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The Dollar Is ‘Unhinged Paper Currency’, But We Can Still Save It | Arthur Laffer & Michelle Makori
Description
Michelle Makori, President & Editor-in-Chief, Miles Franklin Media, sits down with Dr. Arthur Laffer, Founder & Chairman of Laffer Associates and former economic advisor to Presidents Ronald Reagan and Donald Trump, to discuss the future of the U.S. dollar, sound money, gold, and the Federal Reserve.
Laffer – the economist behind the iconic Laffer Curve – warns that the dollar has become an “unhinged paper currency” and explains why fiat money systems always fail without discipline. He walks through the history of U.S. monetary policy, the consequences of abandoning gold, and why controlling interest rates is the wrong tool for fighting inflation.
This conversation also explores whether the U.S. can restore credibility to the dollar, the role of gold and stablecoins in a changing monetary world, and whether democracy itself can sustain sound money in an era of debt, deficits, and fiscal dominance.
In this episode of The Real Story:
- Why unhinged paper currencies never work
- How the Fed lost control of the dollar
- Sound money vs. rate manipulation
- Gold’s return to the global monetary system
- Crypto, stablecoins, and private money
- Can the dollar still be saved?
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Follow Dr. Arthur Laffer on X: https://x.com/realartlaffer
Follow The Laffer Center on X: https://x.com/LafferCenter
00:00 Coming Up
01:59 Introduction
03:57 Core Principles of Good Economic Policy
05:41 The Importance of Sound Money
06:58 Historical Perspective on US Monetary Policy
12:23 The Rise of Cryptocurrencies & Private Money
18:10 The Role of Gold in the Global Monetary System
43:33 Bretton Woods & the Future of the Dollar
46:21 Gold & the Dollar: A Complex Relationship
49:24 The Role of Democracy in Economic Policy
59:57 The Case for a Gold-Backed Treasury Bond
01:11:43 Private Sector vs. Government in Economic Decisions
01:13:16 Art Laffer's Optimism & Final Thoughts
01:23:48 Closing Remarks and Subscriber Giveaway
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🏦 About Miles Franklin
Miles Franklin is a trusted leader in wealth preservation, with over $11 billion in precious metals sales since 1989. Specializing in gold and silver, we help clients safeguard their wealth with real assets