welcome back to the kaiser report imax kaiser time now to return to our conversation with legendary james turk of gold money dot com james welcome back thank you max ok to follow up on our conversation about the new numeric nummi are needed on any economic system you need hard money you need a unit of account i want to hypothetically put you in a radio control tower at the airport and the airplane is about to come in so land and ready hasn't james james i need a runway can you give me a runway and your answer is well walk walk run runway would you feel like landing on. does that make any sense and is that what jay powell effectively is doing as leader of the fat. that's a good way of describing it max you know it gave me chuckle but yeah you know new rare is a fixed unit and that's what you need in order for your calculation brotherson ounce of gold announce a silver but you know some kind of precious metal to determine how you calculate the price of goods and services that's why i always like to use this example of you know kudos over the last 70 years today an ounce of gold buys the same amo

welcome back to the kaiser report imax keyser time now to turn to james turk of gall money dot com full disclosure i am an investor james tarak welcome back thanks max size great be with you all right we're going to pick your brain on some big issues here our stock prices are at all time highs property prices are rocketing by double digit percentage points commodities are on a tear why are we getting so much monetary and fiscal stimulus if by looks like we are in boom times i don't get it explained too much money printing by central banks around the world basing currency and as a consequence what you're seeing is the early stages of a flight out of the currency into real things so the policymakers tell us something different right they say well what are the what do they tell us exactly how do they how do they get away with us they tell us what they want us to hear it all necessarily tell us the whole story and all of this money pretty minutes going on means that there's a lot of inflation in the i mean we're starting to see that you know lumber prices food prices everything pretty much