The Evolution Of The International Monetary System, 1914 to 2016: Free Podcast
Posted August 13, 2016
If you have an hour to learn how the international monetary system has evolved over the last 100 years and how that evolution has shaped the extraordinarily strange investment environment of today, then this is the podcast for you.
I recently spoke with Preston Pysh and Stig Brodersen of The Investors Podcast. Here’s how their website described the interview:
In this episode the listener gets one of the most amazing history lessons about the US Dollar. Richard Duncan is an international best selling author and joins The Investor’s Podcast to talk about how China and the United States are in a tricky situation based on the events that have evolved since 1971. Once the US decided to come off the gold standard and abandoned the Bretton Woods Agreement, the US dollar was no longer pegged to anything. As a result, countries around the globe began to print enormous amounts of fiat currency in order to create trade surpluses that benefited their domestic interests. This situation has evolved by driving up the prices of all US dollar denominated assets, but more importantly, it has caused US bond yields to drop to almost nothing. This situation is potentially causing an ultimate bubble in asset prices around the world and could result and very large economic instability moving forward.
In this episode, you’ll learn:
- Why and how bubbles are created by credit
- How international central banks manipulate currencies
- Why the US government benefits from the FED artificially keeping the interest rates low
- How the monetary system has changed fundamentally since the Bretton Woods agreement broke down
- How the private investor should react in the new monetary system
It’s impossible to make sense of the present if you don’t understand the past. If you listen to this free podcast, you will.
After you do, I hope you will consider subscribing to Macro Watch. To subscribe, click on the following link:
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Here is the link to the interview:
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