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WTF Happened In 1971 With Ben Prentice & Hac

Lead-Lag Live

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The Importance of Asset Inflation in Wealth Concentration

For me, the number one most important data point is the federal debt chart. I think that's really important because a lot of people overlook the effects that asset inflation have on wealth concentration in society. When you live in a world where debt is constantly being devalued in real terms, the rich get richer and the poor get poorer. Ben: Maybe it just happens to be the case that the removal of the gold standard in 1971 that that happened at the same time that technology was starting to accelerate.

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