Episode 80: Andy Duncan talks to Jeff Berwick, founder of The Dollar Vigilante, CEO of TDV Media & Services, and the host of Anarchast. They discuss the current state of global finance and the chances of an upcoming paper money collapse.
Berwick pays particular attention to the decline of the United States, and why this decline will continue in a debt-fuelled downward cycle. He sees major inflation as the only way the current financial system can continue, but that this will eventually end in hyperinflation in a few years’ time. He doesn’t think that the Basel III zero-risk rating of gold – taking effect from January 1 – will have much of an impact on the gold market.
They discuss how individuals can protect themselves over the next few years, if governments start to institute capital controls and other measures to defend the current fiat money system, and how private enterprise monies may arise on the other side of a great financial transition. Berwick further discusses how gold and silver may become the major private monies, ahead of systems such as BitCoin.
They conclude with a discussion Mr Berwick’s creation of a modern-day “Galt’s Gulch” in Chile, for liberty-minded individuals to consider moving to, and Jeff’s predictions of where the “black financial swans” circulating around the western world will first land.
This podcast was recorded on 4 December 2012.