In this episode Sal, Adam & Justin speak with economist, investor and best selling author, Jerry Robinson.
While Mind Pump's focus is primarily on physical fitness, financial fitness is an area you should not ignore. There is a very good chance that much of what was discussed in this fascinating episode will be new information to you unless you pay attention to the world of finance. This could very well be the information you need to protect you and your family in the future.
The book changed my life. Jerry shares his background, religious upbringing and the moment that sparked his passion. (4:44) Economists rule the world. Where did his knowledge come from? (6:24) The Gold Standard. He explains the concept in great detail and its impact on the US dollar. (9:14) Automatic increase in demand for the US dollar. The golf ball scenario, creation of the petrodollar system and its connection to our allies. (18:15) The death of Britain and rise of United States. The origin story of the Federal Reserve and how money is debt. (26:25) Breaking free from the consumption trap. How the richer we get in America, the more we tend to buy not produce. (36:40) Faith in currency goes down, alternative methods go up. The recent rise of cryptocurrency/bitcoin, the pros/cons and should you invest in them. (40:38) How economists lie with numbers. He explains the indicators to look at when it comes to how our economy is doing. (52:15) Student loans and interest rates bubble. He gives his opinion on the default mindset to go to college, in a market economy, and alternate methods to look at. (58:00) The only way to pay it off is with more debt. The explanation of the US National Debt and who this money is owed to. (1:06:00) How to identify what cycle we are at. Does he believe we are due for a crash? (1:14:53) All of them are playing the rigged game. What Presidents, in his opinion, have contributed the most to our National Debt? (1:19:25) You cannot get away with not sacrificing. The greatest lessons we have learned. (1:21:53) You have got to have a plan; the government will not take care of you. The need to develop multiple streams of income and tips on how to prepare for the future. (1:33:24) What companies fascinate/excite him? (1:45:00) Final thoughts and where does he see AI playing a part into the economy? (1:47:30) Related Links/Products Mentioned: Join his special groupWould you like to be coached by Sal, Adam & Justin? You can get 30 days of virtual coaching from them for FREE at www.mindpumpmedia.com.
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