3:00 Inflation is really 12% 5:00 Fed lends reserves to banks, who buy assets 7:45 Who's gonna buy treasuries? Noone. So rates will go up 8:30 Repocalypse. Corporate debt problem go papered over in Sep 2019 9:30 High jobs opening vs high unemployment - drug use, skills mismatch 11:55 High personal savings 12:10 Savings in normal capitalist society vs inflationary society. The former save to invest for more consumption in future, the latter save and spend on drugs and consumption 13:00 1/3 of small businesses will not make it to next year 13:50 Airlines can't find pilots; shipping container costs 15:00 Why gold hasn't risen in high inflationary environment 16:20 Margin call leads to gold sell-off March 2020 18:00 Divergence of negative real rates and price of gold 19:10 Next level QE is what will propel gold 20:45 Gold vs silver monetary functing through history (capital vs goods transaction) 22:05 Digital currencies have no stability 25:20 $10,000 gold 26:05 What backs the dollar