In this episode, Sal, Adam & Justin talk with well-known economist and author, Peter Schiff, on the likely long-term effect of COVID-19 on the economy.
How the medicine may be worse than the disease. (4:21) The difference between money and wealth. (11:34) What causes inflation? (14:43) The consequences of inflation in history. (17:39) His predictions for the economy post-COVID-19. (22:40) Why is the government doing what they are doing? (25:55) Is American life better off today? (31:50) The war on savings and how to escape this inflation tax. (40:15) Keynesian vs Austrian economics. (49:05) The concept of artificial demand and economies of scale. (56:03) What is it to stop a private company from creating their own currency? (1:01:51) What will happen with the US dollar? (1:07:53) Is it smart to buy real assets? (1:12:50) How the government always creates a crisis by interfering with capitalism. (1:15:45) How will this crisis affect the 2020 election? (1:19:20) The COVID-19 impact on human behavior. (1:22:54) The problems with the ‘everything’ bubble. (1:26:01)Related Links/Products Mentioned
April Promotion: MAPS Prime/Prime Pro ½ off! **Code “PRIME50” at checkout** Special Promotion: MAPS Anywhere ½ off!! **Code “WHITE50” at checkout** Visit Paleo Valley for an exclusive offer for Mind Pump listeners! **Code “Mindpump15” at checkout for 15% discount** Amazon.com: Peter Schiff books How World War II Still Determines Your Tax Bill - TIME Keynesian Economics Coronavirus hyperinflation risk looms, buy gold: Peter Schiff What is Austrian Economics? Economies of Scale Anti-Money Laundering Initiatives Under the USA Patriot Act Man who predicted the 2008 financial crisis says coronavirus may mean his bets of stock-market carnage are finally beginning to crystallize Mind Pump Free ResourcesFeatured Guest
Peter Schiff (@PeterSchiff) Twitter Europac Schiff Gold YouTube Podcast