

Ep.127 Real Conversations → Gold, Bitcoin, and the Decline of Fiat Money w/ Daniel Lacalle, Chief Economist, Tressis
7 snips Jul 2, 2025
Daniel Lacalle, Chief Economist at Tressis, dives into the crumbling trust in fiat currencies as debt and inflation rise globally. He discusses the pivotal roles of gold and Bitcoin as decentralized alternatives that offer real value in a turbulent market. Lacalle explores how central banks' policies have led to instability and the potential for Bitcoin to reshape monetary policy. The conversation touches on the historical evolution of money, the implications of financial mistrust, and the generational perspectives on investing in this changing landscape.
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Currencies Losing Reserve Status
- Developed economy currencies are losing their status as global reserve assets, shifting central banks' reserves towards gold.
- This indicates a fundamental erosion in trust and purchasing power of fiat currencies relative to gold.
Fed Diverges from Peers
- Federal Reserve policy diverges sharply from other major central banks, disrupting historical coordination.
- This divergence drives market shifts favoring euros and pounds over U.S. dollars currently.
Gold and Bitcoin as Fiscal Checks
- Gold and Bitcoin serve as functional limits against unchecked government fiscal excess, unlike politicized central banks.
- They provide alternatives as governments lose bond-buying support from global central banks.