Debt, Deficit, Spending & Tax with Dominic Frisby - WBD598
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 28 December 2022
⏱️ 89 minutes
🧾️ Download transcript
Summary
Dominic Frisby is a British author, comedian, voice actor and musical curator. He also produces one of the top 20 financial substacks. In this interview, we discuss a range of issues highlighting how dire our current economic situation is, and if sound money and libertarianism are the solutions, the responsibilities this imposes on us as free citizens.
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The global economy is in serious trouble. Our guests know it. Regular listeners know it. Yet many are ignorant of the dangerous predicament we're in. This is despite significant evidence of the coming crisis being available to anyone wishing to look. Portents of things to come abound: rising deficits, unsustainable debt, high inflation and crumbling public services. And there is no political incentive to resolve the situation.
This does not mean that governments aren't preparing. For starters, there are tremors in the bedrock of the global reserve currency system. China is discreetly hoarding gold. Russia is seeking to utilize digital currencies. The number of countries adding their name to a new BRICS' based reserve system is growing. The multi-polar world is being built.
Then there are the less explicit but equally concerning plans in the traditionally democratic west. If, as expected, the global economy significantly weakens, the public response could destabilise society. There is always more than one path out of any situation, but authoritarian policies are more appealing to those seeking to maintain control.
Implementation of schemes designed to control society will require mendacious actions. CBDCs will be sold as benign technology advancements enabling more efficient payment mechanisms between the state and the individual. The risks are clear. Fundamentally, our freedoms will depend on the monetary basis we adopt. These are crucial times. It's up to us to continue to raise the alarm.
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Transcript
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| 0:00.0 | In a libertarian society where the government doesn't do anything, the responsibility falls on citizens to do stuff. |
| 0:09.0 | At the moment, that responsibility is the states. |
| 0:12.0 | So, you know know with freedom comes |
| 0:13.9 | responsibility. Hello there how are you all are you all doing well excuse me I'm a |
| 0:18.8 | little bit croaky we were back in football yesterday and I was screaming the |
| 0:21.9 | way head off like an idiot. |
| 0:23.2 | So yeah, I'm a little bit croaky today, but I hope you all had a good Christmas, hope you took some time off. |
| 0:28.0 | I did. |
| 0:29.0 | It's some nice time with the family. |
| 0:30.7 | Chilled out a bit, eat some good food, drink far too much. And we're coming to the end of the year. It's a lot to reflect on this year. It's been a really strange year. It started so well and lots of weird stuff's happened. But I'm going to be reflecting on that over the next few shows and thinking about |
| 0:43.0 | 2023. But anyway welcome to the What Bitcoin did podcast which is brought to you |
| 0:47.0 | by Gemini the only place I'm using for buying Bitcoin. I'm your host Peter |
| 0:50.6 | McCormack and today I've got my buddy Dominic Frisbee back on the show. |
| 0:54.6 | Now I was in London recently making a runner shows and whenever I have a chance to get Dominic |
| 0:58.0 | I get him on because I love talking to Dominic. |
| 1:01.0 | He's got such a broad perspective on so many topics that are relevant to us as |
| 1:04.5 | Bitcoiners and also he was recently in my film I made. I made a film about |
| 1:08.4 | inflation that's up on my YouTube. I think that's linked in the show note so if |
| 1:11.5 | you don't check that out if you can check that out |
| 1:13.0 | but yes it was great to get Dominic Khan we talked about some musical he's been |
| 1:17.7 | working on which is super interesting but we also talked about deficit spending |
| 1:20.8 | obviously whenever I talked to Dominic we we're going to get into tax. |
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