Oct 14, 2021
Summary:
Central banks come and go; monetary systems go—but hopefully the US
Dollar is forever…right? I sit down with Joseph Salerno to discuss
some of the implications of federal spending—which has increased
exponentially. It is ultimately essential that we take taxes off
minor things in (gold, silver, bitcoin, etc.) just in case the
Dollar does crash. Tune in to hear more insight about what’s to
come with rates, inflation, and our currency.
Highlights:
-Central banks come and go; monetary systems go—hopefully the US
dollar is forever, but we cannot be sure
-Federal spending is out of control—just in the last year, the fed
has added $2.5 trillion dollars to the money supply
-This money doesn’t just drive up prices. It enters the economy and
goes through Wall Street
-Interest rates are being pushed very low which allows the federal
banks to run deficits
-Every time the alarms go off, we step back and don’t resist the
tremendous increase in spending
-We need a competitive currency we can use in case the dollar
collapses
-We need to take taxes off minor things (gold, silver, bitcoin)
-Congress debates are a rush for power, and economic issues have
taken a backseat
-We’re in the midst of national emergency, so economics take a
backseat
-The huge spending is hollowing out our economy, making it less
productive in the future
-The government has shut down large parts of the production
structure, and we are still seeing the effects of this
-If the fed raises interest rates in a serious way, we are going to
have a collapse
-We have to stop increasing the money supply and bring spending
down as much as possible
-The people who have been saving will benefit from this collapse,
or the move back to more realistic pricing
-In this situation, you don’t know what’s happening until it’s too
late
Useful Links:
Financial Survival Network
Mises
Institute