
Inside the Dollar Endgame: Why the Global Monetary System Is Reaching Its Limits - with Roberto Rios Video
The InitiationShow Notes
In this episode of The Initiation, I’m joined by Roberto Rios also known as Peruvian Bull — monetary researcher, economist, and author of The Dollar Endgame — for a deep and unsparing conversation about the fate of the global financial system. For decades, central banks have attempted to stabilize growth through zero interest rates, quantitative easing, and ever-expanding debt. What began as emergency policy has quietly become permanent architecture. Peruvian Bull argues that this system has now crossed a point of no return — and that the world is entering a phase of structural monetary breakdown rather than a cyclical downturn. We explore why the US dollar-based system is increasingly trapped by its own design, how inflation is not an accident but a structural outcome, and why traditional policy tools may no longer be able to restore stability. From sovereign debt dynamics to the limits of fiat money, this conversation traces the deeper mechanics beneath today’s economic volatility. At the heart of the discussion is Bitcoin — not as a speculative asset, but as a potential new monetary base layer. We examine whether Bitcoin could function as a form of hard money for a digital age, what conditions would be required for such a transition, and what this would mean for states, markets, and individual sovereignty. This is a grounded, systems-level exploration of where our monetary world may be headed — and what kinds of choices lie ahead once old structures begin to dissolve. If you’re new to The Initiation, you may also want to explore Season 1, where I lay the foundations for the entire series. Across the first nine episodes, we dive into the core themes shaping our moment in history - from the rise of artificial intelligence and the breakdown of our monetary system to the climate crisis, geopolitics, and the breakthrough forces pointing toward transformation. Season 1 offers the wider context for everything we’ll explore this year.
More from The Initiation
What if one of the most powerful forces shaping human behaviour is something we rarely talk about - our fear of death? Sheldon Solomon is a social psychologist and one of the world’s leading researchers on terror management theory - the idea, inspired by Ernest Becker’s The Denial of Death, that our awareness of mortality quietly shapes much of human behaviour. For more than four decades, Sheldon and his colleagues have studied what happens when people are reminded of their mortality. Their research suggests that death anxiety can make us cling more tightly to our beliefs, become more hostile towards those who are different, seek money and status, support authoritarian leaders and even become more willing to exploit the natural world. But there is another possibility. What happens when, instead of denying death, we actually turn towards it? In this conversation, we explore:
What if the collapse we fear isn’t the end of humanity — but the end of a system that no longer serves us? Sarah Wilson is a bestselling author, journalist and activist. Her latest book, I Eat the Stars: How to Live Fully and Beautifully in a Collapsing World, explores how facing the reality of the metacrisis can paradoxically bring greater clarity, courage and even joy. In this conversation, we explore:
In this episode of The Initiation, I speak with Luke Kemp, researcher at Cambridge’s Centre for the Study of Existential Risk and author of Goliath’s Curse: The History and Future of Societal Collapse. Luke challenges the conventional story of civilization as a steady march of progress. Instead, he traces the rise of what he calls “Goliaths”: societies built upon concentrated power, extractive resources, monopolized violence, and the restriction of people’s freedom to leave. While the collapse of these systems often benefited ordinary people in the past, Luke argues that collapse today would be profoundly different. Nuclear weapons, artificial intelligence, ecological breakdown, and our dependence on global supply chains have raised the height of the fall—potentially to a terminal level. We discuss:
In this episode of The Initiation, I speak with Corey Bradshaw, ecologist, modeler, and global change scientist, about the uncomfortable realities of the ecological crisis — and what it means to face them honestly. Corey’s path began far from academia: growing up in the Canadian wilderness with a trapper father, learning the intelligence of animals, the harshness of wild places, and the power humans have to alter the living world. Today, he uses mathematical models to understand ecosystems, extinction, population dynamics, climate trajectories, and the future of human civilization. Together we explore why the sixth mass extinction is not just a distant scientific abstraction, how overpopulation and overconsumption are inseparably linked, why efficiency often leads to more exploitation rather than less, and why denial is such a deeply human response to ecological breakdown. This is not an easy conversation — but it is a deeply clarifying one. Corey offers a form of grounded realism: not the fantasy that everything will be fine, and not the despair that nothing matters, but the possibility of making the future “less shitty” through honest seeing, better choices, and a renewed sense of responsibility for the living systems that sustain us. A conversation about extinction, denial, resilience, collapse, and what it means to stay useful in a world that is already changing. And for new listeners, Season 1 of The Initiation lays the foundation for this inquiry - exploring the breakdowns, breakthroughs, and inner transformation shaping humanity’s collective threshold.
In this episode, I’m joined by Jeff Booth — entrepreneur, investor, author, and co-founder of Ego Death Capital — for a wide-ranging conversation on Bitcoin, money, AI, and the civilizational threshold we find ourselves in. Jeff argues that Bitcoin is not merely an asset, but a protocol for a fundamentally different kind of world: one beyond the zero-sum logic of manipulated money, extraction, and centralized control. In his view, Bitcoin opens the possibility of a true free market — one where technological progress, AI, and productivity gains can flow back to people through falling prices, rather than being captured by states, banks, or technocratic monopolies. We explore why Jeff sees Bitcoin as essential to the transition into a post-labor economy, how broken money distorts reality and fuels fear, why most of crypto misses the point, and what it means to reclaim agency in a time of accelerating breakdown and breakthrough. We discuss:– Bitcoin as a civilizational phase shift– Why the natural state of a free market is deflation– AI, robotics, and the future of labor– Why broken money concentrates power– The spiritual and psychological dimension of Bitcoin– Ego Death Capital and investing in the Bitcoin ecosystem– Why Jeff believes most other blockchains go to zero– MicroStrategy, ETFs, and the risk of Bitcoin capture– Agency, fear, and building the world that comes next This is a conversation about Bitcoin — but also about consciousness, courage, decentralization, and the possibility of an infinite game for humanity. And for new listeners, Season 1 of The Initiation lays the foundation for this inquiry - exploring the breakdowns, breakthroughs, and inner transformation shaping humanity’s collective threshold.