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The Financial Sense Newshour Interview

Cris Sheridan was my host on The Financial Sense Newshour last week. We had a real go at solving the world’s problems. Among the topics discussed:

1. Why Quantitative Easing is effectively debt cancellation. (When a central bank buys a government bond, it is effectively the same thing as cancelling that bond, so long as the central bank does not sell the bond and so long as it rolls it over whenever it matures.)

2. The policy implications of trillions of dollars worth of debt having been thus cancelled by the Fed, the Bank of England, the Bank of Japan and (starting today) the European Central Bank.

3. How we could put an end to income tax in the United States.

4. Why deflation is a greater danger than inflation.

5. What it would take to reignite inflation.

6. The outlook for the global economy.

7. How investors should invest in a world where interest rates are approaching (or, in many cases, are already below) zero percent.

Click on the following link to listen (no password required):


One comment

  1. Excellent interview! This discussion explains why QE has not caused inflation due to globalization, how QE is inflating the stock market, and also includes investment advice about investing in real estate. Most importantly a solution is submitted to steer us clear of the looming economic contraction that will occur unless we expand the economy….because there is only so much debt the world can create. He suggests that the U.S. invests, through entrepreneurs (maybe Elon Musk type visionaries?) in advanced technologies similar to the DARPA model, which brought us the internet and GPS. Richard does not like the fact that the world has been brought to the brink of economic collapse through a debt bubble, but he understands what we need to do to survive. He not only suggests that we can fix this mess, but maybe even thrive for another 100 years if we take the right steps.

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