TFMR Podcast #30 - Detlev Schlichter, author of the book, Paper Money Collapse


Earlier on Friday, I was able to visit with economist, author and blogger Detlev Schlichter.

Current events dictated that now would be the perfect time for me to introduce you to Detlev. With the re-introduction of overt QE and the impending American elections, there's a lot of talk currently about Keynesian economics and the supposed benefits of deficit spending and unlimited fiat creation. As a committed Austrian economist, Detlev does a brilliant job exposing the fallacies of these policies as well as highlighting their inherent dangers, not just to the global economy but to individual freedom and liberty, as well.

I'm confident that you'll enjoy this podcast (even though we had a brief, technical glitch at about the 7:30 mark). You should also give great consideration to buying Detlev's book. Read it yourself and then pass it along to friends and family who, as yet, fail to grasp that the end of the Great Keynesian Experiment is truly upon us.


Oct 19, 2012 - 1:46pm

2nd maybe

Hey Hey

Daedalus Mugged
Oct 19, 2012 - 1:46pm

Timing is good

I have asked for Detlev's book last week via interlibrary loan, as my county library system didn't have a copy.

Oct 19, 2012 - 1:55pm


Nicely done, and thanks for continually bringing us all of these fine guests in your growing archive of podcasts.

Oct 19, 2012 - 2:00pm


you have once again helped weaken my confidence in the dollar. stay the course. keep stacking. i think i will go and create some REAL economic activity down at my local coin shop today.

Oct 19, 2012 - 2:08pm

Central Fund of Canada...

...has filed a preliminary base shelf prospectus for an offering amount not to exceed U.S.$1,000,000,000 today.

Central Fund will only proceed with any such offerings if they are non-dilutive to the net asset value of the Class A Shares owned by the existing Shareholders of Central Fund. Substantially all of the net proceeds of the offering will be used for gold and silver bullion purchases in keeping with the asset allocation policies established by the Board of Directors of Central Fund. Any additional capital raised by any such offering is expected to assist in reducing the annual expense ratio

Money By Trading
Oct 19, 2012 - 2:28pm

Around the Corner: Huge Buying Opportunity

Stacking is a great way to save yourself from selling into weakness.

I think we will have another great buy-and-hold opportunity no later than a week to 10 days from now. We only get 2 or 3 this good per year, IMO.

Mr. Fix
Oct 19, 2012 - 3:05pm

Thanks Turd!

I love your podcasts.

Henry Frap
Oct 19, 2012 - 3:16pm

Liberty Coin Service to the rescue!

Hat's off to the kind courteous staff at Liberty Coin in Lansing MI, the place I go to shop for phyzz. The place was abuzz as usual, with people dropping off sacks of old silver coins while others were busy selling silver plated tea sets, etc., Guys like me were there to purchase stackable retirement accounts.

Thanks to the troops here at TF Metals, as I've learned so much in the last several years.


Admiral Ag Bar
Oct 19, 2012 - 3:52pm

Thanks Turd

Another great podcast!

We really are the smallest of a minority of people who can see the impending disaster while the vast majority blissfully munch on grass (and ipads). I tell ya... it is going to be bittersweet, to say the least, when this farce of a global fiat economy self-destructs. It is going to suck the worst for those family and friends who were exposed to the concepts but their strong cognitive dissonance prevented them from objectively seeing what is going to unfold.

I have stacked all the phyzz I can. The wife has reached the limits of her patience with my now 1.5 year underwater investment. These hands are strong and I am in for the long haul. However, I am now stacking cash like a madman to help make the life-altering transition from a desk jockey paper pusher to an actual producer. I have a one year plan to move a warm rural area near my wife's family and start a small home business growing organic produce and edible plants. Much to the disbelief of my friends at work, I am going to walk away from my stable good-paying job to live a much simpler and inexpensive life. In my small way, I'm going Galt. I can't wait!

Best of luck to all the Turdites in your endeavors. See you on the otherside.

Video unavailable
Oct 19, 2012 - 4:46pm

While the stackers are once again pissed, and rightfully so...

Those holding PM stocks are breathing a sigh of relief. GDX an etf for major miners actually went green with a $20 Gold raid. Most Silver stocks with a $0.72 raid didn't fair all that badly, considering. They were down, but it could have been worse on a 2.25% decline.

This all took place with a 200+ Dow drop and a 26.50 S&P drop.

Like I said in a past post, it looks like the EE can drop the price of PM's but not the price of the PM stock shares all at once. This happened today. To me it shows that they are running out of ammo. They can't do both at the same time anymore, it would appear.

The only difference between Romney and OBama is which one will go to war with Iran the fastest. The only thing that will save the Iranians is a further drastic devaluation of their currency and an overthrow of their assholic Mullahs. They have 2 to 4 weeks to do this. That's not enough time. So war, it will be.

What this Black Vulture will do to the PM markets is totally unknown, but going by today's action, gold and gold stocks should soar, while the rest of the market tanks.

Oh! Yeah! The oil market. I doubt that China would be in favor of Iran successfully closing down the Straits of Hormuz and getting cut off from their Iranian oil. There must be enormous pressure from the Chinese. On the other hand, the Russians stand to make a fortune, if the Straits are closed and the price of oil doubles in a matter of days.

I suspect that the Chinese and the West would just as soon see the end of the Iranian nuclear venture and their Mullahs as well. Heaven may have to create hundreds of new virgins to satisfy the newly created Iranian matyrs.

