Macroscopic, a production of Gold Republic, posted on 5 May 2026, an interview of William White by Alexej Jordanov . The early part featured a discussion of the dilemma faced by central banks going forward. Many secular trends in the global economy are inflationary which would seem to call for tighter monetary policy. Unfortunately, both public and private debt levels are now so high in many countries that higher rates might threaten financial stability or even the sustainability of the government’s finances. If tighter fiscal policy is not used to help deal with this dilemma, the future threatens to be still more inflationary. White also dealt extensively with questions about stablecoins, the implications of massive investments in AI and the future of the dollar in the international financial system.