The Money Revolution with Raoul Pal

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“If what they’re telling you is they want to do a Bretton Woods, where we can all agree to stabilise our currencies and do massive printing… christ, if you’re after a better case for Bitcoin, I’ve never heard of one.”
— Raoul Pal

SHOW DESCRIPTION

Location: Squadcast
Date: Thursday 29th October
Company: Real Vision
Role: Co-Founder & CEO

The Bretton Woods agreement was created in 1944, following the end of the Second World War. The agreement pegged the US Dollar to gold, with other nations pegging their currencies to the dollar. The agreement was an attempt to stabilise economies after the devastation of the war.

The IMF recently released an article in which they called the economic impact of the COVID-19 pandemic a “new Bretton Woods moment.” Suggesting that the pandemic’s effect on the economy and the substantial fiscal stimulus required may be too hard to come back from without change.

The IMF announcement happened in the shadow of central banks around the world looking more and more at issuing their digital currencies. These Central Bank Digital Currencies, known as CBDCs, will give more power to the state over the control and flow of money. While this control does offer some benefits, they do also increase surveillance and reduce monetary freedoms.

Are we in the midst of a revolution in money? And what does it mean for Bitcoin? 

In this interview, I am joined by Raoul Pal, macroeconomist and co-founder & CEO of Real Vision. We discuss the IMF considering a new Bretton Woods type system, central banks issuing digital currencies and what this means for Bitcoin.

TIMESTAMPS

00:05:14: Introductions
00:06:06: The IMF considering a new "Bretton Woods"
00:09:36: Understanding how the USD price affects other global currencies
00:12:01: Impacts of a global debasement of currencies
00:17:48: A bit out inflation and deflation
00:22:43: Universal Basic Income
00:25:15: Raoul discusses tokenisation
00:31:43: The pros and cons of central bank digital currencies
00:36:49: How to implement the CBDC
00:43:22: Referencing Michael Saylor
00:46:14: Macro and crypto worlds merging
00:48:32: Tokenisation
00:53:22: Fragmentation of society
00:59:58: Final comments

 

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SHOW NOTES

PodcastPeter McCormack