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.
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.
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.
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/
[{"id":2330,"link":"https:\/\/blog.milliondollarbookagency.com\/chris-fenning-author-of-the-first-minute-how-to-start-conversations-that-get-results\/","name":"chris-fenning-author-of-the-first-minute-how-to-start-conversations-that-get-results","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/11\/Chris-Fenning.png","alt":""},"title":"Chris Fenning - Author of \"The First Minute: How to Start Conversations That Get Results\"","excerpt":"","content":"Mike interviews Chris Fenning. Most people fumble in the first few moments of communication. Whether it's a sales pitch, a business meeting, or just introducing","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Nov 21, 2024","dateGMT":"2024-11-21 12:44:10","modifiedDate":"2024-11-21 12:44:13","modifiedDateGMT":"2024-11-21 12:44:13","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":4,"sec":43},"status":"publish"},{"id":2310,"link":"https:\/\/blog.milliondollarbookagency.com\/kenneth-cloke-author-of-resolving-conflicts-at-work-ten-strategies-for-everyone-on-the-job\/","name":"kenneth-cloke-author-of-resolving-conflicts-at-work-ten-strategies-for-everyone-on-the-job","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/11\/Kenneth-Cloke.png","alt":""},"title":"Kenneth Cloke - Author of \"Resolving Conflicts at Work: Ten Strategies for Everyone on the Job\"","excerpt":"","content":"Mike interviews Kenneth Cloke. In any organization, conflict is inevitable. It\u2019s not the fact that problems come up that matters. It\u2019s how we choose to","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Nov 15, 2024","dateGMT":"2024-11-15 13:18:10","modifiedDate":"2024-11-15 13:18:13","modifiedDateGMT":"2024-11-15 13:18:13","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":5,"sec":33},"status":"publish"},{"id":2299,"link":"https:\/\/blog.milliondollarbookagency.com\/honoree-corder-author-of-your-book-means-business-save-time-make-money-and-dominate-your-industry-with-the-power-of-a-bespoke-book\/","name":"honoree-corder-author-of-your-book-means-business-save-time-make-money-and-dominate-your-industry-with-the-power-of-a-bespoke-book","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/11\/honoree-corder.png","alt":""},"title":"Honor\u00e9e Corder - Author of \"Your Book Means Business: Save Time, Make Money, and Dominate Your Industry with the Power of a Bespoke Book\"","excerpt":"","content":"Mike interviews Honor\u00e9e Corder. When Honor\u00e9e Corder stepped into this latest episode of Million Dollar Stories, sparks flew. You know, there are interviews, and then there","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Nov 13, 2024","dateGMT":"2024-11-13 14:28:54","modifiedDate":"2024-11-13 14:42:04","modifiedDateGMT":"2024-11-13 14:42:04","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":5,"sec":45},"status":"publish"},{"id":2290,"link":"https:\/\/blog.milliondollarbookagency.com\/frank-somma-author-of-b2b-is-really-p2p-how-to-win-with-high-touch-in-a-high-tech-world\/","name":"frank-somma-author-of-b2b-is-really-p2p-how-to-win-with-high-touch-in-a-high-tech-world","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/11\/Frank-Somma.png","alt":""},"title":"Frank Somma - Author of \"B2B Is Really P2P: How to Win With High Touch in a High Tech World\"","excerpt":"","content":"Mike interviews Frank Somma. In a world buzzing with tech, automation, and algorithms, there\u2019s one question every business owner, sales professional, and entrepreneur needs to","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Nov 7, 2024","dateGMT":"2024-11-07 20:21:31","modifiedDate":"2024-11-07 20:21:34","modifiedDateGMT":"2024-11-07 20:21:34","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":5,"sec":45},"status":"publish"},{"id":2268,"link":"https:\/\/blog.milliondollarbookagency.com\/agnesia-agrella-author-of-mind-your-own-business-your-money-is-your-business\/","name":"agnesia-agrella-author-of-mind-your-own-business-your-money-is-your-business","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/11\/Agnesia-Agrella.png","alt":""},"title":"Agnesia Agrella - Author of \"Mind Your Own Business: Your Money Is Your Business!!!