Joe Rogan and Dave Smith discuss 'hyper-inflation' and 'fractional reserve banking' during JRE podcast
AUSTIN, TEXAS: Joe Rogan, podcaster and UFC commentator, hosted comedian Dave Smith during JRE episode #2067 where they discussed "hyper-inflation" and "fractional reserve banking."
As the 'JRE' podcast continues to grow in value and popularity, Rogan has established a reputation for his candid conversations about a wide range of interesting topics.
In his podcast, Rogan has talked about aliens, bear attacks, and crossbows. These unusual subject matters has helped the podcast become well-known. But on a recent podcast episode, Rogan's usually light fare took a more serious turn.
Joe Rogan and Dave Smith's discuss 'hyper-inflation'
During the podcast, Dave Smith said, "If you look at the list of the richest counties, the vast majorities of them are right outside Washington DC and right outside New York City. So what is that? Is that capitalism? There are more millionaires there than any other part of the world."
He further explains that it is because the federal government spends over $6 trillion a year and it goes to all the people who are connected to the government.
"They are extracting wealth from the rest of the people," he added.
Joe Rogan said, "It's a s**t system that you can never beat. The stock market is such a wild idea. It is based on confidence and you bet on companies and some people just play that game."
Internet reacts to 'JRE' podcast episode
Many people on YouTube dropped their comments on the video. A user wrote, "I talked to my coworkers a month ago, bringing up almost every point Dave brought up + how income tax was introduced. People looked at me on the call like I was speaking Swahili... I think the financial system is so unbelievably corrupted people simply don't believe it when you tell them. They think you don't know what you're talking about, it's extremely frustrating."
Another person said, "Tried to explain this to someone one time and we nearly came to blows. In a cash-only society if I have 1000 in my pocket I can buy with the confidence of that 1000 behind me. i.e spending 100 not worrying about it."
A user also added, "I wish Dave Smith would make a book explaining things so everyone could understand. I would immediately buy that book."
Another said, "Dave Smith episodes are the best. It always seems the most level-headed individuals with collective interest in mind, would never become politicians."
Another person said, "Dave Smith is has [hands] down one of Joe Rogan’s best guest. So informative."