David Stockman - Massive Stampede Into Real Money As Confidence in Keynesian Regime Evaporates
SBTV's latest guest is David Stockman, the former Director of the Office of Management and Budget under President Ronald Reagan. David believes confidence in central banks is waning and will culminate with a massive stampede into real money - gold and silver.
Discussed in this interview:03:49 Economic shutdowns flattened U.S. economy instead of infection numbers13:17 Government bailing out every citizen19:22 Real return of money is negative22:51 $10 trillion? $20 trillion? What's the limit on Fed's balance sheet?25:44 Cluelessness to basics of finance and sound money29:19 Once gold breaks $1,900, it's off to the races33:09 Long & deep L-shaped bottom ahead for U.S. economy37:04 New monetary system based on gold
David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the author of The Great Deformation: The Corruption of Capitalism in America