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On Today's Episode:
You think you know what money is and how it works, but then you watch this conversation with Tom and Robert Breedlove and now you're questioning everything.
During our current financial crisis, prices in the market are a lot higher than what they're reporting inflation to be. You spend $100 in groceries and you're leaving the supermarket with what feels more like $60 or $70 worth of groceries. How is this possible when inflation is reported to be closer to 9%?
Robert Breedlove hosts the podcast, What Is Money. He is a freedom maximalist, and bitcoin philosopher that gives you plenty of food for thought. His breakdown of inflation, theft, and corrosion of big government is hard to ignore.
In this episode you can take away some money strategies that will help get you through this crisis. Robert is exposing what true debasement of your hard earned dollars really means, and why you should be outraged as a private citizen. Is bitcoin truly the answer to ending economic corruption people have been sold?
SHOW NOTES:
0:00 | Introduction Robert Breedlove
0:19 | Money Strategy in Financial Crisis
21:12 | False Economic Theory
36:22 | Impact Of Printed Money
47:15 | Private Property Rights
1:01:18 | Violation of Private Property
1:08:53 | Economic Axioms & Stories
1:20:58 | Are Rich People Evil?
1:29:22 | Why People Are Angry
1:37:24 | Bitcoin Is Incorruptible
QUOTES:
'Inflation is quite simply, legal counterfeiting, and counterfeiting is illegal inflation. They're mechanically the same thing.' [1:10]
'Setting a legal monopoly to steal from all of society is a really convenient wealth acquisition strategy.' [7:28]
'I'm not advocating for bitcoin as your checking account, I'm advocating bitcoin for your long term savings account.' [10:20]
'The moment we entered fractional reserve banking it became a pyramid scheme.' [27:04]
'The only thing you can do with printing money is violate the property of others; you cannot issue any equitable benefit to an economic system.' [28:28]
'Debt shrinks people's time horizon, [...] Instead of delaying gratification and saving for the future, I now want to sell the future and buy today.' [32:56]
'Monetary dilution is inflation, and monetary enrichment is deflation.' [39:35]
'What we're doing when we print money is inducing or incentivizing consumption actions over investment actions, and investment actions are what drive innovation.' [43:53]
'The degree to which you are violating private property is the degree to which you are not rewarding productive members of society, and you are rewarding political actors in society.' [1:06:05]
'Institutions don't follow the laws that they promulgate, institutions follow the individuals that run the institutions, those individuals tend to be corruptible. They will bend the publicly applied rule for private gain. That is my definition of corruption.' [1:51:43]
Follow Robert Breedlove:
YouTube: https://www.youtube.com/channel/UC43_LTf5Z4lbRjKCq0sIAVg
Twitter: https://twitter.com/Breedlove22
LinkedIn:https://www.linkedin.com/in/breedlove22/
Podcast: https://whatismoneypodcast.com/
Instagram: https://www.instagram.com/breedlove_22/
WARNING: I will never ask for your contact info in the comments section, that is someone impersonating me!
@RAW.v.M Says:
# The Evolution of Monetary Systems: A Comparative Analysis of the Federal Reserve, the Gold Standard, Global Financial Market Collapse, and the Emergence of Bitcoin
## Abstract
This dissertation explores the intricate history of the United States Federal Reserve, the collapse of the U.S. dollar, the evolution of the gold standard, and the economic impact of global financial markets. Additionally, it investigates the role of Bitcoin as a potential global reserve currency, drawing parallels between the United States and the Roman Empire. The historical context of the Jekyll Island meeting in 1903 and the significance of the 13 banking families in shaping monetary policy will also be examined. Through empirical data and comprehensive analysis, this study aims to provide insights into the complexities of monetary policies and their implications for future economic stability.
