Unchained
Unchained
Laura Shin
Ex-Citi Chief Economist on Gold, Bitcoin and the Debasement of the US Dollar - Ep. 935
39 minutes Posted Oct 30, 2025 at 10:30 pm.
Introduction
Is gold really in a 6,000-year bubble?
Why Willem says some bubbles can last forever
What to make of the dollar’s debasement and why other currencies aren’t better
Why Willem doesn’t believe in Bitcoin as a store of value
Why he says fully backed stablecoins could define the future of money
Are tokenized deposits a breakthrough or a threat to the monetary system?
Why Willem supports central bank digital currencies
Will the world end up with hundreds of stablecoins?
Is the Fed quietly shifting its inflation target to 3%?
How Trump’s pressure could undermine Fed independence
Why Willem is bullish on tokenized assets
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Show notes
Gold may have history, but does it have a future?
Former Citi Chief Economist Willem Buiter joins Unchained Executive Editor Steve Ehrlich to argue that gold’s “6,000-year bubble” is long overdue to burst. 
He explains why he thinks central banks should dump their bullion, why Bitcoin isn’t a reliable store of value, and why fully backed stablecoins and central-bank digital currencies could define the next era of money.
He also touches on Trump’s influence on the Fed, tokenized deposits and the future of stablecoins.
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Guest:
Willem Buiter, Independent Economic Advisor, Previously Global Chief Economist at Citigroup
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