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The Myth of the Gold Standard and the Impact of Returning to Parity
This chapter delves into the myth surrounding the gold standard during the Great Depression and the consequences of returning to gold at the pre-war value, including the general strike of 1926 and a five-year deflation of Britain's money supply.
My friend and fellow student of money codenamed "Lester" joins me for a multi-episode conversation exploring the excellent book "The Twilight of Gold" by Melchior Palyi.
Twitter: https://twitter.com/ProgrammableTx
Book: https://www.amazon.com/dp/B0006C31O4
// SPONSORS //
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// OUTLINE //
00:00:00 - Coming up
00:00:43 - Intro
00:02:16 - Helping Lightning Startups with In Wolf's Clothing
00:03:02 - Planting Seeds of Knowledge about Bitcoin
00:05:45 - How to Approach People about Bitcoin
00:07:48 - Value of Money and Productive Investment
00:10:50 - The Central Myth of the Central Bank 0
0:12:08 - The List of Myths
00:15:17 - Non-Monetary Events Cause Credit Inflation
00:20:38 - Monetary Events on a Bitcoin Standard
00:24:24 - What If the Government Possessed Bitcoin Savings
00:26:52 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet
00:27:48 - How the British Pound Lost the Status of Global Reserve
00:32:48 - Using the Gold Standard for Human Politics
00:37:15 - The Correlation between Unemployment and Inflation
00:39:13 - Numbers Lead to Myths, Myths Lead to Power
00:41:13 - The Key Man Risk
00:42:33 - Using Numbers to Control the Narrative
00:46:09 - The Current Narrative
00:49:56 - Global Reserve Currency Status Dilemma
00:54:39 - Trading Different Currencies Against One Another
00:57:24 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet
00:58:12 - First Myth: Britain's Shift to Gold Standard in 1925
01:04:25 - Social Justice vs. Gold: The Value of Myth
01:22:04 - Using the Gold Standard for Political Tyranny
01:24:05 - Applying Popular Narrative for Deceptive Ideology
01:26:31 - Inflation Creates Allies of Inflation
01:29:04 - Breaking the Deception of Nominal Values
01:31:12 - Where to Find "Lester" on the Internet
// PODCAST //
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400
Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?
RSS Feed: https://feeds.simplecast.com/MLdpYXYI
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// WRITTEN WORK //
Medium: https://breedlove22.medium.com/
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// SOCIAL //
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