\"","excerpt":"","content":"Mike interviews Agnesia Agrella. In this episode of Million Dollar Stories, We sat down with Agnesia Agrella, a powerful force in the personal finance world","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Nov 4, 2024","dateGMT":"2024-11-04 12:00:00","modifiedDate":"2024-11-02 15:27:47","modifiedDateGMT":"2024-11-02 15:27:47","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":5,"sec":32},"status":"publish"},{"id":2264,"link":"https:\/\/blog.milliondollarbookagency.com\/andrew-sherman-author-of-mergers-and-acquisitions-from-a-to-z\/","name":"andrew-sherman-author-of-mergers-and-acquisitions-from-a-to-z","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/11\/Andrew-Sherman.png","alt":""},"title":"Andrew Sherman - Author of \"Mergers and Acquisitions from A to Z \"","excerpt":"","content":"Mike interviews Andrew Sherman. In this episode of Million Dollar Stories, We had the pleasure of speaking with Andrew Sherman, a seasoned expert in mergers","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Nov 4, 2024","dateGMT":"2024-11-04 11:30:00","modifiedDate":"2024-11-05 17:12:47","modifiedDateGMT":"2024-11-05 17:12:47","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":4,"sec":28},"status":"publish"},{"id":2261,"link":"https:\/\/blog.milliondollarbookagency.com\/brian-domitrovic-author-of-taxes-have-consequences-an-income-tax-history-of-the-united-states\/","name":"brian-domitrovic-author-of-taxes-have-consequences-an-income-tax-history-of-the-united-states","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/11\/Brian-Domitrovic.png","alt":""},"title":"Brian Domitrovic - Author of \"Taxes Have Consequences: An Income Tax History of the United States\"","excerpt":"","content":"Mike interviews Brian Domitrovic. In this episode of Million Dollar Stories, Brian Domitrovic, a distinguished historian and co-author of the eye-opening book Taxes Have Consequences:","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Nov 4, 2024","dateGMT":"2024-11-04 11:25:00","modifiedDate":"2024-11-01 16:26:49","modifiedDateGMT":"2024-11-01 16:26:49","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":4,"sec":25},"status":"publish"},{"id":2257,"link":"https:\/\/blog.milliondollarbookagency.com\/bradley-birkenfeld-author-of-lucifers-banker-uncensored-the-untold-story-of-how-i-destroyed-swiss-bank-secrecy\/","name":"bradley-birkenfeld-author-of-lucifers-banker-uncensored-the-untold-story-of-how-i-destroyed-swiss-bank-secrecy","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/11\/Bradley-Birkenfeld.png","alt":""},"title":"Bradley Birkenfeld - Author of \"Lucifer\u2019s Banker Uncensored: The Untold Story of How I Destroyed Swiss Bank Secrecy\"","excerpt":"","content":"Mike interviews Bradley Birkenfeld. In this episode of\u00a0Million Dollar Stories, We had the privilege of speaking with Bradley Birkenfeld, the whistleblower who took on the","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Nov 1, 2024","dateGMT":"2024-11-01 15:42:47","modifiedDate":"2024-11-01 15:42:50","modifiedDateGMT":"2024-11-01 15:42:50","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":4,"sec":54},"status":"publish"},{"id":2254,"link":"https:\/\/blog.milliondollarbookagency.com\/doug-collins-author-of-the-home-based-business-guide-to-write-off-almost-anything-youll-keep-more-money-once-you-know-these-tax-secrets\/","name":"doug-collins-author-of-the-home-based-business-guide-to-write-off-almost-anything-youll-keep-more-money-once-you-know-these-tax-secrets","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/11\/Doug-Collins.png","alt":""},"title":"Doug