Transcript of JBP Podcast titled ‘ECONOMIC STORMS ARE GATHERING’. In this episode, Dr. Jordan B. Peterson and economist Peter Schiff discuss the gold standard, the corruption and impending failure of the fiat system in the wake of inflation, why politicians are pushing inflation to astronomical new levels, and why they’re lying about it.
DR. JORDAN B. PETERSON: Hello, everyone. I’m speaking today with Peter Schiff, the economist and stockbroker who successfully predicted the 2008 housing crisis. Today, we will discuss the current market, hyperinflation, fiat currency, and the value of gold in times of instability. Looking forward to the conversation.
So thank you very much for talking to me today and to everyone who’s watching and listening. Thank you for your time and attention. That’s much appreciated.
So the first thing I guess I might ask is what do you think it is that the typical person who’s watching or listening should know on the financial front practically for their own protection and incremental wisdom that they don’t know? I mean, people aren’t taught even the basics of how to think financially in our education system, and so maybe you could walk through what you regard as the basics of financial literacy on the practical front.
WHAT YOU SHOULD KNOW ABOUT INFLATION
PETER SCHIFF: Well, there’s a lot there, but I think the most pertinent thing that people need to understand before they make any investments, really, particularly now, is inflation and the impact that inflation is going to have on the decisions that they make on their savings and their investment, because inflation is probably a bigger threat now than it’s ever been. And therefore, it’s an even bigger factor in determining everything that we do and ultimately what the rewards are going to be or the returns from your investments.