Most people are aware of inflation. They expect the cost of products and services to go up every year. What these same people may not be aware of is the fact that this perpetual inflation is completely unnecessary.
If the United States had a sound money policy, meaning the U.S. Dollar was pegged to gold (on a gold standard) most of the angst around monetary policy, interest rates, the national debt, out of control government spending, inverted yield curve, negative interest rates, and cryptocurrencies would be nothing but noise.
In this episode we examine the history of a gold standard. We scrutinize actions taken by FDR, Nixon, the Federal Reserve and their impact on the worldwide economy. The bottom line is, because the gold standard constrains the spending of our overlords in Washington, D.C., they will never willingly revert back to that standard. Unfortunately the United States is in for a rude awakening as other countries have started accumulating gold reserves as a way to diversify away from the U.S. Dollar's reserve currency status.
Truth Quest Podcast Episodes:
- Episode #27- The Truth About the Federal Reserve: An Introduction
- Episode #28 - The Truth About the Federal Reserve: The Results
- Episode #56 - The Truth About Libra - Facebook's Cryptocurrency