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The Ins and Outs of Whose Money is it Anyway?
The Ins and Outs of Whose Money is it Anyway? “Inside, Outside…. Leave me alone! Inside, Outside … Nowhere is home! Inside, Outside … Where have I been? Out of my brain on the 5:15…” — The Who There’s been a massive reaction to Credit Suisse analyst Zoltan Poszar’s note about the birth of a new Bretton Woods […]
Ending Fiat Money Won’t Destroy the State
Ending Fiat Money Won’t Destroy the State A certain meme has become popular among advocates of both gold and cryptocurrencies. This is the “Fix the money, fix the world” meme. This slogan is based on the idea that by switching to some commodity money—be it crypto or metal—and abandoning fiat currency, the world will improve […]
Why We Need a Free Market in Money
WHY WE NEED A FREE MARKET IN MONEY What is fiat money and what does it do? This is essential to understand since today’s worldwide unbacked paper, or “fiat,” money regime is an economically and socially destructive scheme—with far-reaching and seriously harmful consequences. There is an answer, though, and this lies in ending the money production monopoly of […]
Bad Money
Dreamstime Bad Money Our debt-based fiat money system poses an existential threat We’re all going to have to be a lot more resilient in the future. The “long emergency“, as James Howard Kunstler puts it, is now upon us. If ever there was a wake-up call from Mother Nature, it’s been the weather events over […]
The Degrading Facts of a Fake Money Hole in the Head
The Degrading Facts of a Fake Money Hole in the Head Squishy Fact Finding Mission Today we begin with the facts. But not just the facts; the facts of the facts. We want to better understand just what it is that is provoking today’s ludicrous world. To clarify, we are not after the cold hard […]
Surviving The Next Great Depression
Surviving The Next Great Depression Numerous economists and investors are warning of another great financial crisis to come but few people want to listen to them. No crisis is ever exactly like the last one and the next great depression will be different from the last one. In the last depression those who had money were […]
The Fed’s Great Unwind: Will It Sink Us?
THE FED’S GREAT UNWIND: WILL IT SINK US? In the eyes of many people, the Federal Reserve (Fed) is an indispensable institution. We are told it supports growth and employment, fends off the negative shocks, and fights inflation. Nothing could be farther from the truth. The Fed’s fiat money regime is economically and socially highly […]
Deutsche Asks A Stunning Question: “Is This The Beginning Of The End Of Fiat Money?”
Deutsche Asks A Stunning Question: “Is This The Beginning Of The End Of Fiat Money?” One month ago, Deutsche Bank’s unorthodox credit analyst, Jim Reid published a phenomenal report, one which just a few years ago would have been anathema, as it dealt with two formerly taboo topics: is a financial crisis coming (yes), and […]
Bad Ideas About Money and Bitcoin
Bad Ideas About Money and Bitcoin How We Got Used to Fiat Money Most false or irrational ideas about money are not new. For example, take the idea that government can just fix the price of one monetary asset against another. Some people think that we can have a gold standard by such a decree […]
Are You Ready for a Crack-Up Boom?
Are You Ready for a Crack-Up Boom? Crack Up! BALTIMORE – The Dow rose on Wednesday morning… after Janet Yellen made soothing remarks about a “gradual” return to normal interest rates. Then investors must have realized that returning to normal is not on the Fed’s agenda. The Dow finished the day down 99 points. We […]
Something Happened
Something Happened Ben Bernanke’s memoir is out and the chatter about it inevitably turns to the sickening moments in September 2008 when “the world economy came very close to collapse.” Easy to say, but how many people know what that means? It’s every bit as opaque as the operations of the Federal Reserve itself. There […]
Part Deux ‐ Shorting the Federal Reserve
Part Deux ‐ Shorting the Federal Reserve The sequence of events leading up the French Revolution are likely unfamiliar to most. Yet money printing and a debauched French currency played no small part in those events. As a sequel to “Shorting the Federal Reserve”, 720 Global aims to provide an historical example of excessive money […]
