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The "What is Money?" Show

The Beauty of The Gold Standard | The Twilight of Gold Series | Episode 5 (WiM150)

The "What is Money?" Show

Robert Breedlove

Bitcoin, Breedlove, What Is Money, Investing, Rabbit Hole, Cryptocurrency, Money, Finance, Education, Robert Breedlove, History

4.8710 Ratings

🗓️ 5 March 2022

⏱️ 54 minutes

🧾️ Download transcript

Summary

My friend and fellow student of money codenamed "Lester" joins me for a multi-episode conversation exploring the excellent book "The Twilight of Gold" by Melchior Palyi.

Transcript

Click on a timestamp to play from that location

0:00.0

Well, it's been a tough world because we've been living in, we've been living among

0:12.0

nations where the competitive advantage comes from printing money to finance a military adventure.

0:18.6

And we've been living in nations where we have to compete with those, with those nations.

0:23.6

And again, Germany took the initiative in World War I, financed it on credit, and then a bunch of other nations had to respond.

0:34.6

Yeah.

0:35.6

But ultimately, if you have a system that even if it works for a couple centuries,

0:41.9

it's based on, okay, there's only one loophole, which is that if you happen to go to war,

0:47.5

then you can print as much money as you want.

0:49.6

Well, eventually, someone's just going to take advantage of it.

0:52.1

Of course.

0:53.0

And so this drive to remove loopholes is so

0:57.4

old, I want to bring up Peels Act, which I become kind of fascinated by. It's a bank charter act of

1:04.7

1844. It's kind of the original Bitcoin in that it was an attempt to create like iron shackles. It is really an attempt at the Ulysses

1:15.7

contract. I look at, I've been looking at the desire to print money is like in poltergeist,

1:22.2

where it's like the light is it's and and you have like that the dr lesh is like she's she's

1:30.6

counseling um the mom's like tell caroline to stay away from the light and the mom's like maybe

1:38.3

it's a way out and dr lesh is like it is a way out but not for her tell her quickly and then the mom's

1:42.6

like stay away from the light. The light is dangerous.

1:45.1

Don't go near the light.

1:46.3

Don't even look at the light.

1:47.4

So that's how every person, every government is in a time of calm.

1:54.3

But when you get into a crisis, then suddenly you're that next scene where the exorcist lady is like,

...

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