The Gold Exchange Podcast with Keith Weiner Keith Weiner

In episode 6, we introduced the distinction between money and fiat currency, discussing what gives the dollar – or any fiat currency – its value. Now, we continue that conversation discussing additional characteristics of money, and illustrate how a false definition of money can lead to a corrupt state that wields blank checks.

Once upon a time, gold bonds were the norm. They effectively financed productive enterprise & generated income for bondholders - until 1933. And although it has taken 87 years, the gold bond market is reemerging.

Despite what Google Images serves up, money and currency are not the same thing. This view differs from that of mainstream economists, and this episode illustrates how those mainstream misconceptions might materialize to everyday folks. So what is it today that gives the dollar - or any fiat currency - its value? And how do we plan for the possibility that its value could change significantly?

The problem with GDP is that government consumption of private capital is positive. And with the government gradually taking over all aspects of the economy, even a small cut in spending can send workers to the unemployment line and shutter businesses.

Economics has been called the dismal science. It doesn't seem to have the same respect as other fields of "real" scientific study. Why is that? John Flaherty & Keith Weiner discuss a number of reasons.

"Seems like things are getting back to normal." Not exactly. Folks with that view are not looking very closely. But we are.