You don’t have to be vegetarian to try the salad, and you don’t have to be an extremist to listen to extreme views.
There’s a certain discomfort that comes from peering over the edge—especially when the abyss you’re staring into is the global financial system. Entertaining “fringe” ideas like a debt collapse, fiat failure, or financial repression by design often gets you labeled a doomer, a crank, or worse. But what if occasionally stepping into that uncomfortable territory is exactly what makes you a better investor?
That’s the central tension I explored in a recent conversation with Francis Hunt (“The Market Sniper”) on the Everyday Investor podcast. It’s a fine line walking between healthy skepticism and outright paranoia — a line everyday investors need to learn well.
Before 2017 I refused to ‘go there’. Once I realised it was all about probabilities, I changed the way I invested, and it worked.
The Taboo of Financial Collapse
Let’s get this out of the way: talking about the possibility of a debt-based collapse or orchestrated fiat failure is still taboo in most circles. Why? Because nobody wants to be the one at the barbecue muttering about the end of the monetary system while everyone else is talking about real estate or the All Blacks. As Hunt puts it, “It’s difficult not to sound conspiratorial, but there is a plan… There’s real planning going on for a far more draconian, digitalized system for the average people.”
But here’s the kicker: ignoring these possibilities doesn’t make them less real. In fact, the reluctance to discuss “doomer” scenarios is itself a form of financial repression—one that keeps investors complacent and unprepared.
Debt, Fiat, and the Quickening
Most people’s understanding of money is fundamentally flawed. Money isn’t just “there”—it’s borrowed into existence. Every mortgage, every government bond, every line of credit is a new IOU stacked on top of the last. As Hunt explains, this system works until it doesn’t: “It’s a pyramid scheme where the success depends on the endless increasing creation of new credit. When the system gets too heavy, it just breaks.”
And here’s where it gets really for every property owner: Is the forty-year bull market finally over? Will interest rates reverse course and start a gradual march higher, thereby crashing the bond market, stocks, and property? Interest payments are eating into government revenues at an accelerating rate. The U.S. now spends a quarter of its tax income just servicing debt. The “quickening” phase is here—the point where slow, incremental problems suddenly become a crisis. Or, as Hemingway said of bankruptcy: “Slowly at first, then all at once.”
Financial Repression: Accident or Design?
Here’s where things get uncomfortable. Is this collapse a result of incompetence, or is it by design? Hunt doesn’t mince words:
“It’s orchestrated. It’s deeply understood at the highest level. It’s not incompetence. It’s intent. It’s a controlled demolition because it’s how they end a particular stage in our history to start a new one.”
That’s a heavy accusation, but it’s not without precedent. Financial repression—keeping interest rates below inflation, devaluing debt, and inflating away obligations—is a well-worn playbook for governments in trouble. The difference now is scale and technology: the next system may be digital, centralised, and even more controlling.
Why Entertain the Doomer View?
So, why even entertain these “doomer” scenarios? Because the mainstream is always late. As Hunt points out, “We’ve gone from the fringe to semi-mainstream now. The bond market is over. The 60/40 portfolio is dead. But two years ago, nobody was talking about this.”
Preparing for the unthinkable isn’t about digging a bunker and hoarding beans. It’s about understanding risk, seeing the system for what it is, and positioning yourself accordingly. Gold and precious metals, for example, aren’t just speculative plays—they’re insurance against systemic failure. As the credibility of debt erodes, gold’s role as a reserve asset only grows stronger1.
Preparation vs. Prepping
There’s value in preparing, but not in being a prepper. The distinction is crucial. Preparation means building resilience: diversifying assets, understanding macro risks, and keeping your eyes open. Prepping, on the other hand, is often rooted in fear and isolation. Hunt sums it up: “There are huge opportunities. You can seize the opportunity that this process is presenting. There’s nothing doomer about that.”
The Real Risk: Not Talking About It
Ultimately, the real danger isn’t in entertaining fringe ideas – it’s in refusing to talk about them at all. Hyper-normalization, as Hunt calls it, is a mass psychosis where every day feels like the last, even as the ground shifts beneath our feet. The investor who never asks uncomfortable questions is the one most likely to get blindsided.
So, is this truth, or doomer porn? The answer is: it’s both, and neither. The edge is where the action is. Sometimes, you have to look over it to see what’s coming.
