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Paper money eventually returns to its intrinsic value – zero
Paper money eventually returns to its intrinsic value – zero In socialist Venezuela, the price of a cup of coffee has doubled every few weeks. The annual inflation rate could hit 1,000,000 percent by years end. People can no longer afford food, but that’s okay because there isn’t any food to be found. South America’s […]
As Emerging Market Currencies Collapse, Gold is being Mobilized
As Emerging Market Currencies Collapse, Gold is being Mobilized In recent weeks, global financial markets have been increasingly spooked by an intensifying crisis in emerging market currencies including those of Turkey and Argentina. Add to this the ongoing currency crisis in Venezuela and the currency problems of Iran. While all of these countries have economy […]
Friedman On Inflation, Hanke on Hyperinflation
Friedman On Inflation, Hanke on Hyperinflation In 1966, Milton Friedman wrote, as he often did, some memorable lines that have entered the lexicon of economic quotables. As Friedman correctly put it in a book chapter titled “What Price Guideposts?”: “Inflation is always and everywhere a monetary phenomenon, resulting from and accompanied by a rise in […]
Economic Doom Returns: Emerging Market Currencies Collapse To Record Lows As Global Financial Chaos Accelerates
Economic Doom Returns: Emerging Market Currencies Collapse To Record Lows As Global Financial Chaos Accelerates After a little bit of a lull, the international currency crisis is back with a vengeance. Currencies are collapsing in Argentina, Brazil, India, Turkey and other emerging markets, and central banks are springing into action. It is being hoped that […]
“What A Disaster”: Chaos Returns To Venezuela One Day After Massive Devaluation
“What A Disaster”: Chaos Returns To Venezuela One Day After Massive Devaluation Just one day after Venezuela’s historic currency devaluation, which lopped off 5 zeros from the currency and prices while bizarrely pegging the “sovereign Bolivar” – the country’s latest currency incarnation – to the petro, an oil-backed cryptocurrency (which has been banned by the […]
Over The Last 7 Days Our Planet Has Been Violently Shaken By 144 Major Earthquakes
Over The Last 7 Days Our Planet Has Been Violently Shaken By 144 Major Earthquakes Within the past few days, we have seen an enormous magnitude 7.3 earthquake hit Venezuela and a giant magnitude 8.2 earthquake hit Fiji. Where will the next one strike? To many of us, it is becoming exceedingly clear that something […]
The Engineered Collapse of Venezuela Was the Beginning of a War on the Free World
The Engineered Collapse of Venezuela Was the Beginning of a War on the Free World I have a certain degree of acceptance for some things. However, these last two weeks my ability to be surprised has been superseded. The price increase in everything and the difference between the salaries in Venezuela is something unbelievable. How […]
Venezuela In Chaos After Maduro Announces Massive 95% Devaluation, New FX Rate Tied To Cryptocurrency
Venezuela In Chaos After Maduro Announces Massive 95% Devaluation, New FX Rate Tied To Cryptocurrency Chaos and confusion erupted across Venezuela, and most stores were shuttered on Saturday, after president Nicolas Maduro announced that the government would enact a massive currency devaluation, implement a new minimum wage, hike taxes, and also raise gasoline prices for […]
We Are All Lab Rats In The Largest-Ever Monetary Experiment In Human History
We Are All Lab Rats In The Largest-Ever Monetary Experiment In Human History And how do things usually work out for the rat? There are ample warning signs that another serious financial crisis is on the way. These warning signs are being soundly ignored by the majority, though. Perhaps understandably so. After 10 years of […]
Five examples that show internet censorship is as much a threat to the left as the right
Five examples that show internet censorship is as much a threat to the left as the right © Kacper Pempel / Reuters The banning of right wing controversialist Alex Jones from multiple social media platforms last week was a cause of celebration for many liberals, but should those on the left really be so complacent […]
Hyperinflation Has Destroyed Venezuela
Hyperinflation Has Destroyed Venezuela Has coffee become an unattainable luxury? It is if you live in Venezuela’s capital of Caracas. In July, the price of a cup of coffee was 2 million bolivars. In a country where the minimum wage has been raised to 3 million bolivars, coffee has become as unaffordable as food, housing, […]
That Escalated Quickly: The Emerging Market Currency Crisis Of 2018 Threatens To Destabilize The Entire Global Financial System
That Escalated Quickly: The Emerging Market Currency Crisis Of 2018 Threatens To Destabilize The Entire Global Financial System We haven’t seen emerging market currencies crash like this in over a decade, and analysts are warning that if this continues we could witness a devastating global debt crisis. Over the past decade, there has been an […]
How A Central Bank Caused One of History’s Biggest Cons
How A Central Bank Caused One of History’s Biggest Cons In the summer of 1821, a roguish Scotsman named Gregor MacGregor arrived by boat in London, and initiated arguably the most audacious confidence scam in history. MacGregor had spent much of the previous decade fighting as a soldier of fortune in the Venezuelan War of […]
What Life Is Like for Venezuelan Refugees: The Crisis Isn’t Over When You Escape the Collapse
What Life Is Like for Venezuelan Refugees: The Crisis Isn’t Over When You Escape the Collapse I find the most difficult aspect of survival is to keep a positive mindset. Definitely, it is. The crisis is not over when you escape the collapse. While I expected when I got my family out, our struggles were […]
Military Seizes Control Of Water Supplies As Venezuelan Infrastructure Collapses
Military Seizes Control Of Water Supplies As Venezuelan Infrastructure Collapses If there’s one group that has benefited from Venezuela’s economic collapse, it’s the country’s military, which has been handed control over much of the country’s remaining industry as the collapse has intensified. Venezuela’s army, about 160,000 strong, controls the mineral-rich Arco Minero del Orinoco, and […]
