Walking Through Economic Times - Darryl Schoon #5274
Summary: The economy is in a major decline, and today we have Darryl Schoon on the podcast to talk about some of the root causes of this phenomenon. Schoon walks us through different times in history that shed light on some of the underlying issues of inflation, and how this translates in the modern era. The inflationary bubble that we are in at the moment will eventually lead to a deflationary bust, and it is only a matter of time before we see some of the effects of this. Highlights: -The economy is crumbling\u2014Evergrande is reminiscent of the 30s -The economic tides and sands are shifting, and it\u2019s going to take a lot to save it -People know something is wrong, but they feel like it is beyond their capacity to do anything -You don\u2019t need to understand money, credit, or debt to be in harm\u2019s way\u2014you\u2019ll be in it anyways -There was historically a lot of silver circulating on the open market in the west, which was traded with China for porcelain, silver, and tea -People called paper money \u2018flying money\u2019 because of how fast it came and went -There is always an arbitrage somewhere -When you\u2019re so right for so long, it\u2019s hard to tell when you\u2019re wrong -Gold used to be a religion for China\u2014paper money leveraged debt and real estate -Inflationary bubble will lead to a deflationary bust Useful Links: Financial Survival Network Moving Through the Maelstrom With Darryl Robert Schoon