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Former Chief Economist (BIS) Explains Monetary Endgame
Paul Buitink talks to William White, an economist who worked at the Bank of England, Bank of Canada, Bank of International Settlements (where he was chief economist) and the OECD. William is 82 years old and has decades of experience as in insider.They discuss the dismal state of cooperation between the West and the Global South. They also dive into the perilous state of the eurozone due to France's financial troubles. Is the euro sustainable? What was the role of the BIS at its creation? William also explains how the boom bust cycle works, how central banks always resort to money printing and why he saw the Great Financial Crisis coming. We are currently in bubble territory.He sums up all the bad alternatives out there when it comes to curing our financial system. He also gives his view on how the likelihood of a Bretton Woods II is.Follow Paul on X here:https://x.com/paulbuitinkFollow William here:https://williamwhite.ca/https://en.wikipedia.org/wiki/William_White_(economist)Timestamps:0:00 Intro2:11 Economic cooperation between the West and East/South4:00 Role of the OECD6:06 Growth of BRICS and SCO10:47 France’s finances13:50 Bond vigilantes19:28 Central banks and governments will intervene22:10 Democratic deficit when it comes to our money24:00 Role of BIS in the creation of the euro29:09 Is the euro sustainable?30:40 Should pension funds sell euro assets?33:12 How bubbles are formed40:58 Are we in bubble territory?44:27 How to make the system more sustainable47:30 Policy problems, only bad alternatives58:54 A new Bretton Woods coming?1:03:02 Outro
Published on 1 week ago