Is Economic Collapse Inevitable? | Mike Maloney and Stefan Molyneux

Economy | Information | History | Online | Facts | World | Global | Money

1. I recommend watching the Princes of the Yen documentary detailing the over intrusion of government in economics
2. Thanks, Stefan, for having Mr. Maloney on your program.
3. found it Stefan ... thanks!
4. you can guarantee that if todays GDP had of been 50 trillion, the national debt would have been 70 trillion .. 😂
5. Do you put any of your content on iTunes? Or the podcast app? I like being able to listen while in another app
6. One thing I can't seem to figure out is: Deflation = less currency in circulation so therefore there is less available currency seeking gold & silver which should cause gold & silver prices to drop? I'm keen on metals but... what if the process unfolded like... deflation - government responds by helicopter currency drops - people use new helicopter currency to pay down debt - less currency around for non essential purchases = metals price drops. I mean isn't there also another potential future where someone would be prepared to trade an ounce of gold for a can of beans?
7. Young people are being screwed.
   
   Leverage into debt-based ponzi scheme to buy into housing bubble.
   
   Simply a wealth transfer from young to old.
8. I wish someone could make a movie about a worldwide revolution where people power raise the central banks to the ground and incarcerate people like Bernanke and his puppet masters, Lloyd Blankfein for example.
9. Hi Stefan, Please do a video for a 100oz silver challenge.
   
   Basically 2015 silver production was 900million oz. If 9 million people bought 100oz of silver that would take out the entire mine supply for the year. This would result in a situation where the price has to go up, and all holders would benefit, as Silver has no counterparty risk, and like Gold is no one elses liability.
   
   100oz silver is only $1900 which is less then what most people spend on a wedding or even a holiday.
   
   Lets get this started...and we can beat the governments at their own game !!!
10. You don't need money to be happy!!Money will just make you a bitter and greedy bastard!
11. Even when you "wake up" to what you think is going on with the Fed and the inflating money supply, that is not the whole story. For a long time you can think you know, but still you have no idea. Even when you think the answer is to "End the Fed" because you smelled out the rat, you don't necessarily know what they're really doing. The rabbit hole goes even deeper than most people who "wake up" know.
    
    #1, that's not fiat money. It's backed by bonds which are in turn backed by titles which are in turn are backed by real assets, which are valued in their share of monetary metal. So, our currency is backed by monetary metal. We're not using the monetary metal directly as money and we don't know where it is, but the same could be said for the bonds that our currency is drawn against.
    
    #2, the interest does not exist in currency, but it exists in the form of entitlements to bonds, or entitlements to the future currency which will be issued against those bonds.
    
    #3, they create currency but they do not expand or contract the total amount of dollars in financial instruments or potential financial instrument.
    
    #4, when a borrower takes out a loan from a bank, he is taking M1 currency (both the principal and the future interest) out against his birth certificate bond. His birth certificate bond is linked to his social security number and is identified by the CUSIP number on the back of his social security card. That's why he cannot take out the loan without his social security number.
    
    #5, a bank cannot issue legal tender against the borrower's promissory note (loan application) without taking it out against his bond. His birth certificate bond is already the entitlement to his total life's work. Two financial instruments cannot be issued against the same asset (or life's work) twice. Only the Fed can issue legal tender because they are the only bank that issues currency against the bonds. A bank that is not in the Federal Reserve System could issue its own banknotes as currency, but they would eventually have to be payable in Federal Reserve Notes, because the Fed is the only one that issues currency against the bonds. A bank that issued legal tender not backed by the bonds would be issuing against titles already claimed by bonds. That would be a double claim and would be illegal, so it would actually be illegal tender.
    
    #6, the taxes we pay today for a bond issued 30 years ago are not the price we are paying for prosperity we enjoyed 30 years ago. When the bond was sold, it was exchanged for currency, but not for the whole value of the bond. The difference is called the interest. The bond itself still functioned as money. It didn't circulate as currency but it traded as money. When the bond matured, the issuers swapped it for currency and essentially bought it right back. To pay the interest, we took out more currency against another bond. But the bond with which we paid the interest did not itself have to be interest bearing. So we do not have to create an ever compounding debt-spiral. We can simply increase the total number of bonds (some interest-bearing, some not) and currency trading on the open market. Wealth is transferred to those who have early access to inflating monetary instruments. But nobody is really paying for prosperity they enjoyed 30 years ago. At issuance, the currency supply was inflated, and the bond supply was inflated by the same amount plus the interest. At maturity, the currency supply deflates by the principal plus interest, and bond supply deflates by the principal. Essentially, they are just bringing bonds online from a hidden stash, using currency as a gamepiece. The bonds themselves are money.
    
    #7, all they are doing is swapping money between the occult (hidden) money supply, and the publicly available money supply. They're not really creating or destroying money. All the money (bonds) in the occult economy is already made, but not yet issued (sold for currency). We're going to start seeing interesting things happening as the supply of occult money (the hidden stash of bonds) starts drying up. They will have a harder and harder time playing the swapping-in-and-out game.
12. they will throw their gold and silver in the street and their bellies will curse it the bible
    my people perish for lack of knowledge bible
    get knowledge
13. Mike makes one fundamental mistake regarding thinking that you cannot pay back debts in a debt money system, but for two reasons.
    
    1) Thinking that you can never pay back a debt in a debt-based system. He doesn't factor in that money is not a zero sum game in an economy, and you can just sell things or earn a wage from someone else who has money, and use THAT money to pay back the lender.
    
    2) So long as people are born and dying all the time, there are new loans being made and old ones being paid off all the time, so there is no threat of the debts all being paid off at the same time.
    
    However, this error does not seem to change his basic underlying thesis.
14. When I graduated from high school 40 years ago, I went to work in construction for ten dollars an hour.
    My nephew graduated high school four months ago and just found a job for nine dollars an hour.
    We are so screwed!
15. Producer Price Index (wholesale inflation) came out Friday. MoM (Jun.) -0.40%. I'd say he's spot on and the dip has begun.
16. QE is the way to turn the fiat money into sound money. If you don't believe me, good luck trying to short the Swiss Franc (or the Yen)! The only think that will happen is that the Swiss Central Bank will buy back the Franc for a profit (and thus increase the value of the remaining Franc) as the currency is backed up by bonds, gold and even stocks and other assets.
    
    But the free market still keeps on buying Swiss Franc (or Euros or Yen). Maybe the market is a little smarter than politicians, people who write stuff on the Internet and academia?
    
    But the Fed's QE is just about buying toxic assets and there is almost nothing that backs up the Federal Reserve Dollar. All other QE is however only issuing of currency that is 100% backed up by real assets. This is the definition of sound money.
    
    Or to put it simple: USD is a worthless piece of shit while the other big currencies aren't fiat currencies any more.
    
    Mike Maloney should also put up a chart of the gold price in Yen: The price is basically constant for 5 years now. Because Japan has sound money, and they are only pretending to try to do inflation because they don't want terror attacks from the Fed controlled CIA. Pretending to be a moron is often a good idea.
17. So I have a few questions. Say you have a bar or bars of gold and silver and the economy goes to shit, how do you get by with those bars? Do you sell them for money (but if the dollar is shit whats the point)? Do you literally pay your bills with them to keep the house going?
18. Yes, economic collapse is inevitable, because capitalism is unstable as fuck.
19. "Baby boomers selling their houses faster than millenials will buy them."
    They worked that problem out in Australia w/negative gearing.
20. It pisses me off of how much wealth they denied us to control us. I hate those pig demons it's no wonder Jesus only ever got violent with the money changers.