The World's Fiat Currencies Are Failing. How Much Longer Do They Have? | Mike Maloney

GET MIKES NEW BOOK at ggsr21.com/
Two questions I get asked often are:
What's a compelling investment opportunity right now?, and
Can you recommend any good books on wealth-building?
I'm happy to be able to kill two birds with one stone in today's discussion.
This week, precious metals expert Mike Maloney is releasing a brand new book, "The Great Gold & Silver Rush of the 21st Century" and I've just finished reading my advance copy.
It's extremely well-written & researched and I'm going to ask Mike to delve into several of its most important insights.
Go read 2 free chapters from Mike's new book, or just buy the whole thing at ggsr21.com/
________________
At Wealthion, we show you how to protect and build your wealth by learning from the world’s top experts on finance and money. Each week we add new videos that provide you with access to the foremost specialists in investing, economics, the stock market, real estate and personal finance.
We offer exceptional interviews and explainer videos that dive deep into the trends driving today's markets, the economy, and your own net worth. We give you strategies for financial security, practical answers to questions like “how to grow my investments?”, and effective solutions for wealth building tailored to 'regular' investors just like you.
There’s no doubt that it's a very challenging time right now for the average investor. Above and beyond the recent economic impacts of COVID, the new era of record low interest rates, runaway US debt and US deficits, and trillions of dollars in monetary and fiscal stimulus stimulus has changed the rules of investing by dangerously distorting the Dow index, the S&P 500, and nearly all other asset prices. Can prices keep rising, or is there a painful reckoning ahead?
Let us help you prepare your portfolio just in case the future brings one or more of the following: inflation, deflation, a bull market, a bear market, a market correction, a stock market crash, a real estate bubble, a real estate crash, an economic boom, a recession, a depression, or another global financial crisis.
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IMPORTANT NOTE: The information and opinions offered in this video by Wealthion or its interview guests are for educational purposes ONLY and should NOT be construed as personal financial advice. We strongly recommend that any potential decisions and actions you may take in your investment portfolio be conducted under the guidance and supervision of a quality professional financial advisor in good standing with the securities industry. When it comes to investing, past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All investments involve risk and may result in partial or total loss.

[@Wealthion]

Lock in the Early Bird price discount for Wealthion's online conference on March 18, 2023 at wealthion.com/conference

[@issenvan1050]

Why don’t you use timestamps?

[@rogerburn5132]

Adam. Mike is The BEST Guest You can have and Afcorse he is your friend to. I will NEVER forget Mike's "" Hidden Secrets of Money "" this is the best there is in finance. BIG THANKS FOR TALKING TO MIKE 👍👍👍👍👍

[@rogerburn5132]

Nobody Can Ever Trust in Fiat paper currency. Prined by "" Man " Humans always abuse the privilege and print More and More until the all system collapse. China was the first in the 13 century with printing Fiat currency and ended in Hyperinflation. Many more cases in history Weimar Republic Hyperinflation in the 1920. Hungary in the 50 s. Venezuela and Zimbabwe. Only Gold and Silver Has managed to keep their value over thousands of years and it will stay that way . CBDC will be NO difrend than the Fiat currencies just digital. Endless supply of digits. Thanks for reading my comment.

[@sang3Eta]

​@Northern Lights When Britain was on the gold standard 1821-1914, there was no inflation for 93 years, and by 1914 a house cost just 2x the average wage!

[@bradhartman7090]

​@@issenvan1050 qq

[@andresbard]

I've seen people make seven-figure profits in both declining and rising markets; it all depends on the information and methods used. There is no doubt that the recession and crisis have benefited some people significantly.

[@danieljackson87]

I try to see a financial coach before making any investment decisions because of this. I've been using one since the pandemic outbreak because their entire business strategy is based on trading long and short at the same time, employing profit-driven strategies and reducing risk as a safeguard against unavoidable downtrends. Furthermore, because they have access to insider information and analysis, it is practically impossible for them to perform poorly. I made over two million dollars after nearly three years of training with a coach.

[@andrewlogan7737]

@@danieljackson87 I have been involved in all of them for a very long time, even though I won't pretend to have made or lost a fortune in any of them. If you know of a specialist who offers a range of financial options, please let me know. You can count on hearing from me.

