Breaking the Dollar

Everett Millman

Breaking the Dollar is a podcast that uses fascinating stories and real-life examples to reveal valuable insights about gold and silver, investing, financial markets, bullion coins, and trends in our monetary system. Precious metals expert Everett Millman shares his unique perspective from nearly a decade of first-hand experience working in the industry. Money is an ever-present part of our lives, but its ubiquity doesn’t make it any easier to understand! There are many fundamental questions about money we tend to take for granted: What gives money value? What kinds of things have been used as money historically? Are gold, silver, and precious metals still considered money? Will cryptocurrencies like Bitcoin revolutionize the way money works? Find all of these answers on Breaking the Dollar -- and have some fun along the way! read less

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Costco Is Selling Gold Bars, Here’s Why

Costco Is Selling Gold Bars, Here’s Why

The news media has been covering the story that the wholesale store Costco has been selling one-ounce gold bars. Although it's obviously a strange story, these news articles have missed some of the major points about the story. In this episode, Everett recaps what's going on with the Costco gold bars and sets the record straight about what everyone else is overlooking about this odd story.

Episodes

Costco Is Selling Gold Bars, Here’s Why

Costco Is Selling Gold Bars, Here’s Why

The news media has been covering the story that the wholesale store Costco has been selling one-ounce gold bars. Although it's obviously a strange story, these news articles have missed some of the major points about the story. In this episode, Everett recaps what's going on with the Costco gold bars and sets the record straight about what everyone else is overlooking about this odd story.

CBDCs: The Risks and Benefits of Central Bank Digital Currencies

CBDCs: The Risks and Benefits of Central Bank Digital Currencies

What exactly is a CBDC? In this episode Everett breaks down the emerging technology of central bank digital currencies. He discusses the latest developments in the space, how CBDCs work, and -- most importantly -- the conversations that the public needs to have in order to best manage the cool benefits and grave risks of government-issued digital currencies. He also responds to a question from the audience about a rare Lincoln cent error.

We’re Back! Bullion Market Recap

We’re Back! Bullion Market Recap

This episode marks the triumphant return of Breaking the Dollar after a long hiatus. Host Everett Millman recaps the many developments in his career since the podcast last aired. He also gives a firsthand account of what has been going on in the gold and silver bullion market over the past few years to provide insight into how the industry has dramatically changed over that time.

Who Owned the Most Gold In History?

Who Owned the Most Gold In History?

In this episode of Breaking the Dollar, Everett examines a fascinating historical anecdote about Mansa Musa, the king of the Mali Empire in West Africa during the late-13th and early-14th centuries. Was he really the richest man of his time? How much gold did Musa have? The story also brings up interesting points about the economics of gold as money.

Wall St Gone Wild! (Part II)

Wall St Gone Wild! (Part II)

This episode picks up on the previous discussion of moral hazard, fraud, and accounting shenanigans on Wall St. Everett challenges the notion that small speculators and Robinhood traders are the cause of the problem. He wraps up by catching up on some questions from the audience.

Wall St Gone Wild! (Part I)

Wall St Gone Wild! (Part I)

A lot of outlandish frauds and comical ethical conundrums have been cropping up in the financial markets of late. Perhaps more concerning, this type of behavior on Wall St is becoming normalized -- especially with everyone distracted by covid-19. In this two-part episode, Everett walks through several of the most prominent cases of companies "gone wild" on Wall St in 2020. He explains how these unethical acts are interconnected with several economic issues that have been discussed on Breaking the Dollar in the past.

The Great Coin Shortage of 2020

The Great Coin Shortage of 2020

One of the unexpected side effects of the coronavirus pandemic has been a lack of coins circulating around the economy. Pocket change is at a premium as many businesses remain closed and the United States Mint operates at limited capacity. This development lends itself to a related discussion: the long-overdue elimination of the one-cent coin, which loses tens of millions of dollars for the Treasury each year, and the broader "war on cash."

Someone Found the Million-Dollar Forrest Fenn Treasure!

Someone Found the Million-Dollar Forrest Fenn Treasure!

For a decade, treasure hunters have been scouring the Rocky Mountains to find a chest full of gold and gemstones hidden there by an art dealer named Forrest Fenn. The treasure was finally discovered last month -- but only after many years of controversy. Find out more about the backstory of Fenn's treasure and why it stirred so much dissension in the local press.

