The argument that Williams makes is quite convincing and he predicts that there will need to be a massive exogenous shock to the system that leads to political upheaval, social upheaval, and financial upheaval in order to create a deleveraging event that forces us back onto the gold standard. I don’t know if the past 9 months are it or not, but it sure fits the pattern.

Naturally, as I watched this presentation and his advocacy for gold, I couldn’t help but think that Bitcoin, as the digital version of gold, (call it Gold 2.0) would fit in nicely here.

Of course, it depends on the timeframe for the return to the Gold Standard (which Williams says inevitably will happen because with every fiat currency, it eventually has to happen.)

That’s a thesis I agree with.

The question is when, not if, Bitcoin as a digital currency born of the Internet and suited for a networked age becomes the de facto reserve currency alongside (more likely in the 1st iteration) or in place of (over time due to inherent advantages of digital over physical) gold.

But leave BTC out of this and focus on the threat to fiat.