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ANALYSIS: Will Zimbabwe Pave the Way for Gold-Backed Money?
ANALYSIS: Will Zimbabwe Pave the Way for Gold-Backed Money? People walk past the Reserve Bank of Zimbabwe building in Harare, Zimbabwe, on Feb. 25, 2019. (REUTERS/Philimon Bulawayo/File Photo) Will gold rescue Zimbabwe from the ashes of economic despair and usher in a new economic era? Since Zimbabwe declared independence from the former Republic of Rhodesia […]
Doug Casey on the Death of Privacy… and What Comes Next
Doug Casey on the Death of Privacy… and What Comes Next International Man: In practically every country, the allowable limit for cash withdrawals and transactions continues to be lowered. Further, rampant currency debasement is lowering the real value of these ridiculous limits. Why are governments so intent on phasing out cash? What is really behind this […]
A Pyrrhic End to 130 Years of Vicious Bad Money and Banking Crises
A Pyrrhic End to 130 Years of Vicious Bad Money and Banking CrisesThe original vicious circle starts with inflationary interventions in an up-to-then well-anchored monetary regime. Consequent asset inflation spawns a banking crisis. That leads to the installation of anticrisis safety structures (one illustration is a novel or enhanced lender of last resort). Alongside a […]
The schizophrenic understanding of money in economics
The schizophrenic understanding of money in economics One of the great ironies of economics is that, while the public regards economists as experts on money, the issue of how money is created is still not settled within economics. In 2014, the Bank of England published a landmark paper explicitly rejecting the textbook model of money […]
The Fed Proposes a 4th Function of Money: Means of Social Control
The Fed Proposes a 4th Function of Money: Means of Social Control A Federal Reserve white paper has come up with a new function for money. Let’s tune in. Image from Federal Reserve website. Docket No. OP – 1670 Please consider Docket No. OP – 1670 on Interbank Settlement of Faster Payments. The Federal Reserve Board announced that […]
#246: The Surplus Energy Economy, part 1
#246: The Surplus Energy Economy, part 1 FROM FIRST PRINCIPLES Introduction We have reached a turning-point at which economics and the economy have parted company. Orthodox economics continues to promise growth in perpetuity, but the economy itself is going in the opposite direction. The explanation for this is simple. Conventional economics assumes that the economy is […]
Gold’s return as money
Gold’s return as money The consequences of Russia and her Asian allies embracing gold backing for their currencies are poorly understood in western capital markets. This move could lead to the destruction of the global fiat currency system. According to evidence which is widely ignored in western capital markets, a move by Russia to put […]
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 […]
Hyperinflationary Hell: Lebanese Central Bank Devalues ‘Lira’ By 90%
Hyperinflationary Hell: Lebanese Central Bank Devalues ‘Lira’ By 90% Cash is now king in Lebanon, where a three-year economic meltdown has led the country’s once-lauded financial sector to atrophy and turned the country into a Venezuelan-esque hyperinflationary hell. The country has been hit hard by events over the past few years, starting with COVID. In […]
Here’s How “Prosperity” Ends: Global Bubbles Are Popping
Here’s How “Prosperity” Ends: Global Bubbles Are Popping So here we are: the global credit-asset bubbles are popping, and the illusory “prosperity” generated by the bubbles is about to tumble off a cliff. There are two kinds of prosperity, one fake, one real. Bogus “prosperity” depends on credit-asset bubbles inflating, magically creating “wealth” not from labor, […]
The evolution of credit and debt in 2023
The evolution of credit and debt in 2023 The evidence strongly suggests that a combined interest rate, economic and currency crisis for the US and its western alliance will continue in 2023. This article focuses on credit, its constraints, and why quantitative easing has already crowded out private sector activity. Adjusting M2 money supply for […]
The “Barbarous Relic” Helped Enable a World More Civilized than Today’s
The “Barbarous Relic” Helped Enable a World More Civilized than Today’s One of history’s greatest ironies is that gold detractors refer to the metal as the barbarous relic. In fact, the abandonment of gold has put civilization as we know it at risk of extinction. The gold coin standard that had served Western economies so […]
#238. Money and the end of abundance
#238. Money and the end of abundance A FINANCIAL CRISIS PRIMER Amongst the world’s decision-makers, French president Emmanuel Macron has come closer than anyone to spelling out the reality of the current economic situation, saying that “we are in the process of living through a tipping point or great upheaval”, and referencing “the end of abundance” (my emphasis). […]
The Most Valuable Form of Money Nobody’s Seen–Yet
The Most Valuable Form of Money Nobody’s Seen–Yet What is “money”? “Money” is a claim on the essentials of life. Ration cards are claims on essentials. Many people expect “money” will soon be tied to commodities. Agreed. It’s called a ration card that grants the holder the right to buy a specific quantity of essential goods at […]
