The Central Bank Digital Currency Is Banned, but a Private Version Has Arrived | Patrick Wood
From Flashlights · 01:33:10
Show by Flashlights Podcast
"A programmable dollar is water flowing through a pipe system that somebody else built. With valves that somebody else controls." A Three-Part Interview with Patrick Wood about his book "Crucible of Tokens" This is the first of a three-part interview with Patrick Wood about his new book "Crucible of Tokens," released in September 2026. According to Larry Fink, CEO of BlackRock, everything that can be tokenized will be tokenized. But what is tokenization? And what does it mean to tokenize money or gold or shares? What does it mean to tokenize houses, hotels and nature itself? What does this mean for your life, your money and your assets? According to Patrick Wood, the founder and editor-in-chief of Technocracy News, the world's money and the world's assets are in the process of being turned into digital tokens. Both layers, the money layer and the things layer, are being simultaneously tokenized. Our current debt based system, Wood believes, is marked for death and will sooner or later be succeeded by this new asset based system. Who is building the system, how they are building it and why they are building it are the topics we discuss in the three parts of our interview. CHAPTERS 00:05 Three Books in Eleven Months 02:33 A Book That Comes With a Song 09:53 What Tokenization Is 12:05 The Coat-Check Analogy 17:51 Losing the Title to Your Property 19:56 Tokenized Stocks and Gold 23:14 Two Layers: Things and Money 27:32 Stablecoins as a Private CBDC 29:45 Why Not Just Use the Dollar? 33:31 Why the Key Is Shiny 33:48 The Home Equity Token Offer 38:04 The Programmable Dollar 40:13 Terms of Service and the Starlink Cutoff 45:05 What Makes a Stablecoin Worth a Dollar? 46:36 Captive Buyers of US Debt 50:34 From a Debt System to an Asset System 51:27 Prices Set by Algorithm 53:08 Technocracy's 1930s Roots 57:16 What a Debt Collapse Could Look Like 1:00:10 Why Stablecoins Pay No Interest 1:03:17 Moving From Stablecoins Into Asset Tokens 1:05:15 Banks Switch Sides 1:09:11 What a Unified Ledger Is 1:14:04 How Banks Still Take Their Fees 1:15:52 The Role of Central Banks 1:18:16 Who Controls the Ledger 1:20:18 AI Capability Keeps Doubling 1:22:29 The Technocrats and IBM 1:23:38 The Shiny Key Is Not Real 1:24:58 Locked Out of Your Apartment 1:28:08 Smart Contracts, Subscriptions, and Kill Switches 1:30:01 What Comes in Part Two RESOURCES Crucible of Tokens Song: https://www.youtube.com/watch?v=v6gq-N-osNU Technocracy News and Trends Patrick Wood: Crucible of Tokens Patrick Wood: The New Economics of Technocracy: You Will Own Nothing Patrick Wood: The Final Betrayal: How Technocracy Destroyed America
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