Steve Ehrlich interviews Willem Buiter, a financial expert, about his op-ed advocating that central banks should divest from gold, which he considers a 6,000-year bubble with little intrinsic value. They discuss Bitcoin's value compared to gold, the potential for a diversified portfolio for central banks, and the risks of currency debasement. The conversation shifts to Bitcoin's utility as a payment system versus a store of value, the future of stablecoins, and the implications of central bank digital currencies (CBDCs). They also touch on the Fed's upcoming meeting, interest rate cuts, and the influence of political pressure on the Fed's decisions, ending with a discussion on the potential for democratizing finance through blockchain technology and tokenized assets.
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