## Table of Contents
1. Introduction
2. The Federal Reserve System: A Historical Overview
- 2.1 The Jekyll Island Meeting
- 2.2 Establishment of the Fed
3. The Gold Standard and Its Evolution
- 3.1 Historical Context
- 3.2 The Great Depression and Abandonment of Gold
4. The Collapse of the U.S. Dollar
- 4.1 Factors Leading to Decline
- 4.2 Consequences of Dollar Collapse
5. Global Financial Markets: An Overview
- 5.1 Historical Crises and Their Impact
- 5.2 Case Studies of Financial Collapses
6. Bitcoin: A New Paradigm for Reserve Currency?
- 6.1 Origins and Development of Bitcoin
- 6.2 Prospects of Bitcoin as a World Reserve
7. Comparative Analysis: The United States vs. the Roman Empire
- 7.1 Economic Systems
- 7.2 Currency and Trade
- 7.3 Political Structures and Stability
8. Conclusion
9. References
---
## 1. Introduction
The evolution of monetary systems has been at the forefront of human civilization, shaping economic structures and influencing political dynamics. This dissertation seeks to provide a comprehensive examination of the key components of the U.S. monetary system, its historical context, and its future implications. By analyzing the Federal Reserve, the collapse of the U.S. dollar, the gold standard's history, global financial market dynamics, and the rise of Bitcoin, this work aims to present a nuanced understanding of the current and potential future state of monetary systems, drawn in parallel to the Roman Empire's economic legacy.
## 2. The Federal Reserve System: A Historical Overview
### 2.1 The Jekyll Island Meeting
In 1903, a clandestine meeting took place at Jekyll Island, Georgia, where influential bankers and politicians conspired to create a central banking system. The attendees, representatives of the 13 distinguished banking families, included J.P. Morgan, Nelson Aldrich, and others who recognized the need for a central authority to stabilize the banking system (Birch, 2017). This meeting laid the groundwork for the Federal Reserve Act of 1913, which established the Federal Reserve System, aimed at controlling inflation and managing financial crises (Frankel, 2020).
### 2.2 Establishment of the Fed
Following the Jekyll Island meeting, the Federal Reserve was created with a dual mandate: to promote maximum employment and stable prices. The structure of the Fed, comprising twelve regional banks and the Board of Governors, created a decentralized control mechanism intended to mitigate the concentration of financial power. Over the decades, the Fed has evolved in response to economic transformations, playing a pivotal role during events such as the Great Depression and the 2008 financial crisis (Meltzer, 2009).
## 3. The Gold Standard and Its Evolution
### 3.1 Historical Context
The gold standard, a monetary system where currency value is directly linked to gold, emerged in the 19th century and influenced international trade significantly. Countries adhered to the gold standard to ensure currency stability and enhance credibility in global markets (Temin, 1993). The U.S. officially adopted the gold standard in 1900, which assigned intrinsic value to the U.S. dollar.
### 3.2 The Great Depression and Abandonment of Gold
The Great Depression (1929-1939) highlighted the limitations of the gold standard, prompting widespread economic collapse. The Federal Reserve’s inability to implement effective monetary policies during this period led to the abandonment of the gold standard in 1933 under President Franklin D. Roosevelt (Eichengreen, 1992). This marked a significant shift towards a fiat currency system, allowing greater flexibility in managing the economy.
## 4. The Collapse of the U.S. Dollar
### 4.1 Factors Leading to Decline
The U.S. dollar, once backed by gold, has faced numerous challenges leading to its decline as a global reserve currency. Factors such as excessive fiscal deficits, inflationary pressures, and geopolitical tensions have eroded confidence in the dollar (Cohen, 2019). The shift from a production-based economy to a service-oriented economy has further intensified vulnerabilities.
### 4.2 Consequences of Dollar Collapse
A collapse of the U.S. dollar would have catastrophic global repercussions, destabilizing international trade and investment flows. Historical precedents, such as the devaluation of the British pound post-World War II, illustrate the potential for significant economic disruptions (Kindleberger, 1986).
## 5. Global Financial Markets: An Overview
### 5.1 Historical Crises and Their Impact
Global financial markets have experienced numerous crises, including the 1997 Asian Financial Crisis and the 2008 Global Financial Crisis. These events underscored the interconnectedness of economies and the rapid transmission of financial shocks across borders (Reinhart & Rogoff, 2009).