[@danieljackson87]

@@andrewlogan7737 Funny that you brought that up since I completely understand. Look into Ruth Loralann Brennan; she received a lot of press in 2020. I'm not sure I can put this into words. My portfolio is also managed by her.

[@philipcooper1636]

Today's inflation is a result of corporate avarice, not only problems with the supply chain. We know that the money obtained by the higher prices isn't being transmitted along the supply chain since businesses are reporting record profits. More pricing result in increased revenue for businesses, which stays with them and goes into their pockets. We can rule out supply-related inflation because of this. If your stocks are extremely weak, now is an excellent opportunity to take a battered 401k and convert it to a Roth. Then, your Roth will be tax-free, and you will just have to pay taxes on the substantially reduced current values.

[@peggyturner2431]

@Jake Farmers Well, the best professionals have access to exclusive data and information that is not made available to the general public. Knowing the tactics to employ at this time is one thing; having the knowledge necessary to put them into successful practice is quite another.

[@stevenbergwin5074]

@@peggyturner2431 I delegate my daily investing decisions to an investment advisor because their entire skill set is concentrated on being both long and short at the same time, adopting a profit-driven strategy and removing risk as a hedge against the inevitable downtrends. When combined with exclusive insights/analysis, it is incredibly impossible not to outperform. I've had a relationship with an investment advisor for almost two years, during which time I've generated a return on investment of more than a million and five hundred and seventy thousand dollars.

[@anthonymilner1088]

@@stevenbergwin5074 You are right! I diversified my $500K portfolio across various market with the guidance of an investment coach, I have been able to generate a little bit above $1m in net profit across high dividend yield stocks, ETF and equity during this red season in the market But the truth is that you cannot do that without a tested trading strategy

[@anthonymilner1088]

@richszabo4693 I am being guided by "Donna Di lanni" who I found on a CNBC interview where she was featured and reached out to her. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care supervision.

[@BlackHairandSkinCare]

sell

[@mrjb8502]

Over the last 10 years gold is down 44.8%, silver is down 29.3% and the S&P 500 is up 161.8%. If price stability is a requirement for money, precious metals fail miserably. I say this with deep regret because of the negative impact gold and silver investments have made to my retirement portfolio.

[@BlackHairandSkinCare]

the whole system is a scam... self substainability is key!

[@stevemace1725]

What appears down is actually suppressed, if you can hold onto it without confiscation, it will explode in price.

[@gavintfrye]

Mike is a true national treasure. He’s a massive contributor to me getting into gold (and silver) and having enough confidence in my purchases to do something that felt counterintuitive when I first started. Now holding currency feels like a hot potato and gold feels like the natural way to store my wealth.

[@CDBesetsny]

Correct.

[@stevemace1725]

Maybe, if it don't become illegal to own.

[@briannewman6216]

Mike nails it. He is one of the few people who understands that QE causes asset inflation. The other aspect of this process is that asset inflation eventually results in consumer price inflation. Keeping a lid on consumer price inflation that is being pushed up by asset price inflation will be very difficult for central banks.

[@stevemace1725]

Well said

[@scottiswatchingtele]

their goal is not to control inflation. they are there solely to permit corruption & the public to accept inflation. the fed is controlled opposition & part of the WEF & Global Government.

[@margator1036]

There was a joke during the Carter Administration, "don't you want a $100,000 car or a $1,000,000, 000 house"? Now very common place. Guess the joke is on the American citizen now.

[@not_sure...]

10 years to write, a lot of work put into this book, and a guy on Amazon left a bad review because it "costs too much" 😂. I can't wait to read mine, I'm sure it's worth it's weight in gold!

[@Goldsilver]

Yes, that is quite a kick in the nuts. This version is full color, but we will do a standard black and white print run later this year.

[@calebfast8088]

Lol So many idiots leaving reviews on Amazon.

[@lisandroCT]

​@@Goldsilver Good thing that mice kicks don't affect giants, Mike. You're a giant. Thank you for your work and this book.

[@not_sure...]

@@Goldsilver yeah really unfair that Amazon allows reviews from people that haven't purchased a book, let alone read.

[@jefftri]

Was Paul Krugman the guy that left the bad comment?

