We're Entering The "Death Spiral" Phase Of Currency Collapse | John Rubino

**SPEAKER_1** (0:00)
I'm RJ.

**SPEAKER_2** (0:00)
Decker, a private investigator, uncovering the Sunshine State's darkest secrets.

**SPEAKER_1** (0:06)
Tuesdays, it's the premiere of ABC's hottest new crime show.

**Adam Taggart** (0:10)
RJ freaking Decker has that living breathe.

**SPEAKER_1** (0:13)
He's a private eye.

**SPEAKER_2** (0:14)
It's not a standard murder, it's someone bigger.

**SPEAKER_1** (0:16)
And a public mess.

**SPEAKER_4** (0:18)
Trying to get them back to prison today.

**SPEAKER_2** (0:20)
You go to prison one time and suddenly it's all the jokes.

**SPEAKER_1** (0:23)
RJ. Decker, series premiere, Tuesdays on ABC and Stream on Hulu.

**John Rubino** (0:30)
What history is, is basically human nature playing out over and over again, because a couple of generations die off and nobody remembers what happened before, and we make the exact same mistakes again. So we're kind of doing that now. Governments are borrowing too much money and they're printing too much currency to cover their debts, and that's causing the value of the currencies to decline. That's all happening and it's happened before over and over again, going all the way back to before the Roman Empire. So in that sense, this is very familiar and we know how it's going to play out. It plays out with a decline in the value of the currency that becomes unmanageable and disorderly, which is followed by a collapse in that currency and then a reset. Some kind of new currency system is created going forward. So we're deep into that process now. I would say that we're in the death spiral part of that because the numbers are just so immense. Every major government in the world, with the exception of Russia maybe, has way too much debt.

**Adam Taggart** (1:38)
Welcome to Thoughtful Money. I'm Thoughtful Money Founder and your host, Adam Taggart. I've got the good fortune of speaking today with my good friend, John Rubino. Hey John, how you doing?

**John Rubino** (1:49)
Hey Adam, great to speak with you again.

**Adam Taggart** (1:51)
You too. Well, so many of you may know John from his popular sub stack, or before that, when he founded and ran dollarcollapse.com. John, it's funny us having this conversation remotely like this, simply because you were actually up visiting me yesterday, the day before, and we had initially intended to do a live recording where we'd both be in the same room together, but we had so much fun stuff to pack into your time here that we decided to do that and then record this later on.

**John Rubino** (2:23)
You know, I was thinking we should have just mic'd ourselves for that visit because you could have chopped that up into about 10 shows with all the ground that we covered. I know.

**Adam Taggart** (2:32)
Well, speaking of ground we covered, a lot of our conversations were kind of out on hikes and I was thinking about that but I need to invest like I was at Michael Borden-Arrow. He's famous for doing interviews while he walks, but you need some sort of like selfie stick to hold the camera out in front of us. I didn't have that yet.

**John Rubino** (2:52)
I've always wondered how they do that because a selfie stick would bounce around a lot normally, but somehow they managed to stabilize it and cut down on the wind noise, right? But yeah, if you figure out those two fixes, I think you should do that with the people who come visit you. Just record the whole thing and there's your material for the next week.

**Adam Taggart** (3:11)
It will be fun. I posted a couple of photos that I took of you and I while you were out here, and a lot of people put them on X, and a lot of people were like, man, I would love to have been a fly on that wall or whatever. So yeah, maybe next time we figure out a way to let people come with us as we come on these hikes. And we took some fun ones. Your last day there, we went and hiked along Lake Tahoe. Gorgeous day, gorgeous lake, a lot of fun. So anyways, thanks so much for coming up again.

**John Rubino** (3:37)
Thanks for having me. All right.

**Adam Taggart** (3:38)
Well, look, John, it's not like there's a shortage of things to talk about, much of which we already have privately, but we can do some of that publicly here. Now, you're best known for being Mr. Dollar Collapse. I mean, the guy who's been ringing the bell for a long time, about what I consider to be the trend in my lifetime, I have the greatest confidence in financially, which is the purchasing power of fiat currency is going to continue to decline going forward and very well may do so on an accelerating basis or at least be punctuated by periods where it really falls pretty quickly. And obviously, through your warnings about that, you have educated people about the wisdom of the prudence of owning at least some precious metals, gold, silver. I can't remember how much you specifically have talked about Bitcoin as an alternative to it. But anyways, why don't we start there?