My conversation with the IEA on 5,000 years of monetary manipulation—and why the 21st century might finally break the pattern. Your Sunday thought piece.
Just bought 2 of your Gold books for my eldest boys for Christmas. If they can have a better understanding of value at their young age Im sure it will be 35 quid well spent👍🏻
Great piece. Agree w your points but wrt challenges of gold as a medium of exchange what are your thoughts about tokenized gold (e.g. XAUT)? This would seem to offer interesting possibilities in the future??
It's not just money supply growth (M1, M2, QE) that affects inflation but also the money velocity (average number of times a unit of currency is spent on final goods and services in a given period). During first covid lockdown when money was being printed like no tomorrow inflation did not go up. It was only when lockdowns ended and people went out and spent that money did inflation rocket. There was a clear lag which shows you need both increased supply and velocity. The other difference with this was usually when money is printed the Government are the ones spending it so does not affect normal inflation (too much) until it filters through to us. But with Covid spending the Govt was borrowing money to give directly to ordinary people.
Just bought 2 of your Gold books for my eldest boys for Christmas. If they can have a better understanding of value at their young age Im sure it will be 35 quid well spent👍🏻
Yes. Just done exactly the same thing!
Many thanks, Lee
Another entertaining interview, cheers
Thank you
Great piece. Agree w your points but wrt challenges of gold as a medium of exchange what are your thoughts about tokenized gold (e.g. XAUT)? This would seem to offer interesting possibilities in the future??
Terry
With tokenised gold, gold loses it’s nobody else’s liability status
The video is out of sync?
It's not just money supply growth (M1, M2, QE) that affects inflation but also the money velocity (average number of times a unit of currency is spent on final goods and services in a given period). During first covid lockdown when money was being printed like no tomorrow inflation did not go up. It was only when lockdowns ended and people went out and spent that money did inflation rocket. There was a clear lag which shows you need both increased supply and velocity. The other difference with this was usually when money is printed the Government are the ones spending it so does not affect normal inflation (too much) until it filters through to us. But with Covid spending the Govt was borrowing money to give directly to ordinary people.