Andy Duncan talks to Austrian Economist, Professor Thorsten Polleit, about a recent speech he gave entitled “What Do Bankers Know About Money and Banking?” Dr Polleit is Chief Economist for Degussa Goldhandel in Germany, and is the former Chief Economist for Barclays Capital. He lectures in Economics at the Frankfurt School of Finance and Management, and the universities of Bayreuth and Duisburg-Essen.
Dr. Polleit discusses how fiat currency causes “Collective Corruption” in societies, and how this then leads to hyperinflation, despite the dangers to society that hyperinflation always brings.
Andy also debates with Dr. Polleit on the development of global fiat currency over the last 40 years, and how increasing levels of debt may mark its terminal decline. Will Governments plan for this decline by re-introducing gold-backing to Western currencies?
We recommend that you first watch Dr Polleit’s speech “What Do Bankers Know About Money and Banking?” at this link.
This podcast was recorded on 2 January 2013 (27 min)
For more information about Dr Polleit and his work visit http://www.thorsten-polleit.com.