On this episode of Minor Issues, Mark Thornton replays two short interviews: one recorded with Daniela Cambone weeks before the outbreak of war in the Middle East, and another with Dunagun Kaiser recorded days ago as the conflict escalates. Mark breaks down why precious metals are unusually volatile, how war and interventionism collide with inflationary fiat regimes, and why rising interest rates and commodity prices point to a more dangerous long-run trend. He also connects the dots between the Fed’s “liquidity” talk, a deeper leverage problem in finance, and the way wars can be used to divert attention from economic failures at home.

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On the latest episode of Minor Issues, Mark Thornton tackles the “Austrians don’t care about the poor” smear, arguing that Austrian monetary theory is designed to explain how political elites rig the system against working people. From Cantillon’s original gold mine thought experiment to today’s Fed-driven credit expansion, Mark explains how cheap money concentrates wealth and fuels the “K-shaped” economy, while a market-based monetary system would sharply limit this dynamic and restore more durable wage growth and stability.

"Share of Net Worth Held by the Top 1%" (Federal Reserve Bank of St. Louis): https://mises.org/MI_168_Graph

"Monetary Metals 101: How Gold and Silver Work in a Free Market" (Minor Issues, Episode 141) https://mises.org/MI_141

"The K-Shaped Economy" (Minor Issues, Episode 150): https://mises.org/MI_151

"Past Tense" (Minor Issues, Episode 83): https://mises.org/MI_83

"The Fed vs. the Real Economy" (Minor Issues, Episode 58): https://mises.org/MI_58

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On the latest episode of Minor Issues, Mark Thornton appears on Arcadia Economics with Chris Marcus during a volatile week for gold and silver amid the escalation with Iran. They unpack the risks and “unintended consequences” of the conflict, along with what all of this means for markets, the dollar, and investor psychology. Mark closes with a hard look at the Fed-fueled, fifteen-year bubble of credit and debt, the growing stress in sovereign debt markets, and why central bankers can’t “magic away” the structural problems that created this mess.

The original episode is available at https://www.youtube.com/watch?v=MQn1GenrMyQ

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Purchase a Minor Issues tumbler today! https://mises.org/MinorIssuesTumbler

Be sure to follow Minor Issues at https://Mises.org/MinorIssues