Bitcoin: The Great Disruption with Luke Gromen - WBD261
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 18 September 2020
⏱️ 73 minutes
🧾️ Download transcript
Summary
Location: Squadcast Date: Wednesday 9th September Company: FFTT, LLC Role: Founder
In 1971 Nixon announced that the US would sever all ties between the dollar and gold and would no longer convert dollars to gold at a fixed value of $35/oz, putting an end to any remnants of a gold standard and ushering in a new era in finance.
This new system led to decades of excessive risk-taking, cheap credit and questionable incentive structures. In 2008, the new system came crashing down when the US housing bubble burst and in turn, sent the entire world into the worst financial crisis since the great depression.
To manage the economic crash, central banks pushed quantitative easing to stimulate the economy, but now, 12 years later, the world's economy is again teetering on the edge.
The COVID-19 pandemic has highlighted the fragility of the global economy. With decades of currency debasement, investors are turning to scarce assets such as gold and Bitcoin to hedge the risk of inflation.
In this interview, I talk to macroeconomist and founder of FFTT, LLC Luke Gromen. We discuss the current macroeconomic climate, how the system that has been in place for the last 50 years is coming to an end and why we need Bitcoin.
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The system of the last 50 years is over. It hasn't worked. It has broken down. |
| 0:05.0 | Hello there from Bedford in the United Kingdom, |
| 0:09.0 | the Bitcoin Mecca of the world, how are you all. |
| 0:12.0 | Welcome to the what Bitcoin did |
| 0:13.1 | podcast which is brought to you by Krakhan the best place to buy sell |
| 0:16.2 | and trade Bitcoin I'm your host Peter McCormack and today I've got an |
| 0:19.5 | interview with macroeconomist Luke Groman but before that I got a message from my |
| 0:23.8 | amazing sponsors. So first up today we have BlockFi the future of |
| 0:27.5 | Bitcoin and financial services and with BlockFi you can open up an interest |
| 0:31.6 | account and start earning interest on your |
| 0:33.5 | Bitcoin. Now I am a customer. I love that my Bitcoin is working for me and that I |
| 0:38.5 | receive interest every month from BlockFi. But also with BlockFi you can use |
| 0:42.3 | your Bitcoin as collateral and take out a |
| 0:44.1 | USDA loan. You can also find your BlockFi account directly from your |
| 0:47.7 | Bitcoin wallet and with the BlockFi mobile app you can now fully manage your |
| 0:51.6 | account on the go. They have so much more coming this year and they are going to crush it. If you're interested in checking BlockFi out, I do recommend you do your own research, then head over to BlockFi.com, which is B-L-O-C-K-F-I-com. |
| 1:05.0 | Also, let's talk about Cracken, my favorite place for buying and selling |
| 1:09.6 | Bitcoin. I always use Cracken for buying and selling Bitcoin. Why? Because they are consistently rated the best and most secure |
| 1:17.9 | cryptocurrency exchange and security is really important to me. They also have the best in-class customer service, so whatever |
| 1:25.1 | issue I have, I know they will help me out. And if you want to start trading Bitcoin, they |
| 1:29.3 | have every tool you could possibly need. Whatever your level experience at |
| 1:33.7 | Krakhan.com it could not be easier to sign up to start trading |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Peter McCormack, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Peter McCormack and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.