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Tag Archives: fiat currency
Today’s Contemplation: Collapse Cometh XI–Fiat Currency, Infinite Growth, Finite Resources: A Recipe For Collapse
Today’s Contemplation: Collapse Cometh XI Knossos, Crete (1993) Photo by author Fiat Currency, Infinite Growth, Finite Resources: A Recipe For Collapse Yet another in an increasing collection of comments I have posted to the online media site The Tyee. This time it is a commentary on an article that reviews a book arguing in favour of […]
Today’s Contemplation: Collapse Cometh IV–Fiat Currency: Debasement and Infinite Growth
Today’s Contemplation: Collapse Cometh IV Tulum, Mexico (1986) Photo by author Fiat Currency: Debasement and Infinite Growth Sep 24, 2020 My comment on an article in The Tyee about our federal government’s latest throne speech by Prime Minister Justin Trudeau (https://thetyee.ca/Analysis/2020/09/24/Throne-Speech-Stew/). _____ The idea that a sovereign nation can never run into trouble financially because […]
Today’s Contemplation: Collapse Cometh II; Feeding the Growth Monster: Fiat Currency and Technology
Today’s Contemplation: Collapse Cometh II August 8, 2020 Monte Alban, Mexico (1988) Photo by author. Feeding the Growth Monster: Fiat Currency and Technology My response to an ongoing discussion regarding debt-/credit-based fiat currency and it’s impact on our pursuing the infinite growth chalice. _____ Yes, credit-/debt-based fiat is certainly one of the most significant causes […]
The Hard Asset Inflation / Paper Asset Deflation Theory
The Hard Asset Inflation / Paper Asset Deflation Theory All fiat currencies are no more than floating abstractions of value. Society has put its faith in fiat currency issued by governments. These government-issued currencies are not backed by a physical commodity, such as gold or silver, but rather by the promises from the government that […]
The Coming Collapse of the Global Ponzi Scheme
The Coming Collapse of the Global Ponzi Scheme It won’t be long before governments around the world, including the one in Washington, self-destruct. Strong words, but anything less would be naïve. As economist Herbert Stein once said, “If something cannot go on forever, it has a tendency to stop.” Case in point: fiat money political regimes. Interventionist […]
The bell tolls for fiat
The bell tolls for fiat The importance of Russia’s announcement that a new gold-backed trade currency is on the BRICS meeting agenda for August 22—24 in Johannesburg seems to have gone completely over everyone’s heads, with mainstream media not even reporting it. This is a mistake. China and Russia know that if they are to […]
What If There Are No Solutions?
What If There Are No Solutions? The unencumbered realist concludes that there are no solutions within a status quo structure that is itself the problem. Realists who question received wisdom and conclude the status quo is untenable are quickly labeled pessimists because the zeitgeist expects a solution is always at hand–preferably a technocratic one that requires zero […]
A tale of two worlds
A tale of two worlds In the war between the western alliance and the Asian axis, the media focus is on the Ukrainian battlefield. The real war is in currencies, with Russia capable of destroying the dollar. So far, Putin’s actions have been relatively passive. But already, both Russia and China have accumulated enough gold […]
Zoltan Pozsar’s Gold-mageddon Deconstructed
Zoltan Pozsar’s Gold-mageddon Deconstructed “[B]anks have been managing their paper gold books with one assumption, which is that [Nation] states would ensure gold wouldn’t come back as a settlement medium.” -Zoltan Pozsar Before we go any further, we read ZeroHedge’s report on this letter Dec 7th entitled: Zoltan Pozsar: Gold To Soar…When Putin Unveils Petrogold (ZH Prem) and […]
Nigeria Limits ATM Withdrawals To $45 Per Day To Force Govt-Controlled Digital Payments
Nigeria Limits ATM Withdrawals To $45 Per Day To Force Govt-Controlled Digital Payments A staggering number of Nigerians love Bitcoin, but hate government cryptocurrency (CBDCs). In April, leading cryptocurrency exchange KuCoin noted that 35% of the adult population in Nigeria – roughly 34 million adults aged 18-60, own bitcoin or other cryptocurrencies. But when it came to the country’s Central Bank Digital Currency […]
The macroeconomics of bank-created money and a Modern Debt Jubilee as a way out of the private debt trap
The macroeconomics of bank-created money and a Modern Debt Jubilee as a way out of the private debt trap My friend Dr. Sabri Oncu has established an innovative seminar program at Kadir Has University in Turkey. Called the “Kadir Has Lectures on Global Political Economy”, it has had lectures from a number of non-mainstream economists, […]
