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CoinDesk Podcast Network

MICHAEL CASEY: Disruption, Money and a World of Change, Feat. Niall Ferguson

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4.8689 Ratings

🗓️ 28 March 2020

⏱️ 40 minutes

🧾️ Download transcript

Summary

"...I think the right lesson to draw from all of this is that a global order needs to be based on a distributed operating system, not on a centralized architecture. And I think that applies not just in the realm of money but also across the board so that there is a greater capacity for local response than we currently have..."

CoinDesk's Michael Casey speaks with author, historian and Hoover Institution senior fellow Niall Ferguson about our disrupted world, inevitable crisis and what it could mean for money. 

Album Art Photo by Christine Roy on Unsplash

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Transcript

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0:51.2

If, let us say, the Federal Reserve, the European Central Bank, the Bank of England and the Bank of Japan,

0:58.0

just for the sake of argument, got together and said, we're going to create digital currency,

1:04.0

that that would create a whole set of questions about existing arrangements. It's far from clear to me that the United States

1:13.3

government would pool sovereignty in that way, because it would involve some sacrifice of the

1:20.6

dollar.

1:23.3

Hello everybody. I'm CoinDesk Chief Content Officer Michael Casey. I'm here with Neil Ferguson,

1:29.6

Milbank Family Senior Fellow at the Hoover Institution at Stanford. Neil, thank you very much for being with us on the program.

1:36.7

My pleasure.

1:37.8

To frame this in the context of coronavirus here. And the thing that I am so struck by is that it feels obviously very historic. I just saw it

1:48.8

a day that China has announced just momentarily, I think, that they're kicking out New York

1:53.3

Times journalists, they're kicking out Washington Post journalists and the Walsuit Journal journalists.

1:57.0

I think in response to Trump's sort of, you know, China virus comments or something.

...

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