Brent Johnson vs Bob Murphy: De-dollarization debate

In this episode of the Gold Exchange podcast, esteemed monetary economist Judy Shelton joins hosts Ben Nadelstein and Keith Weiner to discuss her latest book, "Good as Gold: How to Unleash the Power of Sound Money."Shelton delves into the challenges of fiscal unsustainability in the U.S. and proposes the issuance of 50-year U.S. Treasury "Treasury Trust Bonds" backed by gold to foster sound finances.The discussion covers the impact of Federal Reserve policies on wealth distribution and inflation, the need for intellectual diversity within the Fed, and the parallels between U.S. monetary policy and Soviet-style central planning.Additional ResourcesEarn Interest on Gold and SilverFollow Judy SheltonGood as Gold BookHow to Earn Passive Income in Gold and SilverWorld’s first gold bondPodcast Chapters00:00 – “We are in a crisis”02:10 – Introduction to Judy Shelton and Her Work02:32 – Discussion on Monetary Favoritism and Wealth Inequality03:36 – Keith Weiner’s Experience with the Federal Reserve05:57 – False Alternatives in Monetary Policy09:12 – Monetary Metals and the Productive Use of Gold10:24 – Discussion on Stable Prices and Inflation Targets12:02 – Psychological Aspects of Monetary Policy16:05 – Intellectual Diversity at the Fed20:31 – The Federal Reserve’s Singular Tool24:01 – Lessons from Soviet Central Planning26:39 – Solutions to Current Monetary Issues27:20 – The Misconception of Gold Standards29:59 – New Gold-Backed Bonds32:46 – Potential Innovations in Sound Money34:25 – Alan Greenspan’s Influence and Acceptance38:55 – Proposals and Investor Demand43:33 – The Overton Window and Discussion of Gold46:58 – Winston Churchill on American Policy49:29 – Closing Remarks50:38 – Monetary Metals

In this episode of the Gold Exchange podcast, two experts on monetary mechanics debate de-dollarization.Brent Johnson, head of Santiago Capital and the creator of the Dollar Milkshake Theory argues that systemic de-dollarization without chaos is nearly impossible due to the entrenched dollar-based debt system.Robert Murphy, a Senior Fellow with the Mises Institute and the chief economist at infineo, argues that a shift in preferences away from the US dollar is already underway without causing major defaults.Bob and Brent explore the implications of these perspectives on global finance, the potential role of gold going forward, and the resilience of the US dollar amidst rising geopolitical and monetary tensions.Additional ResourcesEarn Interest on Gold and SilverBob MurphyBrent JohnsonHow to Earn Passive Income in Gold and SilverWorld's first gold bondPodcast Chapters00:00 - Intro to the Gold Exchange Podcast01:00 - Guest Introductions: Bob Murphy and Brent Johnson01:50 - Overview of De-dollarization Perspectives 03:41 - Brent's Perspective on De-dollarization Impact04:56 - Bob's Perspective on De-dollarization 06:50 - Clarifying the Exogenous vs. Endogenous Debate08:01 - Brent's Explanation of Systemic Deleveraging 11:08 - Bob's Rebuttal: Asset vs. Liability Dynamics 13:44 - The Role of the US Dollar in Global Markets 18:53 - Discussion on the Dollar's Resilience25:18 - The Euro-dollar Market and Network Effects 32:19 - Market-Based Solutions for Currency Alternatives39:12 - The Role of Gold and Other Assets 45:02 - The Future of the Dollar and Financial Systems57:40 - Closing Remarks and Future Outlook

Jeffrey Christian, Founder and Managing Partner of CPM Group, brings over 40 years of expertise in commodities research and consulting. As a recognized authority on precious metals and economics, he joins the podcast to explore whether elections impact gold prices and to shed light on when inflation exerts a significant influence on the gold market.Additional ResourcesCPM GroupHow does gold perform during presidential elections?Earn Interest on Gold and SilverHow to Earn Passive Income in Gold and SilverPodcast Chapters00:00 – Politics and Gold01:00 – Narratives and Oversimplifications about Gold03:22 – Inflation and Gold Prices04:52 – Dollar and Gold Correlation06:22 – Treasuries and Safe-Haven Assets07:37 – Gold as a Productive Asset08:05 – Presidential Elections and Gold Prices09:31 – Politics and Gold10:28 – Exeter’s Pyramid and Safe Haven Assets12:25 – Risk-On and Risk-Off Investments13:06 – Strong Equity Markets and Gold17:27 – Liquidity of Gold in Market Sell-Offs18:08 – Central Bank Gold Buying22:00 – Central Bank Strategies and Market Influence24:03 – Central Banks as Reserve Holders26:01 – Historical Context of Central Bank Gold Holdings28:27 – Diversification of Central Bank Reserves30:41 – Jeffrey Christian’s Insights on Gold31:23 – Monetary Metals

Jeffrey Christian is the Founder and Managing Partner of CPM Group, one of the world’s leading commodities research and consulting firms. With over 40 years of experience, he’s an expert on precious metals and economics and joins the podcast to discuss the potential upside silver could see in 2024 and beyond.Additional ResourcesThe Real Reasons To Invest In Silver NowEarn 12% in our Silver Bond offeringEarn Interest on Gold and SilverHow to Earn Passive Income in Gold and Silver

Award-winning historian ‪@TomWoodsTV‬ joins the podcast to debunk the myths we are taught about central banking and discuss how we can break free from the Fed's economic mismanagement.Follow Monetary Metals on X: @Monetary_MetalsAdditional ResourcesEarn 12% in our Silver Bond offeringOur Enemy the FedEarn Interest on Gold and SilverA Short History of Paper Money and Banking in the United StatesAlan Greenspan’s “Syntax Destruction”How to Earn Passive Income in Gold and SilverThe Economics and Ethics of Private PropertyFull show notes, chapters, and transcript: https://monetary-metals.com/tom-woods-we-are-in-uncharted-territory/

John Rubino is a former Wall Street financial analyst and author or co-author of five books, including The Money Bubble: What to Do Before It Pops and The Collapse of the Dollar and How to Profit From It. He founded the popular financial website DollarCollapse.com in 2004, sold it in 2022, and now publishes John Rubino’s Substack newsletter. John joins the podcast to discuss owning real assets, how to think about financial bubbles, and the new supply and demand dynamics in the gold and silver markets.

Ronald-Peter Stöferle joins the podcast to discuss why he invested in Monetary Metals, what the new playbook means for gold, and the case for owning gold in 2024 and beyond.

CEO Keith Weiner explains on the Gold Exchange podcast what a silver bond is, why the current silver bond offering from Monetary Metals is so historic, and how to think about dollar vs metal yields.

David Morgan joins the podcast to discuss the evolution of the precious metals market, earning a yield on gold and silver, changing supply and demand dynamics, and how blockchain and precious metals could be the future of the industry.

Companies that unlocked the productive potential of underutilized resources have taken off in the last decade. Uber with cars, Airbnb with housing, and even the could using computers. What about monetizing underutilized gold and silver? Jeff Deist and Ben Nadelstein of Monetary Metals discuss.