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The Jordan Harbinger Show

1279: The Gold Standard | Skeptical Sunday

The Jordan Harbinger Show

Jordan Harbinger

Education, Science, Business

4.8 • 12.3K Ratings

🗓️ 1 February 2026

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Could returning to the gold standard fix inflation? Nick Pell explains why this shiny solution might not be all it's cracked up to be on Skeptical Sunday.

Welcome to Skeptical Sunday, a special edition of The Jordan Harbinger Show where Jordan and a guest break down a topic that you may have never thought about, open things up, and debunk common misconceptions. This time around, we’re joined by writer and researcher Nick Pell!

Full show notes and resources can be found here: jordanharbinger.com/1279

On This Week's Skeptical Sunday:

  • The gold standard wasn't some ancient monetary relic — it only emerged in 1821 when Britain pegged the pound to gold, with most industrialized nations hopping on board by the 1890s. It was abandoned during World War I because governments simply couldn't fund the war while maintaining gold convertibility.
  • Today's global economy is roughly $115 trillion, while all the gold ever mined is worth about $28.5 trillion — roughly a quarter of global GDP. This massive mismatch means returning to gold would require either revaluing it to astronomical prices or causing catastrophic deflation.
  • The appeal of the gold standard isn't really about the metal itself — it's about trust. People are drawn to money that doesn't depend on government promises or political whims. Gold represents certainty in an uncertain world.
  • A return to gold would likely benefit net exporters like China while punishing net importers like the United States. Trade imbalances would transform into gold hoarding, creating constant liquidity crises that global commerce simply couldn't survive.
  • The desire for "sound money" isn't misguided — it's the solution that's flawed. Better monetary policy rules, multi-asset pegs, or systems like Switzerland's debt-repayment requirements could provide the discipline people crave without nuking the world economy.
  • Connect with Jordan on Twitter, Instagram, and YouTube. If you have something you'd like us to tackle here on Skeptical Sunday, drop Jordan a line at jordan@jordanharbinger.com and let him know!

And if you're still game to support us, please leave a review here — even one sentence helps!

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Transcript

Click on a timestamp to play from that location

0:00.0

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Along with chauffeur-driven airport transfers and the Emirates Lounge, it's a better way to do business.

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0:29.1

Welcome to Skeptical Sunday. I'm your host, Jordan Harbinger.

0:32.9

Today I'm here with Skeptical Sunday co-host writer and researcher Nick Pell.

0:36.5

On the Jordan Harbinger show, we decode the stories, secrets, and skills of the world's most fascinating people and turn their wisdom into practical advice that you can use to impact your own life and those around you. Our mission is to help you become a better informed, more critical thinker, and during the week we have long-form conversations with the variety of amazing folks, from spies to CEOs, athletes, authors,

0:55.3

thinkers, and performers. On Sundays, though, it's skeptical Sunday. A rotating guest co-host and I

0:59.9

will break down a topic you may have never thought about and debunk common misconceptions about

1:04.1

that topic, such as diet supplements, ear candling, self-help cults, ban foods, GMOs, diet pills,

1:09.9

and more. And if you're new to the show,

1:11.5

or you want to tell your friends about the show, I suggest our episode starter packs. These are collections of our favorite episodes on persuasion, negotiation, psychology, disinformation, junk science, crime and cults, and more that'll help new listeners get a taste of everything we do here on the show. just visit jordanharbinger.com slash start,

1:28.5

or search for us in your Spotify app to get started. Today on the show, the United States

1:32.7

currently has an inflation rate of 2.9%. Now, that's not too bad, especially when you consider

1:38.5

that the inflation rate peaked just three years ago at a 40-year high of 9.1%.

1:44.3

One of the interesting things about the modern economic system is that inflation is considered

1:48.5

good if it's managed properly and most importantly if it's predictable.

1:53.1

In fact, economists often issue dire warnings about deflationary spirals where the cost

1:57.5

of goods drops too quickly, resulting in significant damage to the economy.

2:01.9

China is wrestling with a deflationary problem as we speak now.

2:05.2

You might have encountered memes or infographics online about the long-term effects of inflation

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