### 5.2 Case Studies of Financial Collapses
Empirical analysis of these crises reveals common patterns, such as over-leverage, asset bubbles, and inadequate regulatory frameworks. For instance, the 2008 crisis was precipitated by the collapse of the housing market, demonstrating how localized issues can escalate into global calamities.
## 6. Bitcoin: A New Paradigm for Reserve Currency?
### 6.1 Origins and Development of Bitcoin
Bitcoin, created in 2009 by an unknown individual or group under the pseudonym Satoshi Nakamoto, introduced the concept of decentralized currency. As a peer-to-peer electronic cash system, Bitcoin offers a potential alternative to traditional monetary systems, which are susceptible to inflation and governmental control (Nakamoto, 2008).
### 6.2 Prospects of Bitcoin as a World Reserve
The viability of Bitcoin as a world reserve currency hinges on various factors, including its adoption, technological robustness, and regulatory frameworks. Many advocates argue that Bitcoin’s fixed supply and decentralized nature make it an attractive alternative to fiat currencies, particularly amidst ongoing economic uncertainty (Catalini & Gans, 2016).
## 7. Comparative Analysis: The United States vs. the Roman Empire
### 7.1 Economic Systems
Both the U.S. and the Roman Empire developed complex economic systems rooted in trade and currency. The Roman reliance on gold and silver coins mirrored the U.S. historical adherence to the gold standard. The transition to a fiat system in the U.S. reflects an adaptation that the Roman Empire failed to achieve amidst its fiscal crises (Horsley, 2020).
### 7.2 Currency and Trade
The U.S. dollar and Roman currency facilitated trade networks, influencing their respective global standings. However, while the Roman Empire's currency suffered from debasement, leading to inflation, the U.S. dollar's challenges stem from a diverse array of systemic issues (Russet, 2005).
### 7.3 Political Structures and Stability
The centralized power in the U.S. Federal Reserve resonates with the Roman Empire's centralized control. However, while the Federal Reserve operates within a democratic framework, the Roman Empire ultimately succumbed to authoritarian rule, leading to economic instability (Price, 1988).
## 8. Conclusion
The history of the Federal Reserve, the evolution of the gold standard, and the emergence of Bitcoin as a potential world reserve currency present a complex narrative of economic evolution. Drawing parallels with the Roman Empire provides valuable insights into the cyclical nature of fiscal challenges. As the global economic landscape continues to evolve, understanding these dynamics is crucial for policymakers and economists.
## 9. References
- Birch, D. (2017). *The History of Banking: A Financial Timeline.*
- Catalini, C., & Gans, J. S. (2016). Some Simple Economics of the Blockchain. *NBER Working Paper No. 22952*.
- Cohen, B. J. (2019). *The Future of Global Currencies: The Euro Versus the Dollar*.
- Eichengreen, B. (1992). *Golden Fetters: The Gold Standard and the Great Depression, 1919-1939*.
- Frankel, J. A. (2020). *The Federal Reserve and the Evolution of Monetary Policy*.
- Horsley, R. (2020). *Economic Crises and the Fall of Empires: Comparisons and Consequences.*
- Kindleberger, C. P. (1986). *The World in Depression, 1929-1939*.
- Meltzer, A. H. (2009). *A History of the Federal Reserve, Volume 2: 1970-1986*.
- Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System.
- Price, S. (1988). *Principles of the Political Economy of Ancient Rome.*
- Reinhart, C. M., & Rogoff, K. S. (2009). *This Time is Different: Eight Centuries of Financial Folly*.
- Russett, B. M. (2005). *The Political Economy of Currency Stability: Rome and the United States*.
- Temin, P. (1993). *The Great Depression.*
---
@Mkay460 Says:
Guys, what an epic Interview! Keep up the GOOD work!
@mickysquire205 Says:
This bloke loves the sound of his own voice. Sounds like the university dude full of theory off Good Will Hunting
@MarieSavitha Says:
Can some one help me understand how or who arrived at 21MIL bitcoins as the cap?
