How the US Economy & Inflation Works w/ Russell Grey

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You print too many dollars and people lose faith in the dollar. The only reason we’re able to pull this off is because we issue the world’s reserve currency and the whole world has to suck up all these dollars. The problem is if someone were to come along like a china and say, hey, we’ve got 20,000 tons of gold, not eight, and we have a big manufacturing economy, and we’re willing to back up our currency with gold, then everybody would move out of the dollar and into gold, and the dollar would collapse. All those excess dollars would come home, and we would end up in America with hyperinflation. And that’s the kicker, right? You hear all the stories about Zimbabwe and all these other countries have ever had hyperinflation, they don’t have that kicker that the United States has. Yeah, I mean, our exorbitant privilege is that we have the ability to print as many dollars as we want, spend as much money as we want, and the rest of the world has to provide it for us because there’s always a bid on the dollar just like there’s always a bid on goal.

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