[@massonh7476]

WEALTHION is the best thing ever happened to retail investors like me. 👌

[@josephpatrickreason1222]

The problem we now face in this fiat money environment is not only that monetary policy has become corrupted by the state’s self-interest, but that no one in charge of it appears to understand money and credit. Technically, they may be very well qualified. But it is now over fifty years since money was suspended from the monetary system. Not only have policymakers ignored indicators such as Gibson’s paradox. Not only do they believe their own statistics. And not only do they think that debasing the currency is a good thing, but we find that monetary policy committees would have us believe that money has nothing to do with rising prices. All this is facilitated by presenting inflation as rising prices, when in fact it is declining purchasing power. Mike Maloney explained clearly that aspect .

[@auntiefiat9769]

Love Mike Maloney. Always worth listening to. Thanks Adam!

[@kenzeng2]

Good economy doesn't mean must have a strong stock market. Most of time, strong economy often has weak stock market.

[@GringoAzteco]

Gold is feasible as a store of value only up to a point; for the average investor it can function as a preservation of net worth (as opposed to the average person who may have zero or even negative net worth). For example, say an investor has $1 million they wish to convert to gold, $1 million @ $2000/oz AU = 500 x 1 oz coins. This is an amount that can fit in a shoebox and can be stored in the residence or some other secure location. However, consider someone with $10 billion net worth who wants to convert just 10% of their cash/assets/wealth to gold ($10 billion x 0.1 = $1 billion). So now, doing the math on that: $1 billion @ $2000/oz AU = 500,000 x 1 oz coins. This is not a realistic amount to keep at a residence, even if converted to bullion bars (400 oz per bar, thus it total 1,250 bullion bars). Keeping this at the residence would be equivalent to placing a billboard with a giant bullseye 🎯 on it right outside the house. No one with any sanity would invite that type of risk, so it must then be kept in a bank vault. As the saying goes, however, “ If you don’t hold it, you don’t own it. “

[@Buckaroo801]

I think you need to bring on guests like Michael Darda. People who have been very spot on with their forecasts with no biased tether to an outcome.

[@mattanderson6672]

What a fantastic interview!! Really enjoyed listening to Mike Thank you for having him on!

[@padimills1494]

When the gov't imposes the cbdc our fiat paper currency will become worthless. So I bought lots of gold and silver because it is a store of value. But I am now worried that they won't let us cash in our gold or silver for the currency in fashion.

[@DjmMik]

Ignore Mike’s message at your own peril. Great interview!

[@LibertyDIY]

Thanks Mike you got me started just ahead of 2008

[@bruce5895]

you know what they say, gold and silver are real money and all the rest is just credit living on borrowed time

[@kyles2232]

You better have more bullets than gold ;)

[@bruce5895]

@@kyles2232 I would never shoot anybody and do not own a gun, if I were to be robbed it would be no contest as I would just throw the money on the ground and walk away. I am always with other people and are in a safe neighbourhood with a good police presence. One person did get robbed at 2 am in the morning and they got him the next day. Where I live crime does not pay.

[@kyles2232]

@@bruce5895 none of that matters if the dollar implodes is my point. If you're buying gold because you expect financial disaster....it'll get taken from you pretty fast

[@timsandman]

Thank Adam and Mike. I really have learnt a lot from Mike over the years. Great Guy! 🙂

[@davidcollins8150]

Value = Leaving the world a better place than how you found it and enjoying the journey along the way. Aspire to being charitable and kind whenever possible

[@makk1971]

Good job Mike 👍🏽 Adam, I enjoy your interviewing style, especially how you reword and sum-up segments from the person you are interviewing 👍🏽

[@jordanaraujo2579]

There's nothing wrong with being prepared. No one criticizes people for having fire extinguishers and first aid kits. You don't use it great. You need it and don't have it.....

[@AK-pu2gm]

Money being created when loaned against an asset makes it asset backed which I think is a good thing. You also need the monetary base to increase when there are more people and wealth to keep the value the same. Problem is when the government keeps creating it backed by their debt

[@ChrisGenXer]

This was an AMAZING interview. Just bought the book and can not wait to start reading. Thank you for brining such dynamic content to your channel .

[@Goldsilver]

Thanks, I hope you enjoy the book.

[@godsservant2835]

Adam, I was thrilled to see you have Mike come on to unpack his book. Thank you very much!

[@edwardtucker8219]

Mike Maloney is outstanding, Adam. Thank you for having him on. He gave us a lot to prepare ourselves going forward.

