Interview with Monetary Metals
Ben Nadelstein and I cover many topics, focusing on the true role of gold and why the credit-based fiat currency system has run its course.
“The global financial system is cracking—and few people understand just how fragile it really is. In this episode, Alasdair Macleod returns to expose the truth behind the dollar’s decline, the unstoppable expansion of credit, and the quiet accumulation of gold by BRICS nations preparing for a post-dollar world.
“We dive deep into why gold is not just a hedge—but the foundation of final settlement—and why the current system, backed by $130 trillion in unpayable obligations, is already showing signs of collapse. Alasdair explains how credit bubbles form, why central banks are trapped, and how fiat currencies inevitably self-destruct under the weight of their own promises.
“This isn’t about fear. It’s about understanding the monetary reality most investors are ignoring. If you own dollars, stocks, bonds, or even real estate, this conversation will change how you think about risk, value, and what comes next. Watch the full episode and learn how to position yourself before the system breaks.”
Chapters
0:00 Introductions 2:46 Influence of Trump and Fed on dollar and inflation 5:16 Credit bubble risks and consequences of weaker dollar 6:49 Trade policy backlash and global economic shifts 8:19 India-China relations and de-dollarization moves 9:08 China’s plans for Bretton Woods version two with yuan 10:19 Scale of dollar assets held abroad and repatriation risks 11:14 Lower dollar’s inflationary impact on US economy 12:23 Gold reserves distribution and China’s gold standard stance 13:31 China’s strategic reasons for avoiding gold standard now 15:06 China and Russia’s gold mining significance 15:54 China’s secret gold accumulation and Shanghai Gold Exchange 18:06 China’s dominance in gold and silver mining and refining 20:02 Discussion of new Bretton Woods system based on gold-yuan 21:25 Global views on China vs US regime change policies 22:12 China’s non-interfering investment approach in developing nations 23:25 Global resentment towards US political interference 24:02 Potential weaponization of gold by US and G7 nations 25:10 Likely outcomes if US dumps gold reserves 26:14 Private investors lagging central banks in gold accumulation 27:18 Gold as final settlement vs credit and common misunderstandings 30:44 Gold price rise shows dollar credit losing value since 1971 31:13 Visualizing currency collapse impact on wealth and assets 32:07 Shift towards physical assets over credit and crypto 33:33 Historical hyperinflation example: Germany 1923 crisis 34:48 Property values collapse during currency hyperinflation 37:13 Necessity of crisis before political support for reforms 38:54 Risks of political solutions and historical lessons 40:07 Personal challenges during currency collapse and education efforts 41:18 Silver’s role as monetary and industrial metal today 43:30 Silver price potential and gold-silver ratio forecast 44:03 Energy security vs monetary security importance 45:25 Criticism of fossil fuel phase-out and economic risks 46:05 Demographic decline impacts on welfare and economy 47:25 Government overregulation and welfare system crisis 49:02 Welfare state bankruptcy and currency depreciation link 49:43 Overrated and underrated countries for economic models 50:39 Russia as a low-tax, low-debt surprising economic example 52:27 Political risks in China and Russia business environments 53:19 Key question on gold’s role as final settlement 53:49 Roman law origins of final settlement vs credit 56:12 Modern legal basis for transferable debt and credit markets 57:26 Where to find Alistair’s work and educational mission