Willem Middelkoop: The Big Reset – How Power and Pricing is Shifting Away From the West

Tom Bodrovics welcomes back Willem Middelkoop, author of 'The Big Reset,' to delve into his insights on the anticipated transformation of the international monetary system and its effects on global finance and investment strategies. Published in 2007, 'The Big Reset' garnered considerable attention after the financial crisis in 2008 due to Middelkoop's beliefs regarding the impending collapse of the dollar system as a result of mounting debt and economic instability. In this conversation, he reflects on how his viewpoint has progressed since 'The Big Reset's debut and the emergence of Bretton Woods 3.0 from the eastern world, as well as the shift towards commodity-based currencies. Middelkoop highlights the importance of gold in the context of evolving reserve currencies and its function as a hedge against currency devaluation. He underscores the significance of comprehending the process rather than fixating on timing when anticipating these financial transitions. Discussing potential alternatives to the US dollar as the world's primary reserve currency, Middelkoop acknowledges China's expanding influence and burgeoning gold reserves. He asserts that the transition will unfold gradually with minimal impact on daily life for western residents but issues a warning of potential harm to Europe in the power struggle between the U.S. and China. Moreover, he voices concerns regarding economic and geopolitical risks, particularly escalating tensions among major world powers that could lead to significant military confrontations. Middelkoop shares his investment portfolio strategy, dividing it equally among equities, real estate, liquid cash or Bitcoin, physical gold, and silver. He advocates for diversification and caution in response to the inflation of bond and equity valuations. Middelkoop believes that commodity-backed currencies and base metal producers present opportunities for underpriced investments. Middelkoop also addresses the difficulties faced by the silver mining industry due to jurisdictional risks, low silver prices, and a lack of incentives for exploration. Time Stamp References:0:00 - Introduction0:45 - The OG Reset Book8:10 - Hindsight & Timing13:05 - Pozsar & Dedollarization17:47 - Gold Vs. Fiat History20:45 - A New Gold Standard?23:30 - Global Debasement29:38 - Dollar Replacements?33:15 - BRICS 'Trade' Currency36:39 - Hegemony & Conflict Risks44:02 - Dollar Weaponization46:08 - Silver & Physical Deficits48:44 - Central Banks & Silver53:36 - No New Silver Finds??56:45 - Jurisdictional Risks1:00:07 - Portfolio Weighting1:03:09 - Signposts Ahead?1:05:33 - Wrap Up Talking Points From This Episode * Middelkoop emphasizes gold as a hedge against currency devaluation in the context of evolving reserve currencies. * He highlights China's expanding influence and growing gold reserves as potential alternatives to the US dollar. * Middelkoop advocates for diversification in investment portfolio, including commodity-backed currencies and underpriced base metal producers. Guest Links:Website: https://www.cdfund.com/Twitter: https://twitter.com/wmiddelkoopReset Book For Free: https://www.cdfund.com/Amazon Book: https:///tinyurl.com/1aoikj6y Willem Middelkoop is the founder of the Commodity Discovery Fund and also an author. He became a well-known personality through his work as a stock market commentator for the Dutch business television channel RTLZ. Middelkoop predicted the credit crisis's onset in his book "Als de dollar valt" (If the dollar fa...