Bitcoin and the U.S. Fiscal Reckoning with Avik Roy - WBD409

Location: Austin, TX
Date: Thursday 7th October
Company: Forbes
Role: Editor


In 1971, Richard Nixon ended Bretton Woods, severing the entire
global monetary system from its anchor, gold. Governments around
the world have since been able to create new money and increase
debt virtually without restriction.


Fifty years later, and there’s no political will to slow down
spending. Instead, new money is created to pay for new spending,
and the numbers involved get larger and larger.


Governments can issue new currency to service their own debt, but
the cycle of increasing deficit spending and monetary inflation
may already be leading to spiralling debt and runaway prices with
no obvious way out.


In this interview, I talk to Avik Roy, Editor at Forbes. We
discuss the growing problems with debt and inflation, healthcare,
and central bank digital currencies.