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. Dominic Frisby talks to Adam Parkin, fundmanger and economist (http://icfunds.co.uk/)
, and Michael Hampton, author and trader based in Hong Kong (http://globaledgeinvestors.com). They discuss the great global unraveling. According to Michael we're heading towards a situation where we have to acknowledge we can't borrow any longer. Michael discusses the differences between money and credit. He expects Greece to leave the euro and the euro, in its current form, not to exist anymore in 3 years from now. Adam discusses the possible outcome of having a Northern euro and Southern euro. They discuss the implementation of an imposed global currency and the dangers of that. Michael is in favour of more personal freedom and discipline.
Michael and Dominic argue about the pros and cons of a monetary system based on gold and talk about actions taken by Nixon's administration and other historical events. The monetary system needs discipline says Michael. Michael points out that he doesn't like to see certain powerful people profit from a high gold price. Dominic stresses that the classical gold standard worked better than the pure fiat standard we're now on.
They also discuss the differences between Argentina, Greece and Iceland. Finally they talk about the disconnect between the price of gold and the price of mining shares.
The podcast was recorded on 3 November, 2011.