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America's Monetary Dictator: How Paul Volcker Saved an Empire
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When empires face their greatest test, they need leaders willing to be hated for doing what's right.
In 1979, America stood at the crossroads every dying empire faces: destroy the economy to save the currency, or destroy the currency to save the economy. Nixon had already chosen poorly in 1971. By 1979, 13% inflation was bleeding American credibility worldwide.
Enter Paul Volcker—6'7" of unelected, unaccountable monetary discipline.
In this episode, we explore how one man's willingness to inflict maximum pain on the present preserved the American empire for another generation. From Carter's "malaise" to the Saturday Night Massacre that sent Fed funds to 20%, this is the story of leadership when democracy fails.
What You'll Learn:
- Why Nixon really closed the gold window (hint: Vietnam + welfare state)
- How Volcker became America's monetary dictator—and why it worked
- The ancient Roman concept of emergency leadership that saved republics
- The "Volcker Test" for your investment portfolio
- Why we probably won't get another Volcker (and what that means for your wealth)
From wooden planks mailed in protest to the longest peacetime expansion in history—this is empire preservation in real time.
Perfect for: Real estate investors, students of monetary history, and anyone wondering if democracies can still make hard choices.
Key Question: Do empires need philosopher-kings to survive? And what happens when they can't find them?
Resources Mentioned:
- Charles de Gaulle's "exorbitant privilege" critique
- Carter's July 1979 "malaise" speech
- Vietnam War financing and the gold standard
- Roman concept of emergency dictators
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"Sometimes you have to destroy the village to save it."
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