Collins - Author of \"The Home-Based Business Guide to Write Off Almost Anything: You'll Keep More Money Once You Know These Tax Secrets\"","excerpt":"","content":"Mike interviews Doug Collins. If you're hustling to build your empire, you know every dollar counts. In this week\u2019s episode of Million Dollar Stories, I","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Nov 1, 2024","dateGMT":"2024-11-01 15:22:42","modifiedDate":"2024-11-02 15:36:17","modifiedDateGMT":"2024-11-02 15:36:17","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":5,"sec":39},"status":"publish"},{"id":2251,"link":"https:\/\/blog.milliondollarbookagency.com\/joseph-gulesserian-author-of-the-practical-m-b-a-on-economics-what-they-do-dont-teach-you-at-business-school\/","name":"joseph-gulesserian-author-of-the-practical-m-b-a-on-economics-what-they-do-dont-teach-you-at-business-school","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/11\/Joseph-Gulesserian.png","alt":""},"title":"Joseph Gulesserian - Author of \"The Practical M.B.A. on Economics: What They Do & Don\u2019t Teach You at Business School\"","excerpt":"","content":"Mike interviews Joseph Gulesserian. In this episode of Million Dollar Stories, We had the privilege of sitting down with Joseph Gulesserian, the man behind The","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Nov 1, 2024","dateGMT":"2024-11-01 15:12:29","modifiedDate":"2024-11-01 15:12:32","modifiedDateGMT":"2024-11-01 15:12:32","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":5,"sec":34},"status":"publish"},{"id":2241,"link":"https:\/\/blog.milliondollarbookagency.com\/dr-kelly-waltman-author-of-elevate-connection-cultivate-an-engaged-inspired-productive-and-profitable-team-culture\/","name":"dr-kelly-waltman-author-of-elevate-connection-cultivate-an-engaged-inspired-productive-and-profitable-team-culture","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/10\/Dr.-Kelly-Waltman.png","alt":""},"title":"Dr. Kelly Waltman - Author of \"Elevate Connection: Cultivate an Engaged, Inspired, Productive, and Profitable Team Culture\"","excerpt":"","content":"Mike interviews Dr. Kelly Waltman. On this latest episode of Million Dollar Stories, Dr. Kelly Waltman joined the conversation to share insights from her book,","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Oct 30, 2024","dateGMT":"2024-10-30 11:31:00","modifiedDate":"2024-11-01 14:18:10","modifiedDateGMT":"2024-11-01 14:18:10","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":4,"sec":56},"status":"publish"},{"id":2220,"link":"https:\/\/blog.milliondollarbookagency.com\/robert-mazur-author-of-the-infiltrator-my-secret-life-inside-the-dirty-banks-behind-pablo-escobars-medellin-cartel\/","name":"robert-mazur-author-of-the-infiltrator-my-secret-life-inside-the-dirty-banks-behind-pablo-escobars-medellin-cartel","thumbnail":{"url":"https:\/\/blog.milliondollarbookagency.com\/wp-content\/uploads\/2024\/10\/robert-mazur.png","alt":""},"title":"Robert Mazur - Author of \"The Infiltrator: My Secret Life Inside the Dirty Banks Behind Pablo Escobar's Medellin Cartel\"","excerpt":"","content":"Mike interviews Robert Mazur. In the labyrinthine world of organized crime, where corruption and collusion reign, few have ventured as deep as Robert Mazur. As","author":{"name":"Bookman Forever","link":"https:\/\/blog.milliondollarbookagency.com\/author\/mdbapodcast\/"},"date":"Oct 24, 2024","dateGMT":"2024-10-24 10:50:00","modifiedDate":"2024-11-01 14:19:30","modifiedDateGMT":"2024-11-01 14:19:30","commentCount":"0","commentStatus":"open","categories":{"coma":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>","space":"<a href=\"https:\/\/blog.milliondollarbookagency.com\/category\/podcasts\/\" rel=\"category tag\">Podcasts<\/a>"},"taxonomies":{"post_tag":""},"readTime":{"min":4,"sec":27},"status":"publish"}]