@BrewerVera Says:
Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.
@weber471 Says:
SOMEBODY HAND ME A HARPOON
@alexrcdude Says:
I really like your channel, thank you. Please consider reducing the amount of ads. I get them every 5 minutes
@ScaleCrawling Says:
The belief in BitCoin is ludicrous. It doesn't exist. It's just an idea that can be replaced by an unlimited number of similar ideas at any time. So it has a price but no value. The value is zero and so the price can also go to zero at any time.
Gold is real and it can't be produced and it cannot be replaced. It can only be created inside an exploading star and no other metal exist that has the same properties. This gives it real value and it also means that the value will always be high.
The belief in the dollar is quite the gamble also. If hyperinflation hits, then the Dollar will become worthless very quickly. So to bet everything on the Dollar and BitCoin sounds like an almost ridiculously bad strategy. If you want to protect your wealth, then land, real estate and gold are better bets, and if you want to grow your wealth then entreprenourship and index funds is the best bet.
@rubenlafond9358 Says:
I challenge your guess to read the Seven Seals and the Seven Church Ages by William Marrion Branham
@lonewolf18650 Says:
How do we hold them accountable
@mib9647 Says:
The rules of the game are clear. It’s not criminal for central banks to play with the money supply. The alternative to the 2008 crisis and COVID crisis were not an option. QE was the only solution.
@jeffwente9331 Says:
30 million illegals ain't helping either!
@jeffwente9331 Says:
I'm guessing that the host voted for Biden the counterfeiters and creators of this inflationary environment. I don't know exactly why,but the host strikes me as a little commie 😅
@AlexWolstencroft Says:
Tom cracks me up, "I'm not smart enough to try to time and beat the market." I email him about my system that yields 100% yearly returns and crickets 😂😂😂😂
@Reseteveryday Says:
XRP
XRP
XRP
@markomonstar4526 Says:
Change the title 4 times on same video psst “they’ll never know “
@stevenb1969 Says:
Wow, was he wrong.
@CryptoDude56 Says:
really dude? not all altcoins are shit coins: Etherum, CARDANA, Solana they will make you richer than btc if you learn how to trade the cycles. you can buy more btc from your altcoin profits. yeah memes are short term plays. this guy is a Bitcoin maxi
@ImperialVantageCo Says:
BTC was created and controlled by the world powers and will be used to psychologically reset the inflationary standard we are already accustomed too
@justwondering1967 Says:
The argument to Ray Dalia’s take on China is that none of us are trying to get to China and plenty of Chinese are trying to get here.
@Alien_Tech_ICP Says:
I don’t know why I keep getting into this guys videos but his paranoia is so annoying me
@crypticmusing Says:
A very underrated point he made at 43:00 about deflation causing innovation to increase the wealth of all. This is exactly what should happen when productivity increases, it takes less labor to get the same output. With inflation, prices rise as production increases. This increased production should be making life easier for everyone, as it now takes less work to get the same result. I am not sure if that is the intention of fiat money, as I believe the intent is theft via deception, but is a consequence of that theft.
The reason what he said is true is because currency is only the store of labor. So as we innovate, the same amount of labor(stored labor) can be be redeemed for even more output, as it was cheaper (took less labor) to produce. This incentivises us to root for each other, as anyone who advances us as a species, creates more wealth for all.
This only works when the store of labor(currency) can not be counterfeited, i.e. increased. If it(currency) remains constant, innovation increases labors value.
@russellsage2159 Says:
Breadlove is going to be sooo Peeved 😂 when he realizes Bitcoin requires a Visa like Layer 2 in order to become a currency 😂
@h22a4crx Says:
one more thing..... have you ever mined on any blockchain? Doubt it. then will you know how real profit loss and how the numbers really work on a reality level.
