Summary of Seven Stages Of Empire - Hidden Secrets Of Money Episode 2 - Mike Maloney

00:00:00 - 00:30:00

The video discusses the seven stages of empire, and how gold and silver have been used as currency throughout history. It argues that we are currently in stage 5 of the cycle, and that the current financial crisis in Europe is a result of the seven stages of empire. The video provides information on how to protect oneself and benefit from the empire's growth.

• 00:00:00 This program discusses the history of money and how it has been used throughout history. It discusses how gold and silver have been the predominant currencies for about five thousand years, but it wasn't until 680 BC-630 BC that they became money. This made them interchangeable and useful as a unit of account and a measurement. However, it was not until Athens became the first free-market society that money found its natural home - the free markets. Their prosperity allowed them to create great works of art and achieve a level of architecture and engineering that the world had not yet seen. 2,500 years later, people are still in awe of Athens' achievements. However, their downfall began around 260 BC when they were defeated by Sparta. This led to a period of financial crisis and poverty that lasted until the 5th century AD. After this, money gradually regained its prominence and eventually led to the development of modern banking and stock markets.
• 00:05:00 The video discusses the seven stages of empire, which are 1) good money, 2) public works, 3) debasement of currency, 4) hyper inflation, 5) financial debilitation, 6) the collapse of empire, and 7) gold delivering a knockout blow to debased currencies. It argues that this cycle is always repeated, and that we are currently in stage 5.
• 00:10:00 The video discusses seven stages of empire, beginning with economic affluence and moving on to political influence, expenditures on a massive military, stealing wealth through debasement of currency, and a loss of faith in the currency. The video then discusses how Gresham's laws work and how they can be applied to understanding monetary history. The presenter explains that, in the past, people have recognized gold and silver as having value and this has led to stable currency systems. The presenter also discusses how the current financial crisis in Europe is a result of the seven stages of empire.
• 00:15:00 The seven stages of empire outlined in the video are: 1) confidence in money created by governments printing receipts for gold, 2) World War I when currencies were unredeemable, 3) World War II when the US printed more money than gold existed, 4) the Bretton Woods system of fixed exchange rates between various currencies, 5) the debt-based global economy of the 1960s, 6) the global financial crisis of 2007-2008, and 7) the current global financial crisis.
• 00:20:00 The video discusses how the US lost 50% of its gold from 1959 to 1971, but this did not stop them from creating more dollars than there was gold. In 1971, Nixon was forced to take the US off the gold standard and this created a worldwide monetary crisis. The current world economy is based on a fiat currency system, which is a monetary system where all currencies are based on nothing but faith. This system has always been and will continue to fail, and eventually the world will move to a new monetary system.
• 00:25:00 Mike Maloney discusses the seven stages of empire, noting that sound money and public works led to Athens' prosperity but that debasement of their currency for deficit spending led to their downfall. He describes how the US Dollar Standard has changed over the years, and how we are currently in the sixth stage. He provides a glimpse into his upcoming presentation, "How The 7th Stage Will Unfold," which explains how a crisis brought on by too much debt, deficit spending, and currency debasement can be solved with more debt, deficit spending, and currency debasement.
• 00:30:00 The video discusses the seven stages of an empire, and how money plays a role in each stage. It provides information on how to protect oneself and benefit from the empire's growth.