009: Naomi Brockwell (Bitcoin Girl) on Bitcoins, Liberty, Government and Fiat Currency.

Naomi Brockwell is the always effervescent face of Bitcoin Girl She is an opera singer, film-maker and actress, and studied commerce at the University of Western Australia. Currently residing in New York, Naomi also runs her own company Rainsworth Productions and is a fellow at The Moving Picture Institute. Naomi speaks five languages, plays six musical instruments and, of course, is a gold medal-winning Irish dancer. Naomi is on the Advisory Council of the Mannkal Economic Education Foundation.

Economic Themes:

In this interview, Naomi mentions and discusses: bitcoins, crypto-currencies, monetary policy, inflation, fiat currency, fractional reserve banking, central banks, living standards,  international trade, negative externalities, unintended consequences, equilibrium, supply and demand.

Economists and Economic Schools:

In this interview, Naomi mentions: Victor Niederhoffer, Gene Epstein, Murray Rothbard, Jean-Baptiste Say, Ludwig von Mises, Friedrich Hayek, Carl Menger, Erik Voorheese, Paul Krugman, Austrian economics, Libertarianism, Keynesian economics and Hunter Lewis.

Naomi’s Passions:

Economics, Film, Dance and Opera Singing.

Naomi’s Affirmations/Mantra:

“I like people who are inspiring and I like reading their biographies” – Naomi Brockwell

“We really underestimate what we can achieve and if we remember that so much more is possible than we may think, then that’s a good way to live. It encourages you to press your boundaries and explore new horizons. Seek what your potential is, really try to fulfil your potential.” – Naomi Brockwell

Naomi’s Influencers:

Gene Epstein, Murray Rothbard and Georgia Hilton of The Moving Picture Institute

Exclusive News Announced on the Economic Rockstar Podcast:

Naomi is writing a FUN and ACADEMIC book which will be released soon.

Find Out:

• what Naomi’s two favorite drinks are – they’re Irish by the way!

• and watch Naomi’s video ‘Bitcoin Girl’ (see below), made with The Moving Picture Institute, in which she is featured.

• what began Naomi’s passion for economics after staying in New York City to study and train with other great opera singers.

• how a discussion on the housing crisis and the housing bubble at Junto in New York City inspired Naomi to read economics.

• how a chance email to Gene Epstein of Barron’s developed a passion for Austrian and Libertarian economics.

• Naomi’s shared views with Gene on educating people in economics even if they disagree on some of the thinking.

• why Naomi questions the foundation of fiat money after reading Rothbard.

• why Naomi believes that the private sector can manage money better than the government.

• why bitcoin is used voluntarily with no coercion.

• what is a virtual or crypto-currency and how does it work when there is no physical coin to use.

• what excites Naomi about Bitcoin and why, as Bitcoin Girl, she is becoming synonymous with Bitcoin.

• what cryptography is and what it has to do with Bitcoin.

• the difference between fractional reserve banking and how bitcoin operates.

• what scares Naomi when she requested her Australian bank to transfer her own money into a Bitstamp account.

• about Naomi’s thoughts on inflation and fiat currencies.

• why Naomi believes that Bitcoin will take many people out of poverty and how it will benefit the 2.5 billion people that are un-bankable.

• why Bitcoin owners have a right to privacy, while owners of fiat money run the risk of having their identity and privacy hacked.

• why American venture capital investor Tim Draper bought up Bitcoins from the Silk Road auction.

• where venture capital money is going in relation to Bitcoin.

• why governments and central banks have a vested interest to make Bitcoin obsolete.

• about the opportunities and the jobs being created by the Bitcoin industry.

• why bitcoins are safe from government interference and control.

• why Naomi thinks Uber and AirBnB should follow the decentralized model of Bitcoin.

• if Bitcoin is a buying opportunity.

• who is Satoshi Nakamoto (or maybe not!).

• what Naomi was doing in a World War II submarine

Advice:

On Bitcoins:

Which is Safer – Your details with J.P. Morgan or a Bitcoin wallet?

It’s just as easy to get access to a persons bitcoin if they have access to the key as it is to get into someones house if you get access to their key. It’s very much the same issue. However, the issue I have with J.P. Morgan is that they take all of your private information. So identity fraud can ruin a persons life.

When a person hacks into my Bitcoin account, first of all it’s up to me to decide how I want to secure that. There are incredible secure ways that I can use to protect my Bitcoins.

There are no personal details attached to that money. There are no names, no phone numbers and no addresses – just ones and zeros.

If someone hacks into J.P. Morgan, they steal everything about me. That is really, really scary and that is far more severe than any Bitcoin hacking.

With Bitcoin, it’s all up to you how you want to safe-guard your property. There are paper wallets.

Venture capital investment is going to Bitcoin entrepreneurs who are improving the Bitcoin infrastructure.

There are going to be scammers just as there are in any other industry.

About Fiat Currency:

“As long as my money stays in an organisation that can be coerced by government or can play by its own rules, I don’t have control over my own money. That’s a scary thought. My instinct is to get my money out of that system as fast as I can so that I can regain the control over where I want to spend my own money” – Naomi Brockwell.

Inflation is a secret tax that the government didn’t need approval for. There is absolutely no sane reason why any person should accept money from someone that they know will be worth less the next day. It’s possibly the biggest scam ever created.

On Sensationalist News Stories on Bitcoins:

Every second week someone is putting out a report – it’s usually Paul Krugman that says ‘Bitcoin is finally dead’ – Naomi Brockwell

Personal Habits:

• Naomi subscribes to Louise Hay’s Daily Affirmation

• Naomi and Gene Epstein run an Austrian economics reading group together.

Takeaway:

Economics is just an incredible way of helping the less fortunate areas of society, of helping people out of poverty, of helping the unrepresented, people being persecuted by government. Economic, if you really understand it, it provides all of these answers. With economics, you could do a lot more to help people.

Recommended Books:

• What Has the Government Done to Our Money by Murray Rothbard
• Money: How the Destruction of the Dollar Threatens the Global Economy – and What We Can Do About It by Steve Forbes
• The Financial Crisis and the Free Market Cure: Why Pure Capitalism is the World Economy’s Only Hope by John Allison
• Where Keynes Went Wrong: And Why World Governments Keep CreatingInflation, Bubbles, and Busts by Hunter Lewis

Favorite Internet Resources:

• On Life and Liberty by Erik Voorheese
• The Moving Picture Institute for FREE movies.
• Liberty.me

Where To Find Naomi Brockwell:

• Websites: naomibrockwell.com and bitcoingirl.com
• Moving Picture Institute

Podcast: Play in new window | Download