The "What is Money?" Show
What the 1920s Can Tell Us About Money Today | The Twilight of Gold Series | Episode 17 (WiM413)
Dec 26, 2023
Guest Lester discusses topics such as Bitcoin price influence, true liberalism, the financial depression of the 1920s, false apprehension of gold, deception of credit expansion, economic similarities between the 1920s and 2020s, vulnerability of reserve currencies, and the impact of financial engineering.
01:41:23
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Quick takeaways
- Loss of faith in self-equilibrating forces of the economy leads to reliance on government intervention for stability.
- Credit expansion may not lead to sustained prosperity.
Deep dives
Loss of faith in self-equilibrating forces of the economy
During the 1920s and now during COVID, there has been a loss of faith in the self-equilibrating forces of the economy. People began to believe that governments should use their power to assure greater economic stability.
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