Oct 20, 2021
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Jared Bibler joins the podcast to discuss his book 'Iceland's Secret' and his experience living through that country's financial collapse in 2008.
It was a very dark period in Iceland's history, with individuals
losing homes and savings and not being able to buy food. The author
experienced this first-hand, initially as an asset manager and
later working for regulators seeking to bring the responsible
parties to justice.
The crisis in Iceland shocked the world but was quickly overshadowed by the collapse of Lehman Brothers in the U.S. Today it is largely forgotten outside of Iceland. But the author says his experience holds many lessons for the present day.
If nothing else, his experience holds lessons for those interested in hedging against a total collapse of capital markets and civil society.
(Spotify users can link to the start of the segment directly by clicking on the timestamp)
Why Iceland's financial crisis remains misunderstood and not discussed while still holding important relevance to global capital markets today (2:36);
Iceland as an extreme example of the contemporary world (7:51);
Corruption unfortunately remains 'fairly endemic' worldwide in the guest's experience, which transcends several countries (12:43);
The next crisis will make 2008 'look like a walk in the park' (14:27);
Lessons for the prepper community: hard currency retains its value quite well in such crises (18:57);
The crypto world is ripe for fraud and 'tethered' coins do not seem to offer the protection claimed (23:30);
Background on the guest (29:21);
How he's spending his days now and why ESG has the attention of global regulators (36:54);
Insider trading, especially around M&A deals, is rampant (38:36);
What has changed in Iceland, other than a tourist explosion (43:50).
Not intended as investment advice.