Why a Currency Devaluation is Likely with Lyn Alden - WBD262
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 22 September 2020
⏱️ 68 minutes
🧾️ Download transcript
Summary
Location: Squadcast Date: Monday 21st September Company: lynalden.com Role: Macroeconomist
When COVID-19 struck, governments across the world implemented unprecedented stimulus packages to help what were already fragile economies, which had never fully recovered from the 2008 global financial crisis.
While the economy moves in short-term 5-10 year cycles, a larger multi-decade cycle appears to be coming to an end. As governments pursue further rounds of quantitive easing, debt to GDP levels are heading towards what Lyn calls the event horizon, where debt to GDP is over 130% and currency devaluation is the most likely outcome.
Holding cash through a currency devaluation risks losing purchasing power as governments increase the money supply to service debt, thus scarce assets such as gold and Bitcoin are a safe haven.
In this interview, I talk to Lyn Alden, a macroeconomist and founder of Lyn Alden Investment Strategy. We discuss the current state of the economy, monetary and fiscal policy debt cycles and if we should expect currency devaluation.
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Transcript
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| 0:05.2 | Bitcoin. |
| 0:06.2 | Hello there from Bedford, the Bitcoin Mecca of the world. |
| 0:09.8 | How are you all? |
| 0:10.8 | Welcome to the What Bitcoin did podcast which is brought to you by |
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| 0:16.6 | McCormack and today I've got an interview with macroeconomist Lynn Alden |
| 0:20.7 | where we discuss why a currency devaluation is likely. |
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