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Podcast: The Peter McCormack Show
Episode: Bitcoin and the U.S. Fiscal Reckoning with Avik Roy - WBD409
Description: Location: Austin, TX Date: Thursday 7th October Company: Forbes Role: Editor In 1971, Richard Nixon ended Bretton Woods, severing the entire global monetary system from its anchor, gold. Governments around the world have since been able to create new money and increase debt virtually without restriction. Fifty years later, and there's no political will to slow down spending. Instead, new money is created to pay for new spending, and the numbers involved get larger and larger. Governments can issue new currency to service their own debt, but the cycle of increasing d...