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Mind Pump: Raw Fitness Truth

1270: Peter Schiff on the Post COVID-19 Economy & How to Thrive

Mind Pump: Raw Fitness Truth

Sal Di Stefano, Adam Schafer, Justin Andrews, Doug Egge

Health & Fitness, Fitness

4.8 • 12.6K Ratings

🗓️ 13 April 2020

⏱️ 94 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode, Sal, Adam & Justin talk with well-known economist and author, Peter Schiff, on the likely long-term effect of COVID-19 on the economy.

  • How the medicine may be worse than the disease. (4:21)
  • The difference between money and wealth. (11:34)
  • What causes inflation? (14:43)
  • The consequences of inflation in history. (17:39)
  • His predictions for the economy post-COVID-19. (22:40)
  • Why is the government doing what they are doing? (25:55)
  • Is American life better off today? (31:50)
  • The war on savings and how to escape this inflation tax. (40:15)
  • Keynesian vs Austrian economics. (49:05)
  • The concept of artificial demand and economies of scale. (56:03)
  • What is it to stop a private company from creating their own currency? (1:01:51)
  • What will happen with the US dollar? (1:07:53)
  • Is it smart to buy real assets? (1:12:50)
  • How the government always creates a crisis by interfering with capitalism. (1:15:45)
  • How will this crisis affect the 2020 election? (1:19:20)
  • The COVID-19 impact on human behavior. (1:22:54)
  • The problems with the ‘everything’ bubble. (1:26:01)

Related Links/Products Mentioned

Featured Guest

Transcript

Click on a timestamp to play from that location

0:00.0

If you want to pump your body and expand your mind, there's only one place to go.

0:06.0

MIND, MIND, MIND, UP with your hosts.

0:09.0

Salda Stefano, Adam Schaefer, and Justin Andrews.

0:13.0

So in this episode of Mind Pump, we wanted to bring someone on who could help us understand

0:20.0

the potential ramifications of what's going on right now economically speaking.

0:27.0

Now, luckily for us, we were able to get a hold of Peter Schiff.

0:32.0

If you don't know who he is, he's a very, very well-known economist.

0:37.0

He's been on massive shows like the Joe Rogan podcast and others talking about how our actions affect the economy.

0:46.0

He's famous for predicting accurately, very accurately predicting the 2008 financial crash.

0:53.0

He knows what he's talking about.

0:56.0

We wanted to provide an episode that gave you some solutions.

0:59.0

I mean, besides wanting to avoid this virus from hurting a lot of people,

1:05.0

a lot of businesses are shutting down.

1:08.0

The government is spending record amounts of money to keep businesses open and to provide people with some kind of relief.

1:16.0

He's all has economic ramifications.

1:19.0

Some people are saying that this could cause a real economic crash.

1:24.0

So we wanted the best.

1:26.0

We wanted the best person to talk about what's going to happen and to talk about what you can do to protect yourself.

1:34.0

Now, Peter Schiff has written some amazing books like The Real Crash.

1:38.0

This one's actually quite popular.

1:41.0

He has a website where you can get information on how to invest and how to protect yourself.

1:48.0

It's europack.com.

...

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