Is Gold Confiscation Really Coming?

Is Gold Confiscation Really Coming?

A prominent European hedge fund manager recently predicted that governments will soon seize their citizens' privately held gold in order to stave off a financial collapse. Is gold confiscation really going to happen again, like it did in 1933? Everett confronts this ever-present bogeyman and what it can teach us about the nature of how the government controls its currency.

Oil Price War: Crude Oil Goes Negative

Oil Price War: Crude Oil Goes Negative

Why on earth did the WTI crude oil contract price go deeply negative for one day in April? What does a negative oil price even mean? In this podcast episode, Everett explains what unusual dynamics in financial markets caused futures prices to trade in negative territory. He also provides some context about the tug-of-war between Russia, Saudi Arabia, and the United States over the oil market in general.

In the Fed We Trust!

In the Fed We Trust!

What will the Federal Reserve buy next? The central bank has been on a shopping spree of sorts in its effort to rescue the financial system. What exactly is the Fed buying? How does this raft of stimulus measures compare to the Fed's response to past crises? What are the implications for markets?

Market Update: COVID-19 Shuts Down the Economy

Market Update: COVID-19 Shuts Down the Economy

The economic freeze due to the coronavirus has dramatically impacted financial markets. Everett explains how the pandemic has affected the gold industry.

The Half Union: The $50 Gold Coin You’ve Never Heard Of

The Half Union: The $50 Gold Coin You’ve Never Heard Of

Sometimes historical circumstances lead to unconventional proposals. Such is the case of a U.S. $50 gold coin known as a half union. Its story is filled with bureaucratic intrigue and economic transformation. Everett walks through the history of the half union and why it never gained approval for regular production.

Why the 2020 Election Matters for the Economy

Why the 2020 Election Matters for the Economy

The 2020 presidential election has been heating up as we approach Super Tuesday. While it's important to put your political biases aside when investing, that doesn't mean you shouldn't pay attention to the campaigns for president and the race for the White House. This episode focuses on some of the election dynamics and possibilities that will impact the economy (and your investment portfolio).

The Coronavirus and How It Has Impacted Markets

The Coronavirus and How It Has Impacted Markets

There has been a great deal of news coverage of the coronavirus that originated in the Wuhan province of China. The virus's impact on markets has thus far been minimal, but Everett explains some of the risks it still poses for the global economy. From generating worldwide uncertainty to possibly upending Phase 1 of the trade deal, the affect on the financial sector is unlikely to be clear for weeks and months to come.

ZIRP and NIRP: Zombie Machines

ZIRP and NIRP: Zombie Machines

The monetary experiments with zero interest rate policy (ZIRP) and negative interest rate policy (NIRP) continue to be overlooked as the "new normal." What are the intended—and unitended—outcomes of these unprecedented policies? In this episode, Everett summarizes the economic risks associated with persistently low and negative rates. He also examines the argument that paying negative interest is not an unusual idea or practice.

Forgotten Platinum Group Metals: Rhodium and Palladium

Forgotten Platinum Group Metals: Rhodium and Palladium

For the first time in nearly a decade, these close cousins of gold and silver have been in the news. Why are palladium and rhodium seeing their prices skyrocket? Podcast host Everett Millman explains how the industrial market for the Platinum Group Metals differs from the more familiar precious metals. He also cites historical context to illustrate their price volatility.

Monthly Market Commentary: January 2020

Monthly Market Commentary: January 2020

2020 is off to an eventful start for financial markets. What are the major trends that investors should be paying attention to? This episode gives a general overview of what's been going on in January and what to expect during the first quarter of the year.

How the U.S. Dollar Became the Global Reserve Currency

How the U.S. Dollar Became the Global Reserve Currency

One of the defining features of the global economy and financial system is the central role of the U.S. dollar. This is perhaps obvious, but it is of tremendous importance nonetheless. However, it was not a foregone conclusion that the USD would come to occupy this place. How did it happen? In this episode, Everett gives a broad overview of the events, trends, and circumstances that led to the dominance of King Dollar.

The Durable Ethics Behind The Gold Standard

The Durable Ethics Behind The Gold Standard

There are many unavoidable realities that tie together gold, money, and the banking system. These connections are still in effect despite the end of an official gold standard. In this episode, Everett surveys some of the remnants of the gold standard and the Bretton Woods system and how they apply today.