In this interview, Alasdair Macleod, the Head of Research at GoldMoney, discusses the current economic situation and the potential for a collapse of the fiat currency system. He notes that the US is facing a banking crisis, and that the rising interest rates that will likely accompany a fall in the value of the US dollar will create a negative feedback loop, worsening the situation.

Macleod points out that a large amount of US currency is owned by foreigners, with over $7 trillion of short-term money owned by foreigners compared to only $384 billion of US-owned foreign currencies. If these foreigners start selling their dollars, the US would need to find buyers, likely leading to a rapid fall in the value of the dollar.

Furthermore, there is $24 trillion of long-term investments held by foreigners, which they may also sell, further exacerbating the situation. Macleod notes that the central banks may need to step in to manage foreign exchange markets, which could require large amounts of money, potentially leading to a collapse of the fiat currency system.

Macleod argues that the US banking crisis is far from over, and that the stability of the system is worse than ever. He suggests that the ECB and the Bank of Japan are also in negative equity, and that the bankruptcy of the fiat currency system is a very real possibility.

Overall, Macleod paints a dire picture of the current economic situation, with the potential for a collapse of the fiat currency system looming on the horizon. He argues that the timing of this collapse is difficult to predict, but that the situation is unstable and likely to worsen in the coming months and years.