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Episode 2: G. Edward Griffin – What Is Money and Why Currencies Fail

G. Edward Griffin explains how he got started investigating the Federal Reserve. Once he realized that the Fed was created in secret, he realized there was a bigger story. He explains what money is and why fiat currencies ultimately collapse. Governments and bankers love the ability to create money out of thin air which usually causes inflation. He explains why modern currencies have no intrinsic value and very little in common with gold and silver.

When asked about the U.S. national debt Edward says that it will only continue to expand as long as people have faith in the monetary system. The debt will continue to grow as long as governments require the use of legal tender. The United States has a worldwide monopoly as the dollar is the worlds reserve currency. This is the reason why the current system has been able to persist for so long since the United States can export inflation and dollars to the rest of the world. As long as the U.S. can enforce the petrodollar people will accept the dollar as a medium of exchange. Many countries are upset with this arrangement and are actively looking for alternative systems. He feels the present system will soon grind to a halt.

Mr. Griffin states that when all faith in the dollar is lost there is little one can do to insulate one’s friends and family. Every financial asset denominated in dollars will eventually become worthless. Most will turn to the elected officials that created the problem in the first place. The demand for more government controls will likely lead to totalitarianism.

Talking Points From This Weeks Episode
• Definition of money
• Expansion of the U.S. debt
• Preparation for the dollar collapse.

G. Edward Griffin (born November 7, 1931) is an author, lecturer, and filmmaker. He is the author of The Creature from Jekyll Island, which promotes theories about the motives behind the creation of the Federal Reserve System. Griffin’s writings include many views regarding various political, defense and health care interests.

 

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2 Responses on “Episode 2: G. Edward Griffin – What Is Money and Why Currencies Fail”

Jane says:

What a terrific interview with G. Edward Griffin! The toughest question and answer: what can we do to prepare for the currency collapse? The truth is sometimes difficult to hear but it IS the best answer. Individualism, freedom vs. dependence – these are the choices that are most difficult for people but are far far better than looking for a ‘savior’ from government.
Listen to the very end…

Gena Lofton says:

Jane, so so true, I was so fortunate to spend a few days with G. Edward Griffin, he is amazing. Love being able to start with Ed’s episode as the beginning of the show, as all shows about money and investing, must start at the beginning, that’s why people are financially illiterate today as they don’t know anything about money. Really, loving sharing this with everyone.

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