The Great Reset, or the New Great Depression?—An Economic Examination of the Response to COVID-19
Finding Genius Podcast
Richard Jacobs
4.4 • 1K Ratings
🗓️ 23 January 2021
⏱️ 49 minutes
🧾️ Download transcript
Summary
Pop quiz: what's seven trillion dollars times zero? The current amount of economic stimulus in the American economy. Despite printing four trillion dollars and seven trillion dollars in deficit spending since this time last year, economic growth is still below what it should be, hence talk of the new great depression.
In this episode, you'll learn:
- How many of the major pandemics of the 20th century resulted in a second wave that was worse than the first, and how that seems to be playing out with COVID-19
- How one man became the richest in Germany during the worst period of hyperinflation in the Weimar Republic in the 1920s
- What it means to be in a depression versus a recession, and what can be said about the recent and current state of the American economy in this regard
- Why Rickards says deflation rather than inflation will be brought about by the response to COVID-19
Jim Rickards is an American lawyer, economist, investment banker, speaker, media commentator, and New York Times bestselling author of multiple books on matters of finance and precious metals. His most recent book, titled The New Great Depression: Winners and Losers in a Post-Pandemic World was released just this month, and presents an uplifting message: no matter how bad things get economically, there are ways for individuals to not only preserve wealth, but make money and prosper.
Rickards shares his expertise on a range of topics, including the current state of disinflation and where it will lead, why the velocity of money is the real cause of inflation and what happens when there is no velocity, reasons for the 22-year downward trend in velocity and the even more significant drop during COVID-19, ways for individuals to protect themselves financially—regardless of the economic situation, nominal versus real interest rates, why cryptocurrency will not play a role in the international monetary system, the new strain of SARS-CoV-2 and why it is evidence that the lockdowns don't work, and more.
Available on Apple Podcasts: apple.co/2Os0myK
Transcript
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| 0:00.0 | Forget frequently asked questions common sense common knowledge or Google how about advice from a real genius |
| 0:06.8 | 95% of people in any profession are good enough to be qualified and licensed 5% go and beyond. They become very good at what they do. |
| 0:15.1 | But only 0.1% are real Jesus. |
| 0:18.3 | Richard Jacobs has made it his life's mission to find them for you. |
| 0:22.4 | He hunts down and interviews geniuses in every field, |
| 0:25.1 | sleep science, cancer, stem cells, ketogenic diets, and more. Here come the geniuses. |
| 0:30.3 | This is the Finding Genius Podcast. |
| 0:33.0 | That is Richard Jacobs. |
| 0:35.0 | Hello, this is Richard Jacobs with the Finding Genius Podcast. |
| 0:41.0 | My guest today is James Records. |
| 0:43.8 | He's an American lawyer, economist, investment banker, speaker, media commentator, and author |
| 0:49.3 | on matters of finance and precious metals. |
| 0:51.9 | He's the author of multiple books. |
| 0:53.8 | We have currency wars, the making of the next global crisis, |
| 0:57.6 | and published in 2011. |
| 0:59.1 | We have the death of money, the coming collapse |
| 1:01.0 | of the International Monetary System 2014. |
| 1:03.0 | The Big Drop had to grow your wealth during the coming collapse 2015. |
| 1:06.0 | The new case for gold, 2016. |
| 1:08.0 | The road to ruin the Global Elite's secret plan for the Next Financial Crisis 2016. |
| 1:13.1 | Aftermath, Seven Secrets of Wealth Preservation in the Coming Chaos 2019. |
| 1:17.6 | And his newest book, which has come out, I believe January 12, 2021, just came out. |
... |
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