As the Dollar Falters, Gold Becomes Insurance, Not Speculation
Many people are selling their gold to make ends meet. Others are buying gold as insurance against mounting price inflation.
Many people are selling their gold to make ends meet. Others are buying gold as insurance against mounting price inflation.
Mainstream economists claim money has purchasing power because the government issuing the money has so declared. That makes no sense.
Mises Fellow, Mateusz "Matt" Machaj joins Bob to discuss his new booklet from Routledge, which explains how mainstream economists have responded to the recent bout of price inflation.
Progressives are claiming that corporate profits are one of the causes of inflation. However, if inflation increases consumer prices, it also causes production costs to rise. That is not a recipe for profitability.
Mainstream economists claim money has purchasing power because the government issuing the money has so declared. That makes no sense.
Many people are selling their gold to make ends meet. Others are buying gold as insurance against mounting price inflation.
In 1959, Ludwig von Mises gave lectures on economics in Argentina, where the economy was in steep decline. In the 1920s, Argentina was one of the world's wealthiest countries, but decades of Peronism and inflation started the country on the long road to poverty.
Remember when inflation was “transitory”? Or when Paul Krugman claimed inflation was “under control”? The numbers keep telling us a different story.
Ryan and Tho are joined by Peter St. Onge, a visiting fellow of the Heritage Foundation, to discuss the state and trajectory of the American economy.
In nature everything has a cycle. Birth, growth, maturation, death. Everything, including the planets and stars. Nothing stays the same.