BTC186: Fiat Food & Bitcoin w/ Matthew Lysiak (Bitcoin Podcast)
We Study Billionaires - The Investor’s Podcast Network
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Political Manipulation of Prices
During the Lyndon Johnson administration, inflation began due to issuing more paper notes than gold in the treasury, leading to a potential fraud being exposed if countries attempted to redeem. Johnson, in a move to control rising egg prices before his re-election, had his Surgeon General issue a phony press release claiming eggs were unhealthy, manipulating the demand and price of eggs. This manipulation, still believed by some people today, highlights how political actions can impact market prices and public perception.
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