Wealth & Poverty Review Interview With Dmitriy Balkovskiy

Originally published at Substack

Dmitriy Balkovskiy, a Russian businessman, published my first book Gold: The Once and Future Money (2007) in the Russian language. This worked well: Not long after, Russia’s largest television station, Channel One, sent a video crew to my house in Upstate New York to interview me for a big documentary on the world monetary system.

It is easy to tell which societies are going to be leaders in these matters, because they send TV crews to my house. (Korea and China did too, but nothing from the US yet.)

So, it was nice to get together with Dmitriy again to chat about how things are going.

For now, the Federal Reserve has not been as aggressive as I thought. I was a little more gloomy-doomy earlier this year. However, in the bigger picture, central banks are still “money printing” pretty actively. Governments are still spending way too much money. I still think we are in a “Winter Crisis” period similar to that suggested in the Strauss/Howe “Fourth Turning” model. Martin Armstrong’s voodoo black box is still showing a Monetary Crisis beginning 2021 and intensifying in 2022 — and it has an impressive track record.

This link has a partial transcript in English, and a link to YouTube for the full interview.

Dmitriy has been active in facilitating the migration of Westerners to Russia. He has helped more than two hundred farming families from South Africa to migrate to Russia. There is a lot of underused farmland in Russia, so perhaps they will find some good opportunities there. If you are considering migrating somewhere, you might talk to him about it.

Nathan Lewis

Fellow, Center on Wealth & Poverty
Nathan Lewis is the author of four books on economic topics, including three about the gold standard. He has maintained a website on economic topics since 2005, at He has fifteen years of experience in the asset management industry, in research and portfolio management. Today, he is the editor of the Polaris Letter, an investment newsletter.