Mon, 12 April 2021
1672: Leaving the Gold Standard, Operation Twist 2.0, Treasury Yields & Future of Inflation with George Gammon
50 years ago President Nixon took the USA off the last remaining connection to the Gold Standard. Since then a lot has changed, but one constant has been inflation. Jason Hartman starts off the episode looking at what Nixon did that really staved off massive inflation.
Then Jason talks with The Rebel Capitalist George Gammon about the newest Operation Twist. This is a program run previously that aims to manipulate yields. George explains how it did work and how it might be used again. The two also examine the hyperinflation of Weimar, Germany, and see if there's any link to what's happening in the USA today.
[2:20] It's been 50 years since we went off the Gold Standard
[5:38] Nixon's reasoning for going off the Gold Standard
George Gammon Interview:
[9:48] What was Operation Twist and what's version 2 look like today?
[14:33] The impact of the Treasury spending down their account
[19:28] How bank actions are distorting the yield curve
[23:35] Is all of this as inflationary as it sounds?
[26:02] Average income in the US is substantially rising
[36:44] Weimar, Germany's inflation story