** From Solid Gold to Destructive Paper, the Twentieth Century Debacle of Transforming Money from Good to Bad, with Dr. Joseph Salerno**
Dr. Salerno is the academic vice president of the Ludwig von Mises Institute (www.mises.org), professor of economics at Pace University, and editor of the Quarterly Journal of Austrian Economics. He is the author of Money: Sound and Unsound, a highly recommended book on money and economic history.
Can you imagine your money worth MORE year after year, instead of steadily losing its Purchasing Power – as we all see happening?
Can you imagine the same dollars buying more and your money’s Store of Value Power improving year after year? This is exactly what Americans once experienced when our money was SOUND.
What happened to sound money? How did we go from good, stable money to terribly unstable fiat money in less than a century?
The classical gold standard provided a period of prosperity and monetary stability. But instead of maintaining prosperity and stability, all of the developed nations, during WWI, abandoned gold to go to war. And they never looked back!
The journey away from Sound Money to Manipulated Fiat Money has been a sordid tale that has wrought much suffering in the world.
Nations and their Central Banks adopted centrally manipulated money exchange standards that led to The Great Depression of the 1930’s. They again imposed these manipulated “standards” in the 1970’s and it led to stagflation. Isn’t insanity doing the same thing over and over again expecting a different result?
Dr. Salerno also explains the very sneaky accounting tricks the government uses to fudge the numbers which hides the REAL rate of price inflation.
Finally, he will explain how the unstable fiat currencies of the world are destroying Europe, Japan, China, – and America – and most importantly, how we can yet avoid catastrophe and return to Money that is sound, stable and the foundation of long lasting prosperity.
Please join us for this very important show that provides a comprehensive historical prospective on this vitally important topic.
This show was Created and is Hosted by Mr. Drew Hjelm who is joined by a Special Commentator, Mr. Zach Halstead, who is the president of the Austrian Economics Club at the University of Iowa.