Pasha Roberts and Alasdair Macleod

Pasha Roberts, producer of the Silver Circle movie, and the GoldMoney Foundation's Alasdair Macleod talk about the economic outlook and what the prospects are for silver's use as an alternative currency.

The Silver Circle is an animated fictional film centred around an economic collapse in the US and the emergence of an alternative silver currency. Pasha's goal is to provide an educational message about the nature of money, debt and the economy. The movie will be released in late summer of this year.

The plot is set in 2019, in a world where the US price level has increased 20-fold, which leads to the emergence of an underground silver currency. The movie shows the impact of inflation and how people exchange their pay cheques for silver as it holds its value much better than Federal Reserve notes.

The film producers have also designed 1-ounce and 1/10th ounce silver coins that are used as currency in the movie. He explains that some traders in New Hampshire are now accepting these coins as legal tender.

At university Roberts was taught neo-classical economics, but he believes that Austrian economics provides the best lessons in how the economy really works. He is attracted to the idea that money can only last, when it's chosen by the people -- a sentiment that he hopes the Silver Circle promotes. He believes that competing currencies could be a good way to transition towards a better monetary system.

This podcast was recorded on May16 2012 at the Hard Assets Investment Conference in New York.