a Bitcoin coming from a wallet that it shouldn't be coming from, the transfer will not happen because the miners (who are verifying transactions by mining) will not OK it. This makes the utility of stealing bitcoins little more than taking a second newspaper out of the bin. Even more, if you attempt to spend a stolen Bitcoin you would completely oust yourself as a thief in the system. It's frustrating that he just hand waved this away.

Great interview. My argument against the ability of CB's or Governments to iron out the business cycle is that cycles have existed since the creation of CB's - i.e. their existence has not necessarily worked in the past

Hmmm... Letters of Credit or Bills of Exchange? Very good interview otherwise - I think it's healthy to hear a well-reasoned dissonant view now and then, for example on BTCs, even if I don't necessarily agree with it.

Bitcoin will succeed if it is totally transparent to everyone including governments. Bitcoin's integrity will separate it from bearer bonds, money, or gold that are constantly manipulated. Interesting article - New Yorker 5/30/16 The Bank Robber. Good luck Bitcoin.

Smart guy but he is way off base thinking that govt waste and inefficiency is an acceptable normal we must accept

Since central bankers continue to pull forward economic growth to the present, what does this imply for future real economic growth? Will we simply continue to slog through? And will this increase dependency on central bankers or will Central Banker omnipotence break?

The law behind bitcoin as a fatal flaw; the not so unintended consequences of ogv actions to protect investors (again). Brilliant insight, clarity, and brevity. Thinking muscle sputtering into gear.

If trying to run the US govt as a business is a bad idea, how much/in what ways would it be worse than the last 5+ decades of political "management "? Which has dug the mile deep hole we are now in.

Ben Hunt is a RealVision great. I look forward to Epsilon Theory ever since his first intereview. Thanks guys

But isn't deflation a central banker's dream? It means you can only print more. JPY now strengthening on BOJ's printing. So let's continue until BOJ owns 100% of JGB. One problem "solved"!

Le Penn & Trump are 2 electorate driven black swans that will shake things up. Brexit reality or even a close vote, would be another. The masses are getting very restless; status quo can't survive.

Enjoyed interview immensely. I think Ben believes it is different this time and government control will win out. I fear the black swans will trash that feeling soon enough.....

Smart guy. However, think he is totally off-base where he espouses that governments are unlike corporations. That's why we are in the mess we are in today. Can't pay the debt, must go BK.

It's shameful to state your negative views on Trump when the long standing leaders have pumped us into this horrible situation. Pendulum needs to swing back hard to force change. Your job is at risk

The Road To Hell is paved with good intentions!

The 'markets as a utility' concept is fascinating. What a mess this has become

No job lost but the US has 47 million people on welfare. No clue what the middle class is enduring

Wonderful Ben, as always. "Stability", no matter how highly sought, always leads to.... instability. Talk about unintended consequences!

Ben is V worth reading/hearing. Topics need more time? Some scary ideas in there. The huge ungranted power to keep things 'level' maybe for v long time vs political change of unknowable consequence

Cashless economies should not be dismissed out of hand. Interviews on pro and cons. What is happening in Denmark & Sweden with gold, silver Bitcoins or when larger notes eliminated in cash economies?

I don't see hipsters using bitcoin.

I doubt the Gov will provide anymore "protection" for my stolen $100 bills than for my stolen bitcoins.

This guy makes Hugh Hendry look humble

Broad weighted USD is still 24%+ since 2014, a substantial decline? Industrial Priduction y/y is now negative, never been negative since 1920 without recession!