Thursday , November 22 2018
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Interview, Ted Talk, Gold Bug Hope

Summary:
I was on the Jay Taylor Show again, to talk about the the Swiss franc. No, the headline was not of my choosing. Adam Caroll gave a Ted Talk about how people behave differently when money isn’t real. And gets into a discussion of how kids will click to spend on their parents’ phones without any real appreciation for what it costs. It’s called “When money isn’t real“. Real being the paper dollar, and unreal being a credit card, or worse yet, waving your phone over a payment sensor. I just wanted him to see that his “real” money has, itself, been divorced from anything real. Similarly, economist Paul Romer, who just won the Nobel Prize, criticized economic models which are “pseudoscience”. He meant when central banks rely on flawed models, though he doesn’t see the applicability to the very

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I was on the Jay Taylor Show again, to talk about the the Swiss franc. No, the headline was not of my choosing.

Adam Caroll gave a Ted Talk about how people behave differently when money isn’t real. And gets into a discussion of how kids will click to spend on their parents’ phones without any real appreciation for what it costs. It’s called “When money isn’t real“. Real being the paper dollar, and unreal being a credit card, or worse yet, waving your phone over a payment sensor.

I just wanted him to see that his “real” money has, itself, been divorced from anything real. Similarly, economist Paul Romer, who just won the Nobel Prize, criticized economic models which are “pseudoscience”. He meant when central banks rely on flawed models, though he doesn’t see the applicability to the very idea of having a central bank in the first place! The premise is that free markets fail, and central planners can prevent or mitigation this failure. And he doesn’t like when central planners use models that are flawed. Oh, that’s just rich!

Keith Weiner
Keith Weiner is CEO of Monetary Metals, a precious metals fund company in Scottsdale, Arizona. He is a leading authority in the areas of gold, money, and credit and has made important contributions to the development of trading techniques founded upon the analysis of bid-ask spreads. He is founder of DiamondWare, a software company sold to Nortel in 2008, and he currently serves as president of the Gold Standard Institute USA. Weiner attended university at Rensselaer Polytechnic Institute, and earned his PhD at the New Austrian School of Economics.

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