American Monetary Association 406: Forced Economic Despair & Replacement Currency with John Tamny
The political response to Covid-19 cased a massive economic event that led to a self-fulfilling prophecy.
The monetary response of the government has led to inflation concerns that won't be going anyway anytime soon. Jason Hartman is joined by John Tamny, author of the new book When Politicians Panicked The New Coronavirus, Expert Opinion, and a Tragic Lapse of Reason, to discuss our current economic climate and whether it's time to replace the US currency with something from the free market.
Key Takeaways:
[1:32] Politicians chose economic despair in March 2020
[5:20] Declaring a crisis leads to a self-fulfilling prophecy
[9:17] You need people doing every kind of response to things like Covid so you can gather more information
[13:04] John's views on inflation
[16:28] Housing always shows the devaluation of the dollar
[21:09] There are many efforts going on to get away from floating exchange rates
[25:47] John believes markets can produce a better currency than the US Treasury
Website:
When Politicians Panicked: The New Coronavirus, Expert Opinion, and a Tragic Lapse of Reason