TIP365: Has Inflation Peaked? w/ Richard Duncan
The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 30 July 2021
⏱️ 72 minutes
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Summary
Transcript
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| 0:00.0 | You're listening to TIP. |
| 0:30.0 | You're listening to TIP. |
| 1:00.0 | I'm your host, Tray Lockerby, and today I have with me Richard Duncan. |
| 1:10.8 | Richard, welcome back to the show. |
| 1:12.3 | Thanks for coming on. |
| 1:13.3 | Tray, thank you. |
| 1:14.3 | It's very nice to be back. |
| 1:15.8 | Well, I'm really excited to have you back because I have been witnessing what I would |
| 1:21.8 | say, seemingly bombastic narratives, mostly around what the Fed is doing, how potentially |
| 1:28.4 | nefarious it might be. |
| 1:30.6 | And when I listen to you speak, I tend to hear that you think there's a lot of sound |
| 1:35.6 | decision making happening at the Fed. |
| 1:38.2 | So I want to get involved that. |
| 1:39.6 | But first, I think it's important if we take a step back and you could help walk us through |
| 1:44.4 | how we've kind of arrived where we are. |
| 1:47.1 | One thing I've heard you say is that capitalism is dead. |
| 1:50.7 | So what do you mean by that exactly? |
| 1:52.4 | Well, I would just say that capitalism evolved into a very different kind of economics |
| 1:58.1 | system that I call creditism. |
| 2:01.0 | And here's how that happened. |
| 2:02.4 | 50 years ago, the United States stopped backing dollars with gold. |
| 2:08.9 | First, the Fed was no longer required to hold any gold to back the dollars that it created |
... |
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