Inflation & the Role of Bitcoin with Steven McClurg

 
 
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“If the government is printing 5% more dollars and they’re using that money to do things, they have essentially taxed you with the money that you already have without you knowing it.”
— Steven McClurg

SHOW DESCRIPTION

Location: Nashville
Date: Wednesday 29th September
Company: Valkyrie Investments Inc
Role: Co-Founder

Mainstream economists consider a benchmark rate of 1-3% price inflation optimal to promote consumption and economic growth. However, as prices rise, savers lose purchasing power, and asset holders increase their net worth.

Over the last 18 months, more than $5 trillion dollars have been created in the US alone, and legislation that would spend over $3 trillion more is under consideration. This increasing supply of money is driving prices higher.

Today, Consumer Price Inflation has sustained a 30-year high of over 5%, and it may be threatening to go higher.

So what happens next, and how does Bitcoin fit in?

In this interview I talk to Steven McClurg, Co-Founder of Valkyrie Investments. We discuss the problems of rising inflation, fragility in equities and bonds, and if Bitcoin can serve as a hedge.

TIMESTAMPS

00:02:51: Introductions
00:06:49: Housing
00:11:47: Inflation is a tax on the dollar
00:14:27: The real cost of bonds
00:20:40: Evergrande
00:22:28: Pensions
00:29:14: Unemployment and staff shortages
00:36:31: Interest rates
00:41:44: Worst-case scenarios
00:45:00: The role of Bitcoin for the state
00:49:48: Threat of impending currency wars
00:55:18: Fear of a world gone mad
01:03:13: Final comments

 

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SHOW NOTES

PodcastPeter McCormack