American Monetary Association

Jason Hartman welcomes Economist Mike Norman to the show to discuss Modern Monetary Theory or MMT. Mike shares examples of common misconceptions people have of the US monetary system and economy, such as the US debt clock, that inflation equals growth, and how the tax system works. He believes that the US has an unlimited supply of capital and balancing the budget or functioning as a fixed monetary system would accomplish the opposite of what is needed to create growth.

Key Takeaways:

[0:55] Modern Monetary Theory (MMT) explains the value of money.

[3:54] A tax system is required to create demand for money.

[8:46] A fixed monetary system creates cycles of economic depressions and recessions.

[11:08] The US national debt is a summation of what is owned by the US and its constituents.

[18:39] A dollar must be created and pumped into the economy before it can be used to pay a tax debt.

[21:01] The US has an unlimited amount of new capital.

[26:28] There is a difference between inflation and growth.

Website:

Mike Norman on YouTube

Direct download: AMA_195_Mike_Norman.mp3
Category:general -- posted at: 7:00am EDT

Jason welcomes Patrick Donohoe of The Wealth Standard Podcast to discuss the dirty details of pensions, insurance policies and Ponzi schemes. Jason describes the difficulties and common mistakes average retail investors make when investing in financial services. And, Pat gives a comprehensive overview of how to make the most of your existing policies in order to invest your money in the most historically-proven asset class, income property.

Key Takeaways:

[1:15] Is the US a giant Ponzi scheme?

[4:21] Understanding the difference between pension benefit plans and contribution plans is essential.

[14:05] The financial service industry preys on retail investors.

[19:39] Harry Markopolos is waiting to capitalize on a market correction.

[25:59] Analyzing the patterns and mistakes of the middle-class investor.

[34:17] The Wealth Standard Podcast focuses on helping individuals understand the comprehensive nature of the economy.

[36:39] Pat explains how policyholders can reduce their risk and get investment money for cash-flow properties.

Website:

Be Your Bank

The Wealth Standard Podcast

The Wizard of Lies

Venture Alliance Mastermind

Direct download: AMA_194_Patrick_Donohoe.mp3
Category:general -- posted at: 10:57am EDT

Jason Hartman and Richard Duncan continue discussing what Richard thinks will happen if the government stops supporting the global bubble, how the government can get back in the black on the spreadsheets, and why today is unique in terms of economic history.

Richard Duncan is Chief Economist at Black Horse Asset Management, the author of The New Depression: The Breakdown of the Paper Money Economy and The Dollar Crisis: Causes, Consequences, Cures. His Macro Watch video series can help individuals to clearly understand how the financial system really works. Mr. Duncan previously held the position of economist for the World Bank and the International Monetary Fund.

Key Takeaways:

[1:00] The rules completely changed when we ditched the gold standard and went to a paper money economy

[10:35] The winners in our new, global economy

[13:16] How governmental policy is driving the global bubble

[16:15] Never in human history have we seen what happens when the economy becomes global and money is printed in this abundance

[21:33] How we can pull our nation out of debt

Website:

http://BlackHorse.com.sg

The New Depression: The Breakdown of the Paper Money Economy

The Dollar Crisis: Causes, Consequences, Cures

Direct download: AMA_193_Richard_Duncan.mp3
Category:general -- posted at: 10:01pm EDT

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