This is the second conversation I've listened to with Patrick Vierra. He's a great interviewer who listens to his guests and asks intelligent questions. So reassuring to hear people of good understanding exchanging ideas. Informative and pleasant.
Over 40% of income doesn’t require a job at all. It has nothing to do with producing anything or hours worked, it is an extraction from the real economy. This is the Libertarian/Austrian/Chicago School neoliberal “free market”, the opposite of the meaning Adam Smith and the classical economists intended for the term, which is to mean free FROM economic rent not free FOR economic rent. “It is suggested that the tipping point for being a rentier economy is when 40 per cent of income comes from rent. Even if just interest and dividends are counted as rent, the USA is already at that point.” Standing, Guy. The Corruption of Capitalism (p. 114). 2016
A great conversation, thanks, but (@6.30) I thought the US$ only became fiat currency in 1971, when Nixon took it off the (Bretton Woods?) Gold Standard, so the Fed could print dollars to infinity?
Those 5 characteristics of true money have not changed over 5,000 years. Only modern man could create a digital token, branded as digital gold, and sell it to other modern men. 500 years from now people will have forgotton about the continental... Not worth a BTC.
Yes. Silver, gold, and platinum. You can buy them by the gram and balance out or diversify your holdings amongst precious metals in a simpler, more cost-effective way.
Here's a couple. ship Dali hits support of FSK bridge at 1:28 am on 26th,exactly 128 days before F Scott Keys birthday August 1. Painter Salvador Dali had painting called Broken Bridge. 🤔 Can you say, Intentional! Conspiracy theories are spoiler alerts.
Me thinketh Doug Bitcoins use case was basically its decentralized nature and its limited supply however now with this., ETF we have an unlimited supply and a centralized currency. In other words just another FIAT currency or a ticket for a seat on the......Titanic!@!?🤪😉😜
Patrick, excellent interview and an outstanding guest. Please invite Doug more often. Thank you.
This is the second conversation I've listened to with Patrick Vierra. He's a great interviewer who listens to his guests and asks intelligent questions. So reassuring to hear people of good understanding exchanging ideas. Informative and pleasant.
Thanks for bringing on Doug Casey!
Patrick always has great shows, rock on!!!
Not moving gold easily around the Globe is the very thing that makes it a store of value!
Grear interview. Doug is hilarious and very smart.
Doug can still communicate and idea like no other. Pearls of wisdom ✨
Buttcoin is not transfered instantly. No intrinsic value.
its the ultimate FOMO trap
@@buy.to.let.britain you understand that , why dont others . Some people think it is an actual coin ! 🤣🤣🤣
the clue is the fake gold coin logo.@@darinmullins4770
As per usual Patrick, you are knocking it out of the park with your guests. Thank you sir!!
Welcome!
Doug is AWESOME!
We love you Patrick and promise to watch! Please. We don't need six shorts of a 30 min interview!
Thx...yeah looking to find the right balance between amount of shorts and the spacing of shorts. Thx for the feedback.
I really enjoy listening to Doug, he’s real & knowledgeable. 👍🏽⭐️
Over 40% of income doesn’t require a job at all. It has nothing to do with producing anything or hours worked, it is an extraction from the real economy. This is the Libertarian/Austrian/Chicago School neoliberal “free market”, the opposite of the meaning Adam Smith and the classical economists intended for the term, which is to mean free FROM economic rent not free FOR economic rent.
“It is suggested that the tipping point for being a rentier economy is when 40 per cent of income comes from rent. Even if just interest and dividends are counted as rent, the USA is already at that point.”
Standing, Guy. The Corruption of Capitalism (p. 114). 2016
Great interview Patrick
It is all about the money supply, not the rates!
Look at the ratio XAU/JPY, it seems that the Yen is rapidly losing its purchasing power.
The Japanese are even deeper in debt than the USA.
Thank you.
I think Doug is right at some point the USA will break apart.
Looks like Aristotle's #5 was incorrect
A great conversation, thanks, but (@6.30) I thought the US$ only became fiat currency in 1971, when Nixon took it off the (Bretton Woods?) Gold Standard, so the Fed could print dollars to infinity?
It started in 1913 with the founding of the Federal Reserve. It really got going in August, 1971 when the Dollar was totally severed from Gold.
The funds rate & CPI have no causal relationship!..
Great interview.
It's odd Doug says a CBDC fiat currency is a disaster but A private CBDC fiat currency is something to own.
Those 5 characteristics of true money have not changed over 5,000 years. Only modern man could create a digital token, branded as digital gold, and sell it to other modern men. 500 years from now people will have forgotton about the continental... Not worth a BTC.
Great to know your star grams offer exposure to silver too!
Yes. Silver, gold, and platinum. You can buy them by the gram and balance out or diversify your holdings amongst precious metals in a simpler, more cost-effective way.
@@SilverBullion thanks for adding the silver option!!
How should silver behave during the next recession?
Great talk with Doug. Too many ads popping up 😢
A 50 dollar USA gold buffalo coin is worth 2200 USA dollars lol
You should interview Steve Hanke to understand inflation.
Here's a couple. ship Dali hits support of FSK bridge at 1:28 am on 26th,exactly 128 days before F Scott Keys birthday August 1. Painter Salvador Dali had painting called Broken Bridge. 🤔 Can you say, Intentional! Conspiracy theories are spoiler alerts.
Well, how come they didn't hit it at 1:29am on the 25th?? Or 1:30am on the 24th?? LOL
Re: Soros
One cannot be a proponent of an Open Society & a leftist at the same time!
The bad guys lose less often, then the good guys win.
Timestamps?
How can Japan survive with this debt/gdp?
Do they USE USD per se, or use it as a unit of account in foreign trades?
Are stocks real assets even when they can be diluted?
Now the reserve requirement is zero!
Me thinketh Doug Bitcoins use case was basically its decentralized nature and its limited supply however now with this., ETF we have an unlimited supply and a centralized currency.
In other words just another FIAT currency or a ticket for a seat on the......Titanic!@!?🤪😉😜
Right now, BTC is a risk on asset. A big correction will bring BTC down dramatically.