it's interesting because bretton woods came just. closing the world war 2 but the other example is world war 2 that was in my mind interesting to explain a little bit about monetary history and imports of gold is what happened in west germany when the allies the french germans the french british and the americans created their predecessor for the bundestag when they did is that made the biggest bank completely separate and distinct from the government so the biggest bank could say no to buying government bonds because what happened was is that government allies realize that in order to fight a war you have to have control of the currency and they just won 2 wars against the germans they didn't want to fight a 3rd so they made sure there was that clinical discipline between the buns bank and the government and the irony is that they didn't impose it on themselves they really imposed on germany and it worked very very well the bundestag did a remarkable job of managing the national currency the deutsche mark up until the euro but now t

the garbage they're going to try a new brand what what are they going to do yeah bretton woods was just a government organization to bring strive to create a new career for the international monetary system. that was the principal thing but the secondary thing that it did was to try to remove gold from the international monetary system to remove that discipline that kept central banks from getting too much money too much currency you know the history of money and 20th century is trying to separate national currencies from gold because central banks and governments didn't want to live within the discipline that don't gold imposes on the monetary system and you know we now have a monetary system nationally internationally without any kind of discipline which is why we have these problems today and why run this path to hyperinflation. it's interesting because bretton woods came just close your closing of world war 2 but the other example is world war 2 that was in my mind interesting to explain a little bit about monetary history and imports of gold is what happened in west germany when th

dollar standard post bretton woods was a farce until de gaulle sent a naval chef and got his gold back then and the farce ended somebody has to call it not everybody could live americans living off your house price gains as something new don't merican that's something we saw for a long time in the u.k. we witnessed it like lots of our friends who just extract equity from their house prices which were going up 2 or 3 times the average wage and the united kingdom so if you have a property you happen to have bought it in the eighty's and you are sitting pretty and not having to work but eventually somebody has to work and somebody if you're working you want to you want to make sure i like hey why does everybody else in the world why did these billions of people get to sit around on my hard labor maybe might start asking for our so hard money right but claim is the spec of attack calling time on the central banks people like michael saylor and are going to cause huge changes ok they will be come back much more coming your way. welcome back to the kaiser report imax kaiser it's i'm going to