View: https://www.youtube.com/watch?v=CDRImWDLHeE
“Gold and dollars would have saved you definitely,” says IE Business School professor Daniel Lacalle, referring to the widespread power outage in Spain that also crippled communications and access to water recently.
In today’s interview, he tells Daniela Cambone that in a crisis like that, electronic fiat money doesn’t work. “You go to a store and you have to use this gold ring and you get food. That's for sure.” He also points out that the blackout was caused by politically driven energy policies that overly rely on volatile renewable sources without sufficient backup from stable power sources like nuclear and hydro. “The ideology of energy makes no sense… renewables are left-wing and nuclear is right-wing? That makes no sense.”
Additionally, he argues that the attack on cash reflects the elite's effort to tighten social control, referring to a promotional video from the ECB that touted the digital euro’s viability even without electricity or internet. Watch the video to learn how you can better prepare for situations like this one.
Key Facts:
Prof. Lacalle shares behind-the-scenes chaos during Spain’s blackout.
Why could Spain’s massive blackout have been prevented?
How can gold and dollars come to the rescue during blackout situations?
The ECB’s master plan to introduce a digital euro.
Could a massive blackout happen in the U.S. too?