[@LoricFox]

Love me some MM❤

[@FRYEGS6]

Mike Maloney, I was listening to you back in 200- 2008 - "What is real Money/Seven Stages to failure of a Fiat Currency" - I could not get a single soul to listen to me, no one wanted to pay attention/was not interested. WELL SIR HERE WE ARE IN 2023 AND EVERY SINGLE THING YOU SAID HAS COME TO PASS. I HOPE THEY ARE LISTENING TO YOU NOW. GOD BLESS YOU.

[@lazybearish]

Outstanding work by Mike. I’ve seen so many of his videos. With the nuggets he dropped in the brief explanation about “doppelgänger dollars,” now I can better understand why Main Street inflation was not nearly as evident or pronounced in the decade after the GFC, while stock market assets more or less skyrocketed.

[@elonmuskox4305]

Thanks for exposing the central bank criminals, Mike.

[@eero6326]

The trolls seem to have steam. Do I sense some desperation in the air? Just look at the charts rn. Glad to see you both. Go for it!

[@aguywhohikes1271]

- Ordered the book today 💪 thanks for everything guys

[@MichaelHarrington17]

The value of the fiat US$ is backed by everything one can exchange a US$ for: US land, real estate, capital and consumer goods, US businesses, etc. The public debt merely has to be serviced through the tax take, not paid back. The policymakers would argue that the expansion of US$ credit is not problematic if it increases productive investment and the production of more valued US$ assets. Unfortunately we can measure this, as Mike argues, through the productivity of that debt in terms of GDP, or the ratio of total debt as a share of GDP. Both measures have been declining, revealing the limits of this policy. It needs to reverse with a controlled deflation, which means declining private wealth. Yes, there is no escaping the reckoning to economic realities.

[@davidglaser1030]

The overwhelming majority of US citizens are unable to afford the purchase of land, real estate, sustainable businesses, or capital and intrinsically valuable consumer products without borrowing the funds. Is this productive investment creating more $ assets, or only a fair trade with no future value added by the new owners?

[@MichaelHarrington17]

@@cryptoscool No, they are not doing the right thing for the long term health of our society and economy because they are promoting a massive wealth transfer to the top asset holders. But the policymakers serve the status quo. Generously, one could say they are stuck in path dependence.

[@MichaelHarrington17]

@@davidglaser1030 that’s not exactly true. Home ownership is benefitting the 65% who own their homes with protection against inflation and a ridiculous asset bubble. And almost all working Americans own US businesses through their pensions and 401Ks. The asset poor are taking the brunt of bad policy. The investment of subsidized credit is not productive according to the growth of gdp relative to debt, but that is their rationale. Our policy elites have failed miserably by advocating borrow and spend monetized by the central bank. Merely kicks the day of reckoning down the road. But by keeping the game going they probably think it’s a success.

[@davidglaser1030]

I didn’t know those stats. Thank you Michael

[@T4nkcommander]

​@@MichaelHarrington17 We are going to see huge house deflation these next few years tho, so at least on that front there will be no protection. My new co-worker already lost $50k on the house I told him not to buy, just because he bought at the peak of 2022.

[@garrybuckley1503]

I don't mind money being created out of nothing as long as that money that is repaid goes to creating a better life for the majority of the population not just the fraction of 1% as it does now

[@radicalveg00]

There's 55x more currency, but isn't there 55x more debt as well? That is the fly-in-the-ointment which makes predicting what will happen so difficult. It's the massive debt that looms large, and the associated interest payments, and until it's defaulted on, it serves to suppress the price of gold, don't you think? And if a tsunami of defaults begins, a lot of stuff will be for sale at any price. Until everything is liquidated and safely in the possession of the oligarchs, only THEN do I think assets like gold go higher. The oligarchs want to pay pennies on the dollar for everything, including gold, and the system is designed to make that happen.

[@GringoAzteco]

Good point

[@schlemmermaul5224]

Please do another segment on how loans imagined by the banks and subsequently sold to Fed as MBSs equate to 50% fractional reserve bankning.

[@dankurz7675]

Good stuff, thanks Mike and Adam. One addendum on the gold supply increasing on average at about 1.5% and the population at 1% and thereby yielding a 0.5% annual expansion in a gold-based money supply also known as inflation: productivity growth has averaged about 1% pa over roughly the same time period you mention or infer, thus if we truly had gold-backed or silver-backed currency (historically at 40%), we would have seen nominal deflation/enhanced purchasing power, which was the American story prior to the creation of the currency-debasing Fed.