@h22a4crx Says:
Love how you get so defensive LOL. Listen to someone other than your stupid brain telling you to buy more ETH owned by china and moved by a Russian that called you and I "A FEEBLE HUMAN" LOOK IT UP. Lucky guy that made a buck in the blockchain on a shitcoin. GO ROBERT!
@h22a4crx Says:
ETH holder= Trader to all grassroots movement blockchain investors. You are a disgrace to the movement. SELLOUT
@h22a4crx Says:
only took me 2 days to unsub to you. Roberts chill, you got lucky with ETH and youtube. Move to china ETH holder. BTW......Don't hold either....LMAO. Been in blockchain since 2014 successfuly, LMAO onemore time Tommy boy
@h22a4crx Says:
Robert is AWESOME. Each portfolio is SOOOO different. We all have different motives
@h22a4crx Says:
got into blockchain back in 17. seasoned a bit, I'd say. been through many financial channels over the years. love the truth of your channel. Thank you for all you do.
@LeadingEdgeTexas Says:
That was a great conversation!
@johnlennon232 Says:
In every crisis, there is an opportunity," as the saying goes. The 2024 recession, while challenging, presents unique avenues to amass wealth. First, it's essential to remember Warren Buffet's advice: "Be fearful when others are greedy, and greedy when others are fearful." During recessions, assets often undervalue. By investing wisely in stocks, real estate, or businesses during this downturn, you position yourself for significant returns during the economic recovery.
@lesmadhavji3164 Says:
what about the inheritance of bit coin ,
@BHARATRISING108 Says:
Gosh throwing big names and theories around, listening to this delusional content
@lesmadhavji3164 Says:
robert , you are good ,,,,,,,,,, how is gold priced, who price the gold, who controls that gold,
@CaptainCornchip Says:
My mans wearing a mask but his girls got half of the Northern Hemispheres dna in her 😂
@TheAdejumo Says:
I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.
@jprjr4771 Says:
Please don’t listen to Bitcoin maximalists like this guy. This is a religion to him, so anything else is blasphemy.
@clairvoyant-n9u Says:
Jesus Commandment is on the Tablets In Axum. The return to Israel will create the Rapture.
@clairvoyant-n9u Says:
The dollar is a ponzy and you think bitcoin is not another skeime when it is so hard to produce each new one and the invented owns 51 percent of all bitcoin.
@helloween76 Says:
I LOVE this interview. Has a ton of great info and theories
@Julez0131 Says:
How is it inflation strictly, if CEO”s and corporations are posting record profits?
@mrright1068 Says:
Very inspiring interview!
@IsidroLifford Says:
Recently, the cryptocurrency market is unstable, so it is reliable to earn on Crypton cryptocurrency, because it is stable.
@gocalixto Says:
ads in the video, ads over the video, ads during the video, ads between videos. dude you gotta see 30+ ads during one videocast
@sekhmet1379 Says:
I was thinking on what he is talking about - the character development part and the moral corruption of society. I came upon this video while thinking about these same axioms. Thanks Robert Breedlove.
The only thing I'm not getting is the indoctrination and then the re-introduction of doctrine as the mythological stories that might play a part in our economic narrative.
@mylescharlesworth7771 Says:
lol the Chinese don’t believe in individual rights until they’re the individual the collective wants to murder. Yeah no duh people in the bandit group don’t mind hurting people labeled enemies of the group for “for the good of the collective” which is really just what’s good for the individuals in that group. So really it’s about individual person gain not the collective anyway and people are all for that…til they are the one that gets “too rich or powerful” and the group turns and labels you the enemy. They’re brainwashed.
@goverment457 Says:
Bitcoin is no gold. Or was the gold market invented and the price was almost 0. So one alone can buy half or 80% and so control it. With gold its not possible because gold is already distributed over the world and avaiable everywhere for everyone
@StormKingLand Says:
Between this guy & Raul Paul, is difficult to freak w the narcissism.
@darwonboy Says:
Please stop bringing people on to your channel to talk about crypto that got rich of btc by being early. Their opinion is irrelevant and they have spent years changing and refining their sales pitch. Btc maxis are poisonous to the crypto industry
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