Chris Martenson on peak prosperity and fiat currency flaws

GoldMoney’s Alasdair Macleod talks to Chris Martenson, who runs the Peak Prosperity website and is the author of The Crash Course. They discuss the concept of “peak prosperity”, the flaws of an exponential money system and the coordinated interventions of central banks.

Martenson explains the reasons for renaming his website “Peak Prosperity” — as owing to economic and environmental trends, many people are going to be faced with declining living standards in the years ahead. However, this should not necessarily be equated with declining quality of life, as there are lots of things that cannot be measured in terms of dollars — such as safety, community and purpose.

Alasdair and Chris talk about the unsustainability of an exponential money system in a world of finite resources. The amazing pace and amplitude at which things are colliding is beyond the processing capacity of our linear brains at this point. For many problems there won’t be solutions, in the sense that they will allow us to go about things as usual. As examples he talks about the effects of demographic change on the social security system and unsustainable water use in Saudi Arabia.

With regards to the recent decision by the Fed to launch a new asset buying programme, Martenson advises not to worry too much about things out of your influence. Instead, you should focus on the things you can control. For example, he points out that one can still use fiat currency to buy things while it still has value, in order to improve one’s life and prepare for the downside risk of a currency crisis.

This podcast was recorded on 22 September 2012.

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Alasdair started his career as a stockbroker in 1970 on the London Stock Exchange. In those days, trainees learned everything: from making the tea, to corporate finance, to evaluating and dealing in equities and bonds. They learned rapidly through experience about things as diverse as mining shares and general economics. It was excellent training, and within nine years Alasdair had risen to become senior partner of his firm. Subsequently, Alasdair held positions at director level in investment management, and worked as a mutual fund manager. He also worked at a bank in Guernsey as an executive director. For most of his 40 years in the finance industry, Alasdair has been de-mystifying macro-economic events for his investing clients. The accumulation of this experience has convinced him that unsound monetary policies are the most destructive weapon governments use against the common man. Accordingly, his mission is to educate and inform the public in layman’s terms what governments do with money and how to protect themselves from the consequences.

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