\u201cGold and dollars would have saved you definitely,\u201d says IE Business School professor Daniel Lacalle, referring to the widespread power outage in Spain that also crippled communications and access to water recently.<\/p>\n
In today\u2019s interview, he tells Daniela Cambone that in a crisis like that, electronic fiat money doesn\u2019t work. \u201cYou go to a store and you have to use this gold ring and you get food. That’s for sure.\u201d He also points out that the blackout was caused by politically driven energy policies that overly rely on volatile renewable sources without sufficient backup from stable power sources like nuclear and hydro. \u201cThe ideology of energy makes no sense\u2026 renewables are left-wing and nuclear is right-wing? That makes no sense.\u201d<\/p>\n
Additionally, he argues that the attack on cash reflects the elite’s effort to tighten social control, referring to a promotional video from the ECB that touted the digital euro\u2019s viability even without electricity or internet. Watch the video to learn how you can better prepare for situations like this one.<\/p>\n
Blackouts, Control, and Currency: What Spain\u2019s Power Crisis Reveals About Your Financial Freedom<\/strong> An unprecedented power outage left millions across Spain and Portugal without electricity, communication, or access to their finances. It was more than just a blackout \u2014 it was a sobering warning of what happens when centralized systems fail.<\/p>\n On a recent episode of The Daniela Cambone Show<\/em>, ITM Trading\u2019s Daniela Cambone sat down with renowned economist and bestselling author Professor Daniel Lacalle<\/strong> to unpack the deeper implications of this crisis. Their conversation underscores a vital truth for financially conservative Americans: reliance on digital systems alone can leave you dangerously exposed when disaster strikes.<\/p>\n Let\u2019s break down what happened in Spain \u2014 and what it means for your financial privacy and independence here in the U.S.<\/p>\n Professor Lacalle described being in Madrid when the historic blackout began \u2014 first assuming it was temporary, only to realize the outage extended far beyond his home and office. Power was gone. Internet and mobile networks collapsed. Even bank ATMs were useless.<\/p>\n \u201cNo phone communication, no WhatsApp, no internet,\u201d Lacalle said. \u201cNo way to get any type of cash from any financial institution.\u201d<\/p>\n Citizens flooded the streets, unable to contact loved ones or access basic necessities. In some parts of Spain, the blackout extended to water supplies, further exacerbating the crisis.<\/p>\n This wasn\u2019t just a technical glitch \u2014 it was the result of an overreliance on intermittent energy sources<\/strong>, Lacalle warned.<\/p>\n Spain\u2019s blackout was triggered by a surge in grid tension \u2014 something Lacalle says is increasingly likely as governments replace stable energy sources (like nuclear and hydro) with solar and wind power<\/strong>, which are inherently volatile<\/strong>.<\/p>\n At the time of the blackout:<\/p>\n 80% of Spain\u2019s grid was powered by renewables.<\/p>\n<\/li>\n Only 11% came from nuclear.<\/p>\n<\/li>\n Just 3% from natural gas.<\/p>\n<\/li>\n<\/ul>\n With insufficient \u201cinertia\u201d in the system \u2014 the kind provided by consistent base-load sources \u2014 the entire grid collapsed<\/strong>, unable to restart. Despite repeated warnings from technicians, politicians pressed forward with an aggressive net-zero agenda, ignoring the very real threat of system failure.<\/p>\n As Lacalle bluntly stated: If the blackout weren\u2019t enough, Spain\u2019s government recently implemented strict cash withdrawal limits<\/strong>:<\/p>\n Withdraw over \u20ac3,000? Notify the tax agency 24 hours in advance.<\/p>\n<\/li>\n Over \u20ac100,000? Wait 72 hours.<\/p>\n<\/li>\n<\/ul>\n Fail to comply, and you could face fines up to \u20ac150,000.<\/p>\n \u201cThis is a war on cash,\u201d Lacalle emphasized. \u201cCash is freedom \u2014 and governments don\u2019t want freedom. They want control.\u201d<\/p>\n During the blackout, Spaniards couldn\u2019t use digital payments. But they also couldn\u2019t access their own money in cash. It was a chilling demonstration of how vulnerable modern financial systems have become \u2014 and how quickly your financial privacy can be stripped away.<\/p>\n The move toward central bank digital currencies (CBDCs)<\/strong> adds another layer of concern. The European Central Bank has even promoted a \u201cdigital euro\u201d that could, theoretically, function without internet or power \u2014 a concept Lacalle calls \u201csocial control disguised as innovation.\u201d<\/p>\n When asked what would have helped during the blackout, Lacalle was unequivocal: gold and cash<\/strong>.<\/p>\n \u201cIf you had a gold ring, you could\u2019ve traded it for food,\u201d he said. \u201cYou won\u2019t get food with electronic fiat money during a blackout.\u201d<\/p>\n It\u2019s a reminder that tangible assets<\/strong> still hold undeniable power in real-world crises. Unlike digital money or online banking systems, physical gold and silver can serve as true lifelines<\/strong> when infrastructure collapses.<\/p>\n At ITM Trading<\/strong>, we\u2019ve long warned our clients about the growing risks tied to digital dependency, centralized control, and the erosion of financial privacy. This interview reinforces everything we stand for:<\/p>\n Owning physical gold and silver<\/strong> is not a relic of the past \u2014 it\u2019s a safeguard for the future.<\/p>\n<\/li>\n Taking control of your wealth<\/strong> is essential in an era where trust in institutions is eroding.<\/p>\n<\/li>\n Building a resilient portfolio means planning for the unthinkable \u2014 because, as Spain\u2019s blackout proved, the unthinkable can happen overnight.<\/p>\n<\/li>\n<\/ul>\n What happened in Spain isn\u2019t an isolated event. We’ve seen similar instability in Australia, the UK, and even in parts of North America. As Professor Lacalle warned: \u201cDon\u2019t think it can\u2019t happen where you live.\u201d<\/p>\n If you’re over 50 and looking to protect your wealth, your privacy, and your independence<\/strong>, now is the time to act.<\/p>\n Schedule a free consultation with one of ITM Trading\u2019s precious metals experts<\/strong>. Learn how to build a custom strategy using gold and silver<\/strong> to shield your portfolio from inflation, economic collapse, and government overreach.<\/p>\n Watch the full episode of The Daniela Cambone Show<\/em><\/strong> featuring David Morgan<\/strong>, Professor Daniel Lacalle<\/strong>, and other leading voices in economic preparedness \u2014 only at ITM Trading<\/strong>.<\/p>\n
Featuring insights from Professor Daniel Lacalle on The Daniela Cambone Show \u2013 Presented by ITM Trading<\/em><\/p>\n
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\nThe Blackout That Paralyzed a Nation<\/h3>\n
\nA Warning from Spain\u2019s Net-Zero Push<\/h3>\n
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\u201cThis is the first energy transition in history that is politically designed, that has absolutely nothing to do with technological development.\u201d<\/p>\n
\nThe War on Cash: A Growing Global Trend<\/h3>\n
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\nWhy Gold (and Dollars) Still Matter<\/h3>\n
\nITM Trading\u2019s Perspective: Be Proactive, Not Reactive<\/h3>\n
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\nFinal Thoughts<\/h3>\n
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