Andrew Gause is one of the most respected monetary historians and contemporary experts on the American and international banking systems. He discussed the history of money, a chronicle of the banking system in the United States, the growing national debt, and fascinating inside information on some of the world’s largest monetary organizations. He declared that gold and other precious metals should always be just 10% of an investment portfolio. Gause doesn't consider himself an economist, but a man who has carefully studied the monetary history of the United States from the beginning of the republic.
They discussed the debt ceiling and defaulting on the debt. Gause says that it would create a loss of sovereignty. If the federal government defaulted on the treasury obligations, it would be foreclosed upon and the market would slam shut. Callers bought up such topics as 401k plans, the Federal Reserve, bonds, collectible coins, and more.
The last two hours were taken up with Open Lines.