Is the Dollar Doomed? Bitcoin, Gold, and the Dollar Debt Spiral with Luke Gromen (WiM538)

The "What is Money?" Show

Robert Breedlove

Bitcoin, Breedlove, What Is Money, Investing, Rabbit Hole, Cryptocurrency, Money, Finance, Education, Robert Breedlove, History

4.8 • 710 Ratings

🗓️ 10 December 2024

⏱️ 180 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Luke Gromen joins me to discuss how money printing distorts the market process, how the US debt has spiraled out of control, the race between debasement and productivity, gold and the dollar endgame, Bitcoin and National security, and how to navigate the current macro environment. Luke Gromen is a macroeconomist and founder and president of Forest for the Trees, a research firm he started in 2014 specializing in global macroeconomic, thematic and sector trends.

Transcript

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0:00.0	Bitcoin. Who can't get it?
0:02.0	No, no.
0:04.0	The game theory has changed around this.
0:06.0	For national political stability, for bringing back the middle and working class,
0:09.0	for defense-based reestablishment, all of these things are pointing to a neutral reserve asset.
0:16.0	And then you go, okay, well, it's gold or it's Bitcoin.
0:19.0	Losses in Afghanistan, losses in Ukraine.
0:21.6	We're going to see a pullback of imperialism.
0:23.6	It's realism.
0:24.6	The United States is currently over $36 trillion in debt.
0:27.6	Where does it go and how does that end?
0:29.6	How can I afford to buy any of this stuff coming off the line?
0:31.6	I'm broke. You stole all my money.
0:34.6	So this is an existential issue for the country, basically.
0:38.3	Yes.
0:38.5	Like you can't impoverish people, you have to produce stuff, you have to be ready to defend.
0:42.4	Inflate or default?
0:43.7	Yeah.
0:44.4	The game theory is turned on its head.
0:46.5	Holy cow.
0:48.1	Bitcoin isn't a threat that it's rising.
0:50.5	It needs to go up faster.
	...

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