[@paulginsberg6942]

Mike Maloney is the best financial educator bar none. You yourself Adam are rising toward the top of that list. Well done.

[@geoffreyzeger8630]

Both of you guys ROCK! I commend your (both of y'all) review of the issues below the issues - is there such a thing as the macro of the macroeconomics? Keep up the great work and the posting of solid information!

[@bretgreen5314]

Thanks so much Adam; Mike Maloney is the best. Every time I see him I gain massive new insight. One thing that got my attention this time was his mentioning the stats on the growth of the number of millionaires and billionaires since the 1970s. Can that be where some of the hidden inflation has gone? Absolutely it has. I never considered that bubble before.

[@charlessharrardiii7086]

if we revalued gold and cancelled the debt, could we eliminate the old system and create a new stable one?

[@mohammedqureshi8720]

I love mike malony

[@SimSiya]

Great conversation @Wealthion @Mike Maloney. I love conversations about our personal finance future!

[@EDUARDOGONZALEZ-sb7bl]

Amazon says the book is unavailable. Excellent interview Adam (as always).

[@mariuszszwarc4069]

Lots of predictions from a lot of people , some of them may even come true

[@BatmanBoss]

Wealthion 🏆

[@Lexman00]

Mike is a good man. God bless him for looking out for the people that don't know what this system is about, and educating them.

[@declancarolan2789]

Great podcast well done Mike getting a copy of your book

[@franksinatra1070]

Hey Adam can you update your Rumble feed. I prefer that platform.

[@Adrian-db6ze]

I am going to buy this book now.

[@user-99.99]

Great interview. Thank you. Can’t wait for the book. Really hope there is a audiobook version.

[@lambertois11]

Before spending money on a book, you must ask yourself the following questions : Will I take the time to read all the book or will the book accumulate dust in y book shelf? Will I take actions after reading the book? I learn a lot in investing by listening to the Warren Buffet videos. They are free and there are available on KZbin. ''"Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future."'' "Keep things simple and don't swing for the fences. When promised quick profits, respond with a quick "no."

[@BatmanBoss]

Mike and Adam 🥇🥇

[@celesteplowden964]

great interview!!!!

[@longbeachboy57]

Why does not this guy get Nobel prize in economics???

[@tuhingatoha1134]

I have unashamedly been Mike's Number One fan since I read his first book - and I have a permanent copy of it on my computer which I still refer to today. He not only talks...but he walks the talk and that is evidenced by his "free" Chapter's 3 & 4 of his new book. Mike has proven his integrity time and again and nobody has thanked him more than me for the education he has given me. Thank you Sir!!

[@Goldsilver]

Thank you Steve, much appreciated.

[@daviddeveloper44]

Mike Maloneys timing was way off in his first book. he predicted destruction of the fiat dollar NLT 2019-2020.

[@snapsynapse]

So...how much gold/silver does it cost for the new book? Big fan, love Mike's impressive work! Yet it seems to undermine the otherwise fantastic points that this isn't offered yet.

[@robertpace901]

My experience with determining the next greatest investment has shown me that it's not telegraphed on every alternative news and opinion channel like gold and silver has been for the past 6-7 years. For example, the insiders knew that the vaccine pharmaceutical companies were going to be the best places to be for 2020-2022. Those early big pharma investors all got in before the chasers did because they didn't broadcast it to world before covid hit the marketplace.

[@REASONFORTRUTH]

Excellent episode

[@hamishmaclean3920]

why no Kindle edition...please ask Mike this.

[@jmcmob608]

Thank you very much...

[@ChancetheCanine]

Micheal says a bright future, like as bright as a burnt out light bulb 💡!! Some many think it won’t be different this time, well we shall see how that works out!!😊

[@johnwoodhead5950]

The last paperback book I bought was the silver manifesto,if this book is half as good as that this will be a excellent paperback book

[@DavidASymons]

Mike is ballin' - look at his background! Must be his home. Gold DOES pay!

[@robertparker9157]

For well over a decade, I’ll be hearing the same comments the same people analyze the markets, the dollar gold, and silver can’t they actually say when will there be some real action I emphasized the word real , real moment in the gold and silver market silver should be at a minimum of $150 a and go at $3500 ounce

[@Carlos-im3hn]

Thank you ! see today's UK 30Y Gilt rates .... to the moon. just like Summer 2022...here we go !

