Author and former City investment manager Detlev Schlichter talks to the GoldMoney Foundation’s Dominic Frisby about the death of our current monetary system, and how countries like the USA and Britain are drifting towards currency crises.As Detlev points out, current central bank policy is being driven by political expediency and the desire to avoid the kinds of tough fiscal measures that would be unpopular with electorates. He points out that money has become politicised, and that in this environment, central bankers find it next to impossible – if they want to keep their jobs – to resist the siren voices calling for more stimulus, easy money, and weaker currencies.
Dominic and Detlev discuss the possible social effects of runaway inflation, and how this could sadly lead to a rise in political extremism, and increasingly heavy-handed and draconian restrictions on political and financial freedom on the part of governments.
Though he says that developed nations all over the world will be affected by currency turmoil, Detlev reserves particular comment for the state of the United Kingdom – his adopted home – noting that it is the most highly leveraged major economy in the world.
Click on the following link to order Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary Breakdown by Detlev Schlichter.
This podcast was recorded on 18 July 2012.
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Download audio file: Detlev Schlichter on the coming paper money collapseSource: Detlev Schlichter on the coming paper money collapse
