Andrei Polgar discusses cryptocurrency and financial crises in Age of Anomaly

0:00hey everyone I'm Ashlyn Addison from a vincentio for the crippled coin show and today on blockchain interviews we have Andrzej pulgar the author of the age of anomaly is a super exciting new book that he just wrote it's being released and welcome to the show Andrzej thank you very much for having me Ashton and thank you guys for tuning in so let's let's dive right into this book tell us

0:23a little bit about what is the book about and why did you decide to write it many people know me thanks to my one word economics YouTube channel as the economist dude on YouTube and I've always felt that this comes with some responsibility it there are people who care what I have to say there are people who listen to what I have to say so I didn't want to feel guilty essentially

0:47for having major concerns as I articulated them in the book about the economy but keeping them to myself so I kind of did the exact opposite I wrote a 400 plus page book that basically tells people from A to Z what I think is gonna happen expect what I think they need that needs to be done and so on not only that I'm reaching out to people I'm gonna have over 100

1:11collaborations with channels Fahd cast from all over the world to celebrate the launch of the book I'm gonna have a contest on my channel with prizes even such as one Bitcoin which is the number one prize I'm going to reduce the price of the book so essentially I'm on a major quest to have access to people's minds because the only thing essentially that I care about is having access to

1:31them planting seeds and it is my hope that these seeds and as many cases as possible are gonna germinate and turn it to something awesome that's great so as a pre-emptive I know you've you've been studying economics for a while and there is some major trends in financial markets that are part of the Flippen and cryptocurrency ties into this as well could you expand a little bit about what

1:57you speak of you know moving forward with these traditional markets stock market housing market and these other things and and where do you see this going I consider myself a hands-on economist so yeah I have the academic dimension cover from bachelor's to PhD I also trade the markets including crypto including traditional ones I have positions in real estate here in Romania

2:19like I keep my ear to the ground and what I can say is that I'm not the type of person who's easily spooked by for example the idea that the market is gonna crash by 60% when it comes to stocks or real estate know what I'm afraid of ISM is what happens next it's a major change in narrative and essentially I do believe and I try to explain it in the book that we're gonna go from a

2:42narrative like don't worry markets are crashing but central banks and governments have it all under control we're going to go from that to we're in trouble but from we're in trouble but governments and central banks will bail us out – who exactly is going to bail out governments and central banks and this ties into what you said because once these things start unfolding as has

3:06happened many times throughout history it's inevitable that we're gonna deal with a loss of confidence induced big reset type situation and that obviously translates to a major transfer of wealth and the reason why I'm all over the place why I'm focusing so much on this book despite there being tons of other better ways to make I have the Internet why I'm here is because I know that the

3:29average person historically speaking tends to be on the losing end of that deal definitely you know there's there's a there's a 1% and there's a 99% and to be as educated as you can you know read as much as you can study as much as you can to to help yourself and benefit yourself moving forward so speaking on you know I I feel like there's a it's a cyclical movement of the economy you

3:55know there's there's booms and there's busts and throughout the 1900s and now in the 2000s there there have been a few crashes of the economy the North American economy as well as the world economy what do you see coming up in the short term do you feel like the time is now where something is going to happen big in the world cyclically speaking definitely so because only once has it

4:22happened that more time passed between recessions than right now and if another goes by without us having a crash then it would be a record so yes from a cyclical perspective we're definitely do or even overdue a financial crisis and there are essentially so many pockets of anomaly as I choose to call them each of them individually important enough to warrant

4:43our attention but together they do tend to give me goosebumps so yeah even from a cyclical perspective it makes perfect sense to accept to expect a major crash sooner rather than later okay and you mentioned that you're in Romania but a lot of our viewers and people tend to focus on the economy of North America and more specifically the United States

5:08because of the huge financial industry that they have do you think the the core of the this new cycle of this crisis that we may be going through is going to originate from the states how much do you touch on that in your book and do you see that starting the ripple effect for the entire world or where do you see the origin at the end of the day it's always hard to determine

5:32what kind of a Black Swan event is going to cause it and in our deeply interconnected world if China sneezes America is going to catch a cold if there are problems over in Japan and you can be certain that people won't be happen happy in the European Union either and this is actually why in my book in the age of anomaly I actually embrace my incompetence when it comes to predicting

5:54the future I make it a core pillar of my strategy because essentially essentially paying attention too much to what the trigger is going to be that's just noise what matters is that for there are various things that could that could essentially cause this but personally I would much rather dedicate time and energy to becoming more resilient so as to essentially withstand anything that

6:20life throws at me whether it's deflationary whether it's inflationary weather okay if you were to ask me for a bit for my best guess it would be that we're gonna have a deflationary event followed by a loss of control that's going to eventually lead to an inflationary spiral but your guess is as good as mine at the end of the day what I try to push the people is this

6:41I don't want to get you hooked on my predictions I don't want to get you hooked on the strategy or another did i spoon feed you what I do want from you is to take meaningful action yourself to become an independent economic thinker don't listen to the talking heads including this talking head do your own research I'm gonna give you in my book of course the kind of the perspective

