Martin Wolf
speaker
495 appearances
3 recordings
1 series
first heard Nov 2024
last heard Jun 2025
Martin Wolf’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
So if they start using that their control over the financial markets and the role of their currency in that sort of way against people with real clout in the world, then
The dollar would cease to be an attractive reserve asset for governments, and it would also become very unsafe for this reason for private holders.
And in that case, they'd have to find something else.
And to come back to your earlier question, then the monetary system of the world fragments.
And we and you might say, Well, we we're in a deglobalizing world.
In a deglobalizing world, it sort of makes sense.
That the monetary system fragments.
We don't get a replacement.
What replaces these the unitary dollar dominated system is a fragmentation.
Well, th my problem with this uh uh uh is that as far as I can see, we can't handle through crypto um the staggering volume of transactions that uh s payments settlement uh arrangements that are required to run the anything like our current economies.
So what you would really be talking about is I think as far as I can see the technology that would work would be stable coins.
But stable coins are basically always backed by fiat currency.
And you could imagine a c composite basket, uh that has been suggested, but uh the the ones that look most credible are backed by a currency.
So stable coins are just a way
of making fiat systems um effective globally, but they're not an alternative to them.
And uh and again the stable coins would only work if they are backed by m the major fiat cur currencies they're convertible into.
And of course that brings us back to the question of well uh would the dollar element in that be
Well, th the the taco trade is the brilliant coinage of my colleague Robert Armstrong and I think it captures something.
It's a good perfect.
Absolutely brilliant.
Showing 101–120 of 495 · page 6 of 25
← Previous
Next →