[@bobmooreification]

When you sell your Precious Metals what Currency do you accept ?? or do you trade for something tangible such as Real Estate or Commodities ?????? If the Currency becomes Worthless such as the Weimar Currency ?? Then What ?

[@greggilmore9284]

Great job. Thank you.

[@garylobel740]

IMO ... Currency supply is only important relative to supply of 'products'. 'Products' are the (available) supply, and 'currency' is the (potential) demand ... balance between these (not the absolute amount of currency) seems the important issue to inflation. Note, the modifiers 'available' & 'potential' indicate only execution of transactions actually contribute to inflation (i.e. currency not spent/products not bought, have no contribution to inflation)

[@donwhizz7880]

Retirement is wonderful if you have two essentials - much to live on and much to live for. Invest wisely and get good returns.

[@stevenjuan259]

thank you, can you give a pointer the best investment now ? i am thinking of getting stocks or cryto

[@josephlee4001]

The key to making money in stocks is not to get scared out of them. An important key to investing is to remember that stocks are not lottery tickets. get a financial assistant

[@emilysmith5287]

Can you give a pointer ?

[@josephlee4001]

I currently work with Jackson Sten Marsh, a financial expert i met in a seminar

[@denisdavid342]

I recently watched Jackson Sten Marsh on TV , such a great speaker . but have you made any profit whatsoever working with him ?

[@jonimitchell5646]

God Bless both of you 🙏

[@Jerry-gi2lj]

Great guest!

[@ronfesta771]

Me thinketh it seems every second person is writing a book which are useful as doorstops however how refreshing it is when we get one from an., seasoned expert like........Mike Maloney!@!?😉😁

[@Iliinois18]

Unfortunately with digital currency being implemented gold,silver and all other monetary currency will be obsolete.

[@T4nkcommander]

Is it beneficial to use gold as the transition medium when they force us over tho? We won't know until it happens I guess

[@carlpoppa1788]

Not all boomers are bad, but the boomer generation failed us

[@foxmoongaze]

most boomers were just trying to survive in the world they were presented with, they didn't necessarily have it any easier, or were in any position to change it. What should a particular "boomer" have done? I see the two world wars and the Vietnam war as being bigger influences.

[@caseyrindal1815]

The government failed us

[@carlpoppa1788]

Most of the boomers I've known simply went yolo. They just put themselves first, kicked out the kids, sold their homes, businesses, just completely cashed out. I grew up in a nice suburb and now it's immigrants whose families stick together and buy properties/businesses without intention of ever selling.

[@foxmoongaze]

@@carlpoppa1788 I don't understand why people relate to "boomers" as though they are a different class of people. They are just the same as you, me and everyone else - they grew up in particular economic conditions and got on with their lives in that environment. Just as people who lived through the boom of the late 1800s, the depression, WW1, WW2 etc.......

[@carlpoppa1788]

@@foxmoongaze It's the first generation that left this country in worse shape than they received it.

[@kulturfreund6631]

In Germany on November 19th 1923 1 kg of rye bread was 233 billion Marks. 1 kg of beef was 4.8 Trillion.

[@mgiblonski4318]

Correction Mike.....you don't ever own your own home, even once the final mortgage payment has been made. I'm sure there's an equivalent in the US, but here in Australia we have property rates.......stop paying those and see how you go maintaining ownership of the house!

[@CDBesetsny]

Most Excellent Discussion. Pragmatic and Based. Yeoman's work; Many Thanks.

[@pimpogrenudo1]

Thank you

[@nelsonp.479]

This is definitely the best KZbin channel

[@GuyIncognito764]

Fun point: that star trek episode was titled "The Trouble with Tribbles". They really don't like Klingons either, but I'm not sure how that relates here.

[@MylesGmail]

Good channel. Thank u

[@FreshMatty22]

Adam, I love the show….but I am starting to think you are a perma bear. I’d love to hear the perspective of someone who says things are great

[@clintonlunn4357]

The gold standard sounds good, but can you imagine hearing the treasury department say, "im sorry, but the economy can't grow this year because gold miners claim there is no new gold to be mined. Hopefully next year the economy can grow." I invest in gold, but here is no perfect system.

