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A New Global Currency; the Rise of the East; and Peak Oil – Erik Townsend

Episode 126: Alasdair Macleod interviews Erik Townsend ( — a specialist on “peak oil investing” and a contributor to the popular Financial Sense website.

Erik sees short-term strength in the dollar due to capital flight out of other markets. But long term, America’s problems will mount, and the country will need to address serious issues. This could result in the relatively-peaceful emergence of a new global currency system, but whether the central planners could avoid an inflationary collapse prior to such an event is questionable.

Both men muse on the reactions to the latest Fed comments, and how quickly markets react to perceptions of the stimulus “punch bowl” being withdrawn.

Erik sees a gradual long-term movement of wealth from West to East. The power games that surround this historical dynamic will affect the commodities market in intriguing ways.

The duo finish off with discussion of the energy section — one of Erik’s speciality subjects.

2 Comments on "A New Global Currency; the Rise of the East; and Peak Oil – Erik Townsend"

  1. BillT on Wed, 29th May 2013 3:16 am 

    I’ll watch this later, but the headline is correct, from all I have seen and read.

  2. WhoKnows on Wed, 29th May 2013 5:11 am 

    Does the East include the Indian subcontinent? You have over 1.7 billion people in a small region that is going to be severely affected by climate change. Not to mention, the various sectarian issues particularly Islamic fundamentalism. I’m not sure if that part of the East is going anywhere outside of the major metropolitan areas in India and, probably, Sri Lanka.

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