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Podcast: Wealth Formula Podcast
Episode: 473: A Sound Money Bond?
Description: Gold bugs love to float the idea of bringing back the gold standard, tying the value of the U.S. dollar to a fixed amount of gold. On the surface, it might sound like a great way to return to "sound money." But if you dig a little deeper, it's full of problems that would likely take us backward rather than forward. First, let's talk about deflation, one of the scariest economic forces out there. Economist Richard Duncan and others warn that a gold standard would likely send us straight into a deflationary spiral. Think of it this way: when...