4.6 • 683 Ratings
🗓️ 22 April 2020
⏱️ 83 minutes
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0:00.0 | This out here on Wednesday, the 22nd of April. We recorded this back on the 17th last week. |
0:05.4 | We talked with Preston Pish, and we talked about the last 10 years of monetary policy and how |
0:10.2 | the U.S. government has printed money via quantitative easing, which helps equities and makes |
0:15.5 | the rich get richer. It's like socialism at the top, but capitalism at the bottom, because |
0:20.4 | you're seeing all these |
0:21.2 | small businesses go totally bankrupt. |
0:23.9 | You're finally seeing a portion of the CARE Act, the $2 trillion bailout, and there'll be many |
0:28.1 | more, by the way, go towards UBI, universal basic income for us at the bottom. |
0:32.9 | But QE and UBI work together at the top and the bottom. |
0:35.6 | But historically, we talk about why it's been socialism at the top and the bottom, but historically we talk about why it's been |
0:37.6 | socialism at the top and capitalism at the bottom. Next, we talk about populism. What did Bretton |
0:44.2 | Woods and the populism in Germany after World War I based off the Treaty of Versailles and the rise |
0:50.1 | ultimately that led to Hitler, what does that have to do with today? And the clash of the have |
0:55.2 | and the have-nots and nationalism and isolationism. We talk a lot about that. And lastly, we talk |
1:01.8 | about the downfall of fiat. When money is getting printed all over the world, the money you and I |
1:06.9 | hold becomes less valuable. So I said, what will happen? And he gave me three answers, |
1:11.2 | a new global reserve, an SDR via the monetary fund. We talk about that. Or number three, Bitcoin, |
1:16.8 | or another tech, decentralized, you know, enabled, decentralized system for monetary policy. But |
1:23.9 | there are certainly no more Adam Smith invisible hand. We've got the U.S. government picking which equities to boost. A lot of stuff happening. PPE funds are out. 16 million |
1:32.1 | unemployed. We talk about all of it, including oil. What happens to oil? Enjoy the episode, |
1:37.2 | guys. Hello, everyone. My guest today is Preston Pish. Now, Preston and I go back a little |
1:44.0 | bit. There's a little dull moment in |
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