4.6 • 1.6K Ratings
🗓️ 5 April 2022
⏱️ 35 minutes
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0:00.0 | Hey everybody, this is Phil Town. |
0:12.3 | And this is Daniel Town. |
0:13.8 | All right, welcome to the invested podcast. |
0:15.8 | We're on podcast 363. |
0:19.1 | And this is very exciting. |
0:20.1 | We're glad we're here with you guys today. |
0:21.8 | We are hammered away at a really wonderful, wonderful problem, wonderful topic. |
0:26.7 | I like that. |
0:28.5 | Obviously, the world has been in the longest economic expansion in modern history, probably |
0:41.1 | ever, 14 years now, driven by enormous government central bank interventions with both fiscal |
0:51.8 | and monetary policy to prevent a recession. |
0:56.5 | They've been preventing a recession, typically we have a recession every seven years on average. |
1:01.9 | And now it's been 14 and far from having discovered how to permanently prevent a recession, |
1:09.4 | what they've done instead is devalue paper currency. |
1:12.9 | And they are printing currency as never before in modern American and European history, although |
1:21.7 | I guess if you consider the 1920s modern history, Germany printed currency even more than |
1:27.4 | they're printing now with the same kind of ultimate disastrous results that they keep |
1:31.7 | it up. |
1:32.7 | And that is you devalue your currency to a point where nobody will take your money for buying |
1:38.7 | anything. |
1:39.7 | Yeah, that's not a good comparison. |
1:40.7 | You're talking about the VIMA Republic? |
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