Max Keiser interviews Lawrence Lepard, an independent investment adviser, about inflation and global trade. They discuss the consequences of President Richard Nixon’s decision to take the US dollar off the gold standard in 1971.
That was “a horrible decision,” Lepard says, adding, “To me, so many ills that we face in our society are a function of not having sound money.” According to the investment manager, “It’s a tax that nobody voted for and it’s been horrible for the country.”
Lepard says that “it took an awful long time” but he hopes “the endpoint will come sooner than later and we’ll return to a sound money standard.”
He adds that “Washington is corrupt, if you take away their ability to print money and control the printing press, then Washington is going to disappear. We don’t need them.”
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