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Rebel Capitalist News

News: The "Sound Money" Myth

Rebel Capitalist News

George Gammon

Business, Investing

4.71.1K Ratings

🗓️ 22 December 2022

⏱️ 25 minutes

🧾️ Download transcript

Summary

The Rebel Capitalist helps YOU learn more about Macro, Investing, Entrepreneurship AND Personal Freedom.

Transcript

Click on a timestamp to play from that location

0:15.2

Hello fellow Rebel capitalists hope you're well wanted to go over some research I did for today's whiteboard video did it today actually come out tomorrow because a little. But I think this is some research that not too many people have discussed.

0:18.5

In fact, I've never heard anyone talk about it.

0:20.4

And it's some dots that I think are very important to connect.

0:26.3

And like I said in the whiteboard video today,

0:29.4

it really pushes back against some sacred cows.

0:34.4

What I'm referring to more specifically is the, what I think is a myth

0:40.1

that all we need is sound money,

0:43.0

whether that's a gold standard or a Bitcoin standard,

0:46.0

and it pretty much solves all of our problems.

0:49.0

At least it solves the problem of consumer price inflation.

0:54.3

As long as we had sound money, you know, it's kind of like a panacea that we would have, we would

1:01.6

immediately have this

1:05.0

deflation that would, this productive deflation,

1:08.6

that would definitely accrue benefits

1:11.7

to society at large, most specifically the poor and middle class.

1:17.0

The thrust of the idea, and I talked about this briefly yesterday, or I talked about it,

1:22.0

but not to the extent that I'm going to talk about it right now.

1:25.9

My main argument is it is true that M2 money supply, the increase does matter to a certain degree, but it's not the most important thing.

1:36.3

And if we get too hyper focused on just sound money, sound money, sound money,

1:40.2

sound money fixes everything, sound money, if we could just go back to sound money, I think we're missing what is truly at the root of the problem.

1:50.0

And if we're missing that, then I think it diverts our attention away from what we should really be focusing on to increase freedom, liberty, and free market capitalism, and produce an environment where productive deflation is most likely to occur.

2:10.0

So let's go over this and we're going to start with a chart that I believe I went over yesterday

...

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