What's the situation of inflation like in the past? Did the government show support to its people?
This episode is like a blast from the past as Colton and Joel McGriff talk about Joel's experience with inflation back in the day. He narrates the situation of how it is like living in the past where the money's value is really low, no matter which part of the world you are in. Joel also mentions how the government dealt with inflation. This episode also clarifies the infinite banking system and the importance of understanding the issue: If you understand the problem, you'll know what to do.
Highlights:
- History always repeats itself if you don't learn it. - 0:23
- Is inflation calculated lower so it won't seem as bad as it really is? - 1:39
- Realization about inflation: Joel's experience back in the day. - 2:51
- What is Joel referring to as other nations and why are they a big deal? - 4:57
- The Volcker moment. - 8:47
- During inflation, if all the money is going to interest payments and entitlements, where does the money come from? - 10:31
- There's not a perfect solution. - 14:11
- It's a lot easier to stick to your guns today in terms of being in the infinite banking system. - 14:39
- The infinite banking concept. - 15:37
- If you understand the problem, you'll know what to do. - 17:53
Resources and Links: - https://www.themcgriffalliance.com
- colton@tmafamily.com
- kierson@tmafamily.com
- joel@tmafamily.com
- Phone: 205-991-4448
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