7:03and the tools you need to pull it off but the final decisions don't outsource them to me don't outsource them to anyone else it's on you to figure these things out I think that's a very important point that you that you've made and the fact that you're touching on you know the incompetence and uncertainty that you know as you've written this book you know you don't

7:25know the future I don't know the future we can educate asthma our selves as much as we can and conveying to others that they need to educate themselves as well to prepare themselves I guess that's sort of part of the key point that you're making that's always what I'm selling like especially in the financial industries there are all sorts of gurus who come

7:44and go who claim they have all the answers and of course I'm going to give you an easy solution to be financially secure of course I have a quick fix for you but these people come in though and I like to brand myself as the guy who is always here so by all means if people prefer to listen to the flavor of the month economists then that's their prerogative but I am more than happy I'm

8:04gonna still be here and I will be more than happy to you know help them recover when they realize that the name of the game is kind of pushing for sustainability I completely agree Andre so this is the crypto coin show so if we could go and touch back to crypto currencies a little bit I know in previous financial crises they're you know hedged assets like gold

8:31and silver heavy metals have had opposite effects where if some markets will go down heavy metals will go up as a safe-haven and some people have tied you know crypto currencies as sort of like that digital gold that sort of fits into that same category do you can you speak a little bit about the cryptocurrency industry and how it will be affected by these financial crises

8:55first of all one important major important advice for those in crypto do not be surprised if just like what happened with precious metals after the Great Recession the initial reaction of the market will be a negative one or in other words don't be shaken out if right after whatever it is that triggers the event crypto Christ the crypto prices fall again the same thing happened after

9:20the crisis with precious metals and sometimes it takes time until the market digests what happens and until the assets you've invested into hedge kind of end up doing their things so yes I most certainly most certainly believe that crypto core you know the best of the best of course in terms of crypto will act as the safe haven they were adopted as being but there's one

9:45important distinction to be made now more than ever and by now I mean the context of the next financial crisis people need to understand that the things that worked in the past will probably not work in the exact same way so now more than ever when researching altcoins for example you had better do a much better job when it comes to due diligence you had better make sure you

10:06pick the right projects okay and and the void pump and dump schemes because of course a lot of people have made money last year for example or even at the beginning of this year and then everything goes matter and these things might not work as well in fact I would venture to say that the next financial crisis might bring about a bit of a big divergence situation in crypto in that

10:28you're gonna have the best of the best in terms of crypto projects that are gonna do remarkably well and generate life-altering returns whereas you know flavor of the month pump and dump type altcoins not so much so if I were to give people two pieces of advice when it comes to crypto in the context of the next financial crashes it would be this don't be shaken out understand that the

10:53initial reaction of the market might be negative just like what happened with precious metals and to focus on quality do your research and understand that after the next financial crisis we will no longer be able most likely to just say crypto in a way that encompasses everything there's gonna be good crypto there's gonna be bad crypto and it's on you to

11:14do the research to put in the work and decide which projects are worth investing in I completely agree so do you think that a lot of the people in the cryptocurrency industry really already have that in mindset where they they can foresee a financial crises in in the case of it's not not if but when and that's really the people really need to help themselves and I think that you

11:41know giving this kind of information out at as you mentioned you're selling your book for not even a dollar ninety-nine cents to be able to spread this information as widely as possible and provide it for for value I think that's part of it one of the key strategies I've chosen 99 cents because it's the perfect balance to me I'm essentially giving the book away for free but also

12:02symbolically you're giving me those 99 cents you're invested in my work you you're there and that's kind of what I want to do like someone who's in it for the money is not going to write 400 plus pages and sell it for a buck this is something that's bigger than myself and that's kind of the role these things have my youtube channel my books I always try to keep a good balance

12:21between projects that are very good at putting food on the table and projects that kind of give my professional life a deeper meaning so that's pretty much what I'm in for when it comes to this game that's wonderful so your books coming out this month can you tell our viewers what's the best place to get it how do we follow your channel and stay in touch

12:44with news do you do release news more often about the economy and the crises or how can people follow you well the book is gonna be heavily discounted to just 99 cents as at this point as of the 6th of August when this is going to go live and up until the 12th of August until Sunday but even after that the price is not going to be unbelievably high they can find the digital and paper

13:09versions on Amazon and Barnes & Noble they can find the digital only versions on iBooks and on Kobo and as far as I'm concerned I'm an easy guy to get ahold of you can just head on over to youtube.com forward slash economics I'll do my best to continue publishing these animations and as things progress and as I'm gonna realize that people maybe want my advice when it

13:30comes to current events more I'm going to come up with new formats to kind of help people so for example when the next financial crisis starts I might do even very long live streams or I'm gonna do my best to adapt and kind of take my role seriously as a guy that people look up to when it comes to economics so whenever something bad happens people can find at least some comfort in

13:52knowing that I'm gonna be there and they know where to find me that's amazing Andre author the age of anomaly it's been wonderful speaking to you I really appreciate your insights into the crises and where cryptocurrency is going and we should follow up hopefully you know the crises isn't too soon but so we can give time to let everyone prepare themselves

14:16but when it does happen you know who I'll be talking to perfect thanks a lot for the opportunity Ashton I'm gonna be happy to come on again and we'll keep in touch yes thank you so much Andre will speak soon and have a great day take care guys bye bye you