This week’s guest is Dominic Frisby. Dominic is a contributor for the investment magazine, Moneyweek and writer for The Guardian. He is also a non-executive director of cryptocurrency startup, Coinworks. Dominic is a well-known comedian, voice author and author of the books, “Life After The State”, “Bitcoin: The Future of Money” and “Daylight Robbery: How Tax Shaped Our Past and Will Change Our Future”.
“I’m not sure if I discovered gold, or if gold discovered me.
I think the first time my ears pricked up was in 1999, when Gordon Brown sold some of the UK’s stocks of gold. I was listening to the radio and thought, “that doesn’t feel right”. Even to someone who knew nothing – and I mean absolute zilch – it felt like a bad mistake.
I used to read The Week magazine and at some point they promoted Moneyweek, so I signed up for it and rather liked it, and it made me think I should start to take some control of my investments.
Moneyweek were very pro-gold but I remember they mentioned a website called housepricecrash. So I had a look on there, and there I found some seriously bright people discussing gold. There was this narrative that you should sell property and buy gold.
The property crash narrative that the website had sprung up around never really materialised, not even in 2008, but the gold story I found totally compelling. The arguments made total sense to me.
I was persuaded by the political arguments that accompany gold – that it was sound money, involved limited government and so on – and the fact that gold was in a bull market at the time only made the story even more compelling. I was also persuaded by the argument that so many of society’s problems stem from the debasement of currency.”