This podcast episode explores the future of the monetary system, focusing on the incompatibility of a debt-backed system with deflation and high debt, the role of energy as the base layer of money, and the potential collision course between the US dollar and energy. It discusses the historical significance of the petrodollar system, the changing denominators of the dollar and oil, and the factors influencing energy prices. The episode also delves into the shift away from the dollar as the reserve currency and the increasing influence of the Chinese yuan. Throughout the conversation, there is an emphasis on the need to acknowledge the role of energy in shaping economies and empires and the challenges faced by the US in maintaining its position in the global financial landscape.