Henry Frap ballyale
Oct 19, 2012 - 4:51pm

< I suspect that the Chinese

< I suspect that the Chinese and the West would just as soon see the end of the Iranian nuclear venture and their Mullahs as well. Heaven may have to create hundreds of new virgins to satisfy the newly created Iranian matyrs. >

You may be on to something here, ballyale...

ballyale Henry Frap
Oct 19, 2012 - 5:10pm

I suspect that the Chinese

I wonder if the newly created virgins are of the "paper or plastic type"?

Have a great weekend contemplating that mystical wonder of the Islamic religion.

Oct 19, 2012 - 5:22pm

Nice one, Turd!

Really enjoyed that podcast. I bought the book some months back after seeing Detlev interviewed on the Keiser Report. He struck me as being a very savvy individual. I found the book somethat tough going, likely because I didn't have a clue about economics, but it really was a great read & helped me understand a lot of the fundamentals of the subject. Highly recommended!

Keep up the good work in getting first class people for the podcasts.

Oct 19, 2012 - 5:39pm

Removed comment

Removed comment.

Oct 19, 2012 - 6:01pm

Why doesn't the Fed just....

allow all of us to print our own money? After all, that would stimulate printer sales, computer sales, paper sales, printer ink sales.... I am sure I am forgeting something but the economy would be stimulated. We could save tons of tax money by transferring the cost of printing money to the private sector. I just don't get it...


EDIT: Thanks for everything Turd!

Eric Original
Oct 19, 2012 - 6:08pm

Looks like peckerwood's had a

Looks like peckerwood's had a couple of brewski's.

TGIF, Mein Freund!

Mariposa de Oro
Oct 19, 2012 - 6:51pm
Oct 19, 2012 - 7:45pm

1st impression

231 jobs .... My first impression was

Triumph of the Will - Hitler Youth Rally 2
Oct 19, 2012 - 7:57pm

Thank you Turd for another great podcast!

Can someone please explain what aggregate demand is? Thank you in advance!

Oct 19, 2012 - 8:04pm

Removed comment

Removed comment.

Oct 19, 2012 - 8:41pm

Removed comment

Removed comment.

Oct 20, 2012 - 12:51am

Thanks TF!

Day in and Day out, excellent, information.

I chuckled with the glasses comment, life is good, just not easy.

Be well, TF!

Oct 20, 2012 - 1:42am

Cock-Up or Conspiracy?

I just cannot buy in to this theory that these people just had hold of the wrong economic theory. Lots of news coming out in UK at the moment about those in positions of power and their nasty habits, exposed recently here by M&S. Please take time to listen carefully, then report back as to whether today's financial situation was innocently caused:

Oct 20, 2012 - 5:35am

Webbot Project

Possibly a little out there for some readers, I think this is worth listening to in tendem with TF's interview:!

Maybe 'cock-up or conspiracy' is too narrow a field of vision? Anyway, Clif says to keep your eye on this paedophile news breaking in UK and the financial fall-out from it, something us bloggers have been watching for some while.

thurd aye
Oct 20, 2012 - 5:58am

paper money collapse,now don't laugh

Even at 76, with untold wealth and the holder of a rare Order of Merit from the Queen, Lord Rothschild has continued to dream.

It is a father’s dream: that his only son Nat might one day lead the world’s most enduring banking dynasty to new heights, repairing an old family schism and burnishing its blue-chip image to even greater brilliance.

Today Jacob Rothschild is a bitterly disappointed, even angry man, as his son and heir fights to save his own dwindling reputation and, with it, the first soiling of the proud Rothschild name in centuries.

Read more:
Ah,shame eh?
Oct 20, 2012 - 6:21am


Aggregate Demand is a convenient argument used by government through judicially created PLENARY power to rape and butt-hurt anyone anywhere or anything, even a farmer selling just one kernel of corn, because all them kernels added up have an aggregate affect on interstate commerce. Aggregate demand is probably just what it sounds like, the total demand.

Oct 20, 2012 - 7:41am

Can't Run Podcast

Anyone else not able to play the Podcast?

Solved. Adblock Plus seems to prevent the TF Podcasts but NOT any of the imbeded videos, which seems strange and is inconvenient because I now have to disable Adblock every time I want to listen to a Podcast.

Oct 20, 2012 - 8:47am
Oct 20, 2012 - 9:04am

Thanks TF!

Great Podcast. Perfect for listening to on a slow Saturday at work.

Even got one of my my co-workers interested. (musta been the German accent).

Oct 20, 2012 - 10:47am

What a great podcast

I have put Detlev's website on my "must-read" list ever since loyal Turdite Tabberto first linked to his articles some months back- kudos to Tabberto for introducing Turdville to this top-flight intellectual. Double kudos to Turd for getting him for a podcast... a huge "get" for this site.

Two thoughts after listening: 1. my favorite quote was Detlev saying something to the effect of "hard money or gold advocates are absolutely right that gold is a monetary guarantor of personal freedom". Amen, brother.

2. I find it very hard to even comprehend the true amount of "misallocation of capital" we now have in the present system- one could argue that every single pension, government bond, and mortgage, in addition to all of the "on the books" debt carried by both public sector and private sector institutions... ALL of it represents a staggering misallocation of capital. If we think about it in this way, and if we picture what an unwind of this "faux-value" would look like in the real world, then I believe we can see clearly how something like 50k per OZ of gold could come about. Perhaps much, much more than that amount, in fact.

For God's sake, keep stacking.


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