4.8 • 1.6K Ratings
🗓️ 31 July 2025
⏱️ 3 minutes
🔗️ Recording | iTunes | RSS
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Episode 431 is the seventh episode in the Hundred Year Pivot podcast series. In it, Demetri Kofinas and Grant Williams speak with Edward Chancellor, a financial historian, award-winning journalist, and the author of “Devil Take the Hindmost: A History of Financial Speculation."
Eddie, Grant, and Demetri discuss how excessively interventionist monetary policies and widespread speculative excesses have prolonged the final phase of a “Debt Supercycle,” whose bursting will likely usher in a new era of financial repression, marked by increased capital controls, currency crises, heightened geopolitical risk, and social turmoil.
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Producer & Host: Demetri Kofinas
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Episode Recorded on 07/24/2025
Click on a timestamp to play from that location
0:00.0 | What's up, everybody? My name is Demetri Gaffinus, and you're listening to Hidden Forces, |
0:06.2 | a podcast that inspires investors, entrepreneurs, and everyday citizens to challenge consensus |
0:12.9 | narratives and learn how to think critically about the systems of power shaping our world. |
0:18.6 | What you're about to hear is the seventh episode in a podcast series |
0:22.0 | hosted by me and my co-host Grant Williams, titled The Hundred Year Pivot. In it, we speak with |
0:28.3 | some of the smartest and most plugged in people we know to help position ourselves, our |
0:33.0 | organizations, our families, and our portfolios for the once-in-a-century economic, political, and geopolitical |
0:40.4 | reordering that we believe is currently underway. In today's conversation, Grant and I speak with |
0:46.0 | financial historian and award-winning journalist Edward Chancellor. Edward is the author of Devil Take |
0:52.3 | the Hindmost, a famous book about the history of financial speculation |
0:56.3 | and is currently a columnist for Reuters breaking views and a contributor to many other publications, |
1:01.9 | including the Wall Street Journal, Money Week, New York Review of Books, and The Financial Times. |
1:07.5 | In this wide-ranging conversation, Eddie shares his perspective on how interest rates, monetary |
1:13.0 | policy, and speculative excesses have shaped our modern economies by providing an insightful |
1:18.5 | narrative that traces the evolution of money and finance from the period of the classical |
1:23.2 | gold standard to the rise of free-floating fiat currencies. |
1:27.2 | We also explore the concept of a debt super cycle and the potential consequences that may arise |
1:32.5 | from a generational reset, such as increased financial repression, capital controls, currency crises, |
1:38.5 | and geopolitical and social turmoil as the debt cycle reaches its climax. |
1:43.9 | If you want to access to this conversation, go to hiddenforces.io slash subscribe and join |
1:49.8 | our premium feed so you can listen to this episode and other subscriber-only content on your |
1:54.8 | mobile device using your favorite podcast app just like you're listening to this episode |
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