Max Keiser and Stacy Herbert explore what will happen when inflation hits “dangerous levels.” They talk with Alasdair Macleod of goldmoney.com about the US dollar, gold, and bitcoin.
“Central banks have created so much misery for all of us by transferring wealth, by debasing the currency,” says Macleod. Nevertheless, in a practical world, governments will continue to exist, and in order to exist they need financing, he adds.
According to Macleod, for governments to continue after a currency collapse, what they need to do is accept the fact that money has got to be decided not by them, but by the market. “It could be that the market decides that bitcoin is a favorable form of money compared with gold; we don’t know this for certain. All we can do is prognosticate.”
“The reason I’m suggesting that gold is likely to be the money of the future is not only has it always been the money of the past when everything fails, but central banks have it. It is the only means by which they can get that currency going again, so that government can continue,” he says.
For more stories on economy & finance visit RT’s business section