Alex J. Pollock – Author of “Finance and Philosophy: Why We’re Always Surprised”

From Inflation to Power Shifts: Alex J. Pollock’s Eye-Opening Dive into Political Finance

Mike interviews Alex J. Pollock.

Today’s episode was an absolute game-changer. We had the privilege of diving deep into the world of finance with none other than the incredible Alex J. Pollock. This man has been in the banking game since 1969, and trust me, he’s got some eye-opening insights to share. Buckle up, folks, because we’re about to uncover the hidden truths behind the Federal Reserve, perpetual debt, and the secrets of our monetary system.

SUMMARY

Ever felt like there’s an invisible tax on your hard-earned money? Alex dropped a truth bomb on us – continuous inflation is exactly that. It’s a sneaky tax on anyone holding money, including those with savings accounts. How does this work? When the interest rates on savings are suppressed, wealth is transferred from money holders to the government. The fiat system allows the government to finance deficits indefinitely, making it a subtle yet effective way of expropriating purchasing power.

Hold on tight because this revelation might just blow your mind. Alex simplified the concept of perpetual debt with a powerful analogy. Imagine a banking system that lends you $100 but demands $110 in return. Where does that extra $10 come from? The Federal Reserve. This perpetuates a cycle of constant debt, creating what can only be described as a modern-day slavery system. The Federal Reserve creates a debt-ridden society by injecting money into the system.

Alex emphasized a crucial point – there’s no such thing as pure finance; there’s only political finance. The shift from the gold standard in 1971 marked a pivotal moment in our monetary history. With the introduction of a fiat system, there are no limits on how big a government deficit can be. This translates to an increase in government power. As you monetize and free up money, the government gains the financial resources to expand its reach and control.

Mike Fallat and Alex J. Pollock talk about the book Finance and Philosophy: Why We’re Always Surprised.

Let’s talk about inflation, the silent wealth eroder. While some may cheer at a seemingly low 3% inflation rate, Alex breaks down the reality. Over a lifetime, a 3% inflation rate results in prices going up 10 times! Imagine the impact of a 4% inflation rate – prices skyrocketing 23 times. It’s not just a tax without legislation; it’s a constant expansion of government power through the central bank, all cleverly disguised.

Alex shared two must-reads for anyone looking to unravel the mysteries of finance. First up, Frank Knight’s book is a treasure trove of insights. But that’s not all; he also recommended “The Fourth Branch” by Bernard Shull. This gem provides a historical perspective on the Federal Reserve’s unlikely rise to power. Both books promise to be eye-openers for those eager to understand the intricacies of our financial system.

As we wrapped up the episode, Alex left us with a powerful notion – there’s no such thing as pure economy, only political economy. The fiat currency system, though clever, is also insidious. It not only inflates the currency but also empowers the government at the cost of the people. This conversation with Alex J. Pollock was nothing short of mind-blowing. We’ve scratched the surface today, but there’s more wisdom to uncover.

Visit his website: alexjpollock.com

Get his book here:

About Mike Fallat

Mike Fallat, aka The BookMan, is the owner of Dreamstarters Publishing and the Million Dollar Book Agency. They have helped 300+ entrepreneurs become bestselling authors. His goal is to help 1,000 entrepreneurs publish books and teach them how to use their books as a gateway to generating 7-figures.

Visit website for more information: https://www.milliondollarbookagency.com/

About Dreamstarters Publishing


Dreamstarters Publishing offers ghostwriting, cover design, and everything that is required to take an idea to a finished book (kindle, paperback, hardcover, and audiobook).


The Million Dollar Book Agency is the ultimate marketing CRM system for author-preneurs. Services include automated funnels, lead generation campaigns, book fulfillment, podcast management, press releases, virtual assistants, course development, and more.

Mike also hosts a podcast known as Million Dollar Stories and runs a membership-based site known as Million Dollar Circle. In addition to owning the book business, he invests in self storage real estate.

https://dreamstarterspublishing.com/

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