The Money Revolution with Raoul Pal - WBD275
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 3 November 2020
⏱️ 65 minutes
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Summary
Location: Squadcast Date: Thursday 29th October Company: Real Vision Role: Co-Founder & CEO
The Bretton Woods agreement was created in 1944, following the end of the Second World War. The agreement pegged the US Dollar to gold, with other nations pegging their currencies to the dollar. The agreement was an attempt to stabilise economies after the devastation of the war.
The IMF recently released an article in which they called the economic impact of the COVID-19 pandemic a "new Bretton Woods moment." Suggesting that the pandemic's effect on the economy and the substantial fiscal stimulus required may be too hard to come back from without change.
The IMF announcement happened in the shadow of central banks around the world looking more and more at issuing their digital currencies. These Central Bank Digital Currencies, known as CBDCs, will give more power to the state over the control and flow of money. While this control does offer some benefits, they do also increase surveillance and reduce monetary freedoms.
Are we in the midst of a revolution in money? And what does it mean for Bitcoin?
In this interview, I am joined by Raoul Pal, macroeconomist and co-founder & CEO of Real Vision. We discuss the IMF considering a new Bretton Woods type system, central banks issuing digital currencies and what this means for Bitcoin.
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Transcript
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| 0:00.0 | What they're telling you is we want to do with Breton Woods where we can all agree to |
| 0:05.1 | stabilize our currencies and do massive printing. |
| 0:07.6 | Christ, if you're after a better case for Bitcoin, I've never heard of one. |
| 0:11.6 | Hello there from Bedford in the United Kingdom. |
| 0:15.0 | How are you all? |
| 0:16.0 | And welcome to the What Bitcoin did podcast, |
| 0:18.0 | which is brought to you by The Mighty Cracken, |
| 0:20.0 | the best place to buy, sell and trade Bitcoin. |
| 0:22.0 | I'm your host, Peter McCormack, and today I've got an interview with Real Vision co-founder Rao |
| 0:27.3 | but before that I do have a message from my amazing sponsors. So first up today we're going to talk about Karsa who are the best in |
| 0:35.8 | Bitcoin security and quite interestingly I've had quite a few people reaching out to |
| 0:39.7 | me and asking me about Karsa recently you know, with Bitcoin performing so well, over |
| 0:43.9 | thirteen and a half thousand dollars and everything looking like we might have a |
| 0:47.5 | ball run soon. I think some of you are starting to think about your security and |
| 0:51.0 | think about this in advance, which is a good thing thing I left it so long for me as about a year |
| 0:55.4 | when I was thinking about I needed to get my shit together so I did reach out to |
| 0:58.9 | Karsa a good few months ago now I reached out to Nick and I reached out to Lop and said listen I need |
| 1:03.6 | to get this sorted and they help set me up and ever since then I've just had so |
| 1:07.4 | much peace of mind knowing that my Bitcoin is protected not only from |
| 1:12.0 | hackers and in-person attacks and device failures but from my own |
| 1:15.6 | personal mistakes which we know can happen. Now with Khasa being so bad as they do have a product for every |
| 1:22.1 | Bitcoin out there. |
... |
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