George Gilder—the prominent American economic thinker, investor, and technology guru—believes Donald Trump’s economic plan for the United States will fail unless the incoming President addresses what Gilder calls “the scandal of money.”
“What we’ve got now is a worldwide government monopoly on money,” says Gilder. “Central banks around the world control money in a kind of crazy carnival with 10 banks.”
Mr. Gilder claims the solution is, “gold, bitcoin, some combination of digital money tied to gold; it’s some kind of fixed currency regime.”
As one of the intellectual architects of supply-side economics—a policy enacted by President Ronald Reagan in the 1980s—Gilder believes Trump can, “really be hurt over the next several years if the dollar rises a lot… in response to tempestuous international economic developments in Italy or around the world.”
In a podcast interview taped with host Jonathan Roth, Gilder also addresses the relationship between Trump and the billionaire co-founder of PayPal, Peter Thiel. Thiel’s expertise in setting up the online payment giant could be the vital experience required to enact the monetary reforms needed to make Trump a successful President, in Gilder’s view.
Listen to the full interview (12:22) by clicking the play button above.