Kamala Harris Solves Inflation? - WiM Weekly
A weekly rundown of new WiM podcast releases and some food for thought
“On Friday in North Carolina, Vice President Kamala Harris plans to propose the first-ever federal ban on “corporate price-gouging in the food and grocery industries,” her campaign announced late Wednesday.” — NBC News
We did it Joe, we solved inflation! In an unprecedented stroke of genius, Kamala Harris has legislated away rising food prices. I’m eagerly awaiting her next plan to make minimum wage $100 dollars per hour, send everyone $1,000,000 stimulus checks, and cap gas at $1 per gallon. Why hasn’t anyone thought of this before?
Unfortunately, they have. On August 15, 1971, in a televised address to the nation, President Richard Nixon announced, “I am today ordering a freeze on all prices and wages throughout the United States.” After the 90-day freeze, any future price increases required approval from a “Pay Board” and “Price Commission” with the aim of lifting controls after the 1972 election.
The result, as Milton Friedman put it, was an “utter failure and the emergence into the open of the suppressed inflation.” In “The Commanding Heights: The Battle for the World Economy,” Daniel Yergin and Joseph Stanislaw highlighted the clear failure of Nixon’s price controls: “Ranchers stopped shipping their cattle to the market, farmers drowned their chickens, and consumers emptied the shelves of supermarkets.”
Money is not the good or service itself. Money is an instrument that can be used to acquire any good an economy can produce. When the supply of money increases, each monetary unit “owns” a smaller percentage of the total stock of goods available. Put simply, increasing the money supply is theft from savers via purchasing power debasement. Dishonest politicians rush to attribute blame for this theft (and the resulting rising prices) to producers, while conveniently ignoring the role of the currency counterfeiting monopoly they control (the central bank).
This Week:
WiM504 with Zac Townsend
“There we 57 countries in the world last year that had inflation rates over 10% … If you live in Argentina, or Turkey, or Nigeria you don't have [life] insurance because you are going to live longer than the Argentinian peso. [Our dream is] that the Bitcoin economy is not just for people who bought Bitcoin in 2013 and have proven to be geniuses … This idea of a global decentralized store of value out outside the control of any government and any state is world changing, and it can be truly transformational for people who live in countries who have just had completely mismanaged and unstable monetary systems.” — Zac Townsend
Link to full episode: Life Insurance On A Bitcoin Standard with Zac Townsend (WiM504)
WiM505 with Fred Thiel
“Compare Bitcoin to gold, silver, and other commodities that aren’t finite. Bitcoin is the only investment instrument that you can’t print more of. Ever. Why shouldn’t you try and accumulate as much as possible while you can? No matter whose math [you use], if Bitcoin is going to go to zero, my [mining business] is going to be out of business anyway. So why shouldn’t I try and have as much Bitcoin on my balance sheet as possible?” — Fred Thiel
The full episode with Fred Thiel will go live today (8/16/24) at 3:00pm EST.
We’ve relaunched the Clips Channel! Subscribe for highlights from episodes and other exclusive content:
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Next Week:
8/20 with Brandon Quittem
Brandon Quittem is an entrepreneur, writer, speaker, and passionate Bitcoiner.
8/23 with Bitcoin Mechanic
Bitcoin Mechanic is a Bitcoin advocate and educator who has worked in Bitcoin related operating systems, coin recovery, and personal mentorship in self-custody for all things Bitcoin/lightning.
Events on the Horizon:
We have a few rooms still open for the men’s retreat I am hosting in Mexico this September 5-9. We will be doing some bio hacking, physical movement, breath work, meditation, and laying the groundwork for a group of men focused on the cultivation of excellence. All of this in a stunning tropical retreat center…
So if you aspire to:
1. Be financially free
2. Be physically fit
3. Be a man of wisdom
Then this is a great place to start!
The Art of Alpha Retreat: https://www.breedloveevents.com/
Sponsors:
In Wolf's Clothing: https://wolfnyc.com/
The Farm at Okefenokee (mention BREEDLOVE for $21,000 off a custom cabin):
Heart and Soil Supplements (discount code BREEDLOVE): https://heartandsoil.co/
Products I Endorse:
EFANI: Protect your mobile phone from SIM swap attacks: https://www.efani.com/breedlove
Noble Protein (discount code BREEDLOVE for 15% off): https://nobleorigins.com/
The Bitcoin Advisor: https://content.thebitcoinadviser.com/breedlove
Lineage Provisions (use discount code BREEDLOVE): https://lineageprovisions.com/?ref=breedlove_22
Colorado Craft Beef (use discount code BREEDLOVE): https://coloradocraftbeef.com/
Whole Paycheck