[@hughjass7914]

If all anyone takes away is that monetary stats must be discounted both by CPI and population the crucial hurdle has been cleared.

[@allen4353]

Best video in your ongoing series.

[@robertratz5305]

Great show.

[@entendreentendre3734]

Mike: Get an EMF detector and see how it reacts in your electric vehicle. Brilliant discussion.

[@philipdurling1964]

Linnets Zang seems to have a pretty good idea about what's going on.

[@BrianFrenchinternet-marketing]

I like to look at the decor of "experts" nice to see someone who has good taste. Yeah, it matters.

[@kenzeng2]

Wall Street and market makers continue to pump the market with their credit cards. I continue sell and make profits. They pump, I dump, let's see how high their credit lines is and how much borrowing cost they can afford. Haha, gotcha!

[@scottperkins3696]

I wanted an inflation hedge and after checking around I find that the round trip cost to convert dollars to gold and back to dollars when needed can be from 11 percent to 15 or 16 percent. Remember to add in shipping and insurance costs if buying online and in some cases local coin shops charge sales tax which adds even more. That means today if I buy gold it will have to appreciate approx $225 to $265 just for me to break even ! That means instantly after the transaction to buy gold I lose 11 to 15 percent. I cannot rationalize how this is a good investment unless I think the dollar is going to drop to near zero which I dont thing it will completely collapse.

[@dasteam7015]

Mike video and explanation from 10years ago got me realise how our economy is planned,,soon the people realise,,banking and property sector will collapse. Keep prepping also guys

[@rb-go7fg]

Depends on what you do with the currency . if you save it its not a store of value as defined by Mike.

[@heidihelo5773]

The Tribbles reference got me. Loved this podcast. ❤️

[@austinmorgan5669]

I keep hearing really smart people say that gold is a store of value and it just isn't true, or at least hasn't been in recent history. If eggs double in price and the price of gold doesn't double as well, you didn't store any value. If homes 10x in price, but gold only went up 30%, you didn't store any value.

[@theonlyconstantischange123]

Gold doesn't track the CPI but it does hold well against a barrel of oil for hundreds of years. Fiat definitely can't say the same

[@austinmorgan5669]

@@theonlyconstantischange123 that's a pro. I guess my point is that we trade our labor in the market for a price that we agree to and then hope to be able to trade the value of that labor (paid in dollars) for other goods and services. If we trade labor and then five, ten, thirty years later we can't buy the goods or services at the rates we were expecting when we sold our labor, then neither the dollars nor the gold stored any value. You're saying a barrel of oil held which is good since it's an input into everything, but people don't care about oil they care about housing, food, transportation, and entertainment. All of which have not held.

[@theonlyconstantischange123]

@@austinmorgan5669 yea I hear u, I was just giving the opposite side. That long term correlation is great for financial managers overseeing generational wealth or large bank balance sheets looking for reserve assets. But ur correct, the only use of gold for the average person is a hedge against Zimbabwe Weimar level debasement. Even the long term oil gold correlation swings quite a lot so I'm with u on this as well, it's not as great as gold bugs make it out. I've personally gone into the deep end of crypto and am a huge fan of the composability and creativity endlessly aimed at developing equitable financial solutions for the world. So in a sense I feel gold has gotten it's lunch eaten and it's become antiquated. Interesting times

[@jamiebowen7315]

What is SOL. ?

[@asepehr1]

Adam said that one way the money supply decreases is when there are defaults on loans. Can someone please explain that to me. Because if I'm thinking it through correctly, I would think that defaults would actually keep the lent money in existence. It's the repayment of loans that would seem to pull money out of circulation and decrease the money supply. In other words if the loan created extra money, it would take the opposite (repaying the loan) to extinguish the money.

[@gavintfrye]

I believe he was specifically speaking of the government. But I’m not exactly sure. It would seem like pulling money out of thin air to loan would actually increase the money supply.

[@gavintfrye]

Also a default would eliminate the interest owed. Which is the real currency creation.

[@nxnowinners1]

A good title: Dude what happened to my pay check!

[@faithsrvtrip8768]

$39 for his book and no Kindle version is available. To be honest I'll read the free chapters and wait for a cheaper Kindle version. I live in an RV and space is limited. So is my budget!

[@fjb7380]

Excellent valuable discussion. 💵