# 140 - The Future is Fiat | Noah Smith

*Author: Bankless*
*Published: Oct 17, 2022*
*Source: https://www.bankless.com/fr/140-the-future-is-fiat-noah-smith*

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In today's episode, we cover geopolitics in broad strokes—Noah thinks we're already at war in the form of an economic showdown between what he calls the New Allies and New Axis.

We also turn to crypto, where Noah gives his bull case while addressing some misconceptions he sees in the crypto community.

The sum of all of this is an episode title we thought we'd never see on Bankless—**The Future is Fiat**.

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### TIMESTAMPS:
0:00 Intro

6:00 Noah Smith Respects Nerds

11:00 The War Economy

19:20 The New Axis

23:30 Battle of the Titans

30:50 Different Capabilities

35:02 Why Does This Matter?

39:00 Taiwan

45:20 Sanctioning China

50:35 The Path to War

57:15 High Level Crypto

1:02:20 Crypto In Conflict

1:09:45 Weakening Nation States

1:15:40 Crypto Misconceptions

1:26:10 A New Economy

1:32:10 Ponzis

1:40:48 The Fate of the Dollar

1:45:25 Bullish Rabbits

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#### RESOURCES
- [Noah Smith](https://twitter.com/Noahpinion?s=20&t=kKYOtZ37UkLtwZ4WGmDT6Q)

- [Noahpinion](https://noahpinion.substack.com/)

- [Freedom's Forge](https://www.amazon.com/Freedoms-Forge-American-Business-Produced/dp/0812982045)

- **Noah’s Writing**

[The War Economy](https://noahpinion.substack.com/p/the-war-economy-sizing-up-the-new)

- [The Danger Zone](https://noahpinion.substack.com/p/book-review-danger-zone)

- [Could We Sanction China?](https://noahpinion.substack.com/p/could-we-sanction-china-if-we-had)

- [Blockchains, Dollarization, and Capital](https://noahpinion.substack.com/p/blockchains-dollarization-and-capital)

- [Room for One More Bubble](https://noahpinion.substack.com/p/i-think-bitcoin-has-room-for-one) 

- [Economic Misconceptions of the Crypto World](https://noahpinion.substack.com/p/economic-misconceptions-of-the-crypto)

- [Amway Culture](https://noahpinion.substack.com/p/is-web3-culture-similar-to-amway)

- [Central Bank Digital Currencies](https://noahpinion.substack.com/p/central-bank-digital-currencies-are)

- [NFTs Will Probably Be Back](https://noahpinion.substack.com/p/nfts-will-probably-be-back)

- [Beating Inflation](https://noahpinion.substack.com/p/how-much-will-beating-inflation-hurt)

- [No, America is Not Collapsing](https://noahpinion.substack.com/p/no-america-is-not-collapsing)

- [Techno-Optimism](https://noahpinion.substack.com/p/techno-optimism-for-2022)

- [Lovecraftian Intelligence](https://noahpinion.substack.com/p/lovecraftian-intelligence?sd=pf)

- [Sci-Fi Futures We Didn't Get](https://noahpinion.substack.com/p/the-sci-fi-futures-we-didnt-get)

- [New Industrialism](https://noahpinion.substack.com/p/a-new-industrialist-roundup)

- [Liberalism is Resilient](https://noahpinion.substack.com/p/liberalism-is-resilient)