What Bitcoin Did
What Bitcoin Did
Danny Knowles
The Biggest Lie in Economics | Peter St Onge
1 hour 11 minutes Posted Sep 24, 2026 at 4:00 pm.
Intro to Austrian economics with Peter St. Onge
The Fed, inflation, and deflation mechanics
Natural interest rates and government debt
The business cycle and the myth of liquidation
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1:11:45
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Show notes

“You don’t need inflation for anything whatsoever. It’s essentially a counterfeiting cartel.”

Peter St Onge returns to discuss why he believes 2% inflation is a scam, how central banks transfer wealth from savers to governments and Wall Street, and why technological progress should be making life cheaper.

We also get into Austrian economics, his argument that the Fed causes the recessions it then tries to fix, and America’s growing debt problem. Peter explains why he thinks the AI bubble still has room to run, how he uses Bitcoin as a place to park profits, and what could bring money back from AI into Bitcoin.

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