The GoldSilver Team
DEC 21, 2023
Mike Maloney and Alan Hibbard analyze the intriguing book "The Great Taking", which offers a sobering account of the potential consequences of the next financial crisis. The authors point to the overleveraged derivatives market underpinned by securities dependent on a strong working class. If the working class falters, it could create a cascading crisis leading to bank failures and a consolidation of assets by surviving big banks. This threatens the "you'll own nothing and be happy" dystopian scenario. The book also explores the stagnant velocity of money in the U.S. economy, suggesting major underlying issues have been worsening for decades. Overall, it presents a stark warning about the fragility of the system and how ordinary people stand to lose assets with little legal recourse in the next crash.
Mike Maloney is more than just a legend in the precious metals industry. He’s on a mission to help everyone maximize their individual prosperity. Mike is best known as the host of the hit video series Hidden Secrets of Money and his extremely popular YouTube channel which has over 100 million views, where he reveals the truth about money, currency, and the flaws in our monetary system. Mike’s also a best-selling author of Guide to Investing in Gold and Silver, and The Great Gold and Silver Rush of the 21st Century. For nearly two decades, Maloney has traveled the globe, sharing his deep insights into economics and monetary history with diverse audiences, from Silicon Valley tech gurus to Wall Street financiers, and from Hong Kong business leaders to Roman scholars.
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