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Revealing History

COMMENT: I find it interesting how two people the general consensus has said were scoundrels, John Law and Julius Caesar, you have shown were actually people against the establishment. I read your Anatomy of a Debt Crisis and you have put together the contemporary historians where everyone else just seems to rely on the fake news of the day.

Thank you for digging up the facts.

HY

REPLY: When I was in high school, I had to read Galbraith’s “Great Crash.” Nowhere in his book did he ever mention defaults on national debts by any country. When I came across Herbert Hoover’s memoirs in an old book store in London, this was probably the second thing that changed my life, with the first being the movie  “The Toast of New York” about the Panic of 1869 when gold hit $162.50, which I had to watch in history class. I learned not to trust the history books, and the best way to find out the truth was always to return to the contemporary reports of history and/or the newspapers of the time.

The coinage has been a major factor in identifying the history and accurately dating events. Here is an extremely rare coin of Julius Caesar. Note that there is no portrait of him. He is announcing his victory in Gaul. His Gallic campaign was initially a piecemeal affair, but within six years, he had expanded Roman rule over the whole of Gaul. Following years of relative success, mainly thanks to the disconnected nature of the tribes allowing him to take them on separately (divide and conquer), Caesar was faced with the chief of the Arverni tribe, Vercingetorix, who too late had built a confederation to stand against Caesar. In 52 BC, despite formidable resistance, Caesar finally defeated Vercingetorix at the Battle (or Siege) of Alesia…

…click on the above link to read the rest of the article…

martin armstrong, armstrong economics, history, julius ceasar, rome, roman empire, war, conquest, coinage, fake news,

Behind Theresa May’s ‘Humanitarian Hysterics’: The Ideology of Empire and Conquest

Behind Theresa May’s ‘Humanitarian Hysterics’: The Ideology of Empire and Conquest

Photo by EU2017EE Estonian Presidency | CC BY 2.0

Until the 17th century, India was the richest country in the world and had controlled a third of global wealth. Political unity and military security helped evolve a uniform economic system, increased trade and enhanced agricultural productivity. Once the British has colonised India and left, it was a basket case.

Indian politician and writer Shashi Kapoor has documented the state the British left India in. They looted the country and the British legacy was 16 per cent literacy, a life expectancy of 27, practically no domestic industry and over 90 per cent living below the poverty line.

Once Britain lost its empire, it managed to secure a degree of global influence by throwing in its lot with the US as a junior partner in Washington’s quest for global hegemony. And if the 21st century tells us anything so far, it is that the centuries’ old colonialist mentality of the British state has not gone away: the mindset of Empire, conquest and duplicity persists.

In 2015, the then UK prime minister David Cameron said he felt deeply moved by the image of a Syrian boy dead on a Turkish beach. As pressure mounted on the UK to take in more of those fleeing to Europe from Syria and other war zones, Cameron added that the UK would fulfil its “moral responsibilities.”

On hearing Cameron’s words about ‘morality’, how many would not have failed to detect the hypocrisy? According to former French foreign minister Roland Dumas, Britain had planned covert action in Syria as early as 2009. And writing in The Guardian in 2013, Nafeez Ahmed discussed leaked emails from the private intelligence firm Stratfor, including notes from a meeting with Pentagon officials, that confirmed US-UK training of Syrian opposition forces since 2011 aimed at eliciting “collapse” of Assad’s regime “from within.”

…click on the above link to read the rest of the article…

Why Do We Let Other People Tell Us What to Do?

Why Do We Let Other People Tell Us What to Do?

Lame Theories of Government

We have been disappointed with political ideas and theories of government. They are nothing but scams, justifications, and puffery. One tries to put something over on the common man… the other claims it was for his own good… and the third pretends that he’d be lost without it.

Most are not really “theories” at all… but prescriptions, blueprints for creating the kind of government the “theorist” would like to have. Not surprisingly, it is a blueprint that flatters his intellect and engages his imagination.

government needA protection racket based on circular reasoning

But it does not answer the critical questions: Why do we let other people tell us what to do; are we not all equal? What is the purpose of government? What does it cost, and what benefits does it confer? You may find these questions have drifted far afield from our usual fare. But they’ve been on our mind.

We’re coming up on a major election in the U.S. Several men have come forward offering to take charge of the U.S. government. Maybe it would be worth wondering what it is that they are taking charge of. And since our daily letter is free, we feel entitled to write whatever we damned well please.

Government is a fact. It exists. It is as common as stomach gas. It is as ubiquitous as lice and as inescapable as vanity. But what is it? Why is it? And what has it become?

Born in Conquest

We know very little about the actual origins of government. All we know – and this from the archaeological records – is that one group often conquered another. There are skeletons more than 100,000 years old, showing the kind of head wounds that you get from fighting. We presume this meant that “government” changed. Whoever had been in charge was chased out or murdered. Then, someone else was in charge.

barbariansBarbarians carefully deliberating post-conquest policies

…click on the above link to read the rest of the article…

Why Governments Love Terrorism “Wars”

Why Governments Love Terrorism “Wars”

Telltale Signs

Dow down a little on Tuesday. Gold almost unchanged. Oil kept slipping.

From Bloomberg:

“Oil fell below $45 a barrel amid speculation that US stockpiles will increase, exacerbating a global supply glut that’s driven prices to the lowest in more than 5½ years.

Oil slumped almost 50% last year, the most since the 2008 financial crisis, as the US pumped at the fastest rate in more than three decades and OPEC resisted calls to cut production.

Goldman Sachs said crude needs to drop to $40 a barrel to “re-balance” the market, while Societe Generale also reduced its price forecasts.”

We’re studying the drop in the oil price. Is it an isolated phenomenon – the product of fracking technology, petro politics and other special circumstances? Or is it, too, a feature of the worldwide credit bubble?

We will write up our conclusion in this month’s Bill Bonner Letter. But you can probably guess. The more we look, the more we find telltale signs of the credit bubble at every accident and crime scene.

Through a Glass, Darkly

Tomorrow, we’ll start a new series on practical investing. Today, let’s look further at how the global credit bubble has distorted investment markets, perverted the economy and corrupted our government. They all now depend on something that should never have happened… and can’t continue for much longer.

Hardly a day goes by that we don’t squint through a glass, darkly, to try to see what the end of the credit expansion will mean for stocks, bonds and other asset classes. Today, we look at what it will mean for the US Empire of Debt.

Typically, empires succeed by conquest. They take property… women… slaves. The loot is then parceled out like a federal budget – with big portions for the honchos and cronies… and lesser portions to the foot soldiers.

…click on the above link to read the rest of the article…

 

Olduvai IV: Courage
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Olduvai II: Exodus
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