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Erik Townsend – Global Macro Series – 23rd July 2020

Todays’ guest is Erik Townsend, host of the Macro voices podcast. Erik has an unusual background, as he had a very successful career as a technology entrepreneur before turning his hand to commodity trading. His background gives him a different perspective to many in the financial world, as we discovered in our conversation. Our discussion explored the possible consequences of the action taken by central banks in the last and current crisis; including rampant inflation, social unrest, and the overthrow of the dollar as the worlds reserve currency. As Erik said towards the end of our conversation “Put your seatbelt on, there could be some rough turbulence ahead”!

Topics Discussed in this Episode

  • MMT
  • Inflation outlook & inflation hedging
  • QE

"Most of that money that was conjured out of thin air by central banks didn't go to Main Street to provide more money in the pocket of the average consumer, it went to put more money in the pocket of the average investment banker to buy more assets."

  • China & Russia

“If you are China and Russia, first of all, you don't care about votes because you rule through fear and intimidation, not through democracy. What you care about is shifting power from the west back to the east.”

  • Civil unrest & revolution

"The current system, which is more cronyism than capitalism, the people of the world are pissed off. They're sick of it. I think that what we'll see over the next ten years is a major change."

  • Digital global reserve currency

" I think that we'll eventually see the emergence of a digital currency that really gives the U.S. dollar a run for its money for the title of Global Reserve Currency. That's going to be what changes the Fed's ability to get away with what it has been doing."

  • Coronavirus

Links

Catch up with Erik Townsend and learn more about his work:

MacroVoices
Book: Beyond Blockchain


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