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Inflation is proving stickier than anyone would have hoped. Lyn Alden, the author of Broken Money: Why Our Financial System Is Failing Us and How We Can Make It Better and my guest today, offers a cogent explanation of why, likening it to the fiscal-driven inflation of the 1940s.
Lyn explains how the pandemic-era fiscal stimulus continues to affect our economy, along with increasing geopolitical instability and the runaway federal deficit. We also discuss bitcoin’s special role in emerging markets, vulnerabilities in our banking system, and the problem with India’s central bank digital currency.
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Time stamps:
00:00 - Introduction
07:35 - How the deficit is accelerating
15:05 - The evolution of every fiat currency
22:31 - Digital bank runs
32:33 - Taxation of crypto and capital controls
36:26 - India’s central bank digital currency
41:21 - How traceable is bitcoin?
45:31 - How we’ll reset government debt
50:13 - Where to invest now