Interview of William White

White’s career as an economist was with the Bank of Canada, the Bank of England, and the Bank of International Settlements. He offers valuable insights into today’s debt problems.

This interview by Alexej Jordanov of Gold Republic, who work with OMFIF, is well worth listening to for gaining insights into what must be increasingly worrying today’s central banks. He sees debt deflation undermining private sectors and hyperinflation, a conclusion with which is hard to disagree.

There is a wider point worth appreciating, particularly by those think that by their actions central bankers are ignoring reality. White, who was been at the very top of central banking for decades is not the only central banker who worries about the consequences of past policies — that is also my experience from interacting with these institutions.

In truth, it’s about the excessive creation of debt; a debt bubble which is the other side of today’s credit bubble. Debt deflation is matched by credit deflation; put another way the bubble being pricked.

“Former top central banker at BIS William White breaks down the dangerous consequences of decades of ultra-easy money. From exploding debt and central bank paralysis to inflationary threats, financial repression, and the return of gold—this conversation reveals why the global financial system is reaching a breaking point.

“White breaks down the growing risks of financial and fiscal dominance, the fragility of the current debt-laden system, and the historic forces driving us from an “age of plenty” to an “age of scarcity.” From malinvestment and financial repression to the rising role of gold and the BRICS monetary pivot, this episode offers a rare insider perspective on where the global economy is heading—and why we may already be past the tipping point.”