Home » Posts tagged 'money'

Tag Archives: money

Olduvai
Click on image to purchase

Olduvai III: Catacylsm
Click on image to purchase

Post categories

Post Archives by Category

The Bulletin: November 21-27, 2024

The Bulletin: November 21-27, 2024

How Societal Collapse Can Save Humans From Mass Extinction

Our Sixty Days of Nuclear Chicken Have Begun

ZeroHedge Edit: Fort Knox, Egon Von Greyerz, and Zoltan Pozsar

Doug Casey on the Looming Debt Crisis and What Lies Ahead – International Man

Biden’s parting Ukrainian sacrifice – by Aaron Maté

Trump’s science-denying fanatics are bad enough. Yet even our climate ‘solutions’ are now the stuff of total delusion | George Monbiot | The Guardian

Science Snippets: The Reality Of Abrupt, Irreversible Climate Change

Power Play: The Future of Food – Global Research

Why Hope Is Hopium

The Cantillon Effect Explained: Why Inflation Helps the State at Your Expense

UN’s Latest Climate Agenda Sparks Alarms Over Online Censorship

Today In Imperial Recklessness And Insanity

Rooted In Reality: Onions and Building Community

Mining fuels global deforestation and CO₂ surge: Study warns of climate risks

Taking the pulse of beans – by Gunnar Rundgren

Anti-Progress, Breakdown, Reset

If You Want To Help The World, Focus On Fighting The Empire

How Billionaires Manipulate the Public

Fueling the Flames: How the West’s Military Emissions Undermine Climate Action | Common Dreams

How the Global Distribution of Wealth Has Changed (2000-2023)

Rhyming History: Rome’s Hyperinflation

Blissful Ignorance is Blissfully Deceptive

Solutions Without Understanding: Why We’re Asking the Wrong Questions | Art Berman

A Diesel Powered Civilization – The Honest Sorcerer

‘It’s not drought – it’s looting’: the Spanish villages where people are forced to buy back their own drinking water

Population Decline A Challenge Or A Chance For A Better Future?

Does Anyone Think the COP Meetings Are Useful?

Russia’s Final Warning to NATO – You’ll Get your War, but It’ll be Over in 15 Minutes. – Global Research

Ukraine’s Former Top Military Commander Claims ‘World War 3 Has Officially Begun’ | ZeroHedge

Inflation: Savior of the Rich

Days of Thunder

Political Perfection | Do the Math

The Average Person’s Reaction to Collapse – by Lillian

Iraq Invasion – The Biggest Terrorist Attack in Modern History. “Terrorism of US-UK-NATO-Israel” – Global Research

Transfer Of Nukes To Ukraine Would Be Tantamount To Attack On Russia: Medvedev | ZeroHedge

The ‘Empire Killer’ Strikes Again – International Man

Globalists Go For Broke: Plan To Trigger World War III Moves Forward – Alt-Market.us

A Practical Guide to Money During Collapse | by Climate Survivor | Nov, 2024 | Medium

Would Returning to the Gold Standard Resolve Our Most Pressing Monetary Problems?

Would Returning to the Gold Standard Resolve Our Most Pressing Monetary Problems?

We all know the problem with fiat currency: the temptation to print more currency is irresistible, but ultimately destructive.

Money in all its forms attracts quasi-religious beliefs and convictions. This makes it difficult to discuss with anything resembling objectivity. But given the centrality of money (and its sibling, greed) in human affairs, let’s press on and ask: would returning to the Gold Standard (i.e. gold as money / gold-backed currency) resolve our most pressing monetary problems?

The conviction that the answer is “yes” is widespread. In this view, President Nixon “closing the gold window,” in 1971, i.e. ending the convertibility of the US dollar to gold in international foreign exchange (FX) markets, is the Original Sin that doomed us to the inflationary Hell of fiat currency, i.e. currency unbacked by anything tangible such as gold or silver.

In this view, the only way to avoid the consequences of this Original Sin–the eventual reduction of fiat currency to zero value via hyper-inflation as the currency is “printed” without restraint–is to return to the gold standard.

So far, so good, but from here on in it gets tricky. We have a long history of precious metals being the only form of money in various economies, and an almost as long history of paper money augmenting precious-metal “real money” (in China, for example) and the issuance of copper coinage to grease small transactions.

Gold-backed currency rolls off the tongue rather easily, but what exactly does this mean? In theory, it means every unit of paper / digital currency in circulation can be converted on demand to a physical quantity of gold or silver at an exchange rate either set by the nation-state’s government or by the market.

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

Money’s Grim Future

Money's Grim Future

Money’s Grim Future

Prepare for total control of your economic life. That is the message from Brownstone Fellow Aaron Day at his 4-hour workshop in San Jose, California last Saturday, May 11th.

Day has written the excellent book The Final Countdownwhich carefully describes the increasingly aggressive assaults on our freedoms by our government and by the global elites. He has just begun a series of workshops around the country to deliver that message and to show us a way to resist. The book was published just last year, but Day acknowledges during the presentation that he had to make alarming updates to his slides from current news, not even weeks old – more government intrusion, more legislation, and more spurious arrests, all attacking our ability to interact freely and transact our business.

As in the book, the presentation begins with a fictional account of a family set in the near future in a Western democracy, but perhaps all too familiar to current denizens of China, with their controlled currency and social credit scores. The image is easy to dismiss; it could never happen here. And yet, Day goes on to show how it actually is happening here. With a litany of article after article, official statement after statement, and video after video he makes his case. It is happening – he leaves no doubt.

Day gives ample historical reference points as well. How did we get here? It has been a long time coming. The constant push of globalist powers to remove our freedoms and control all resources has been in the works for a century. Perhaps it has never been different; the powerful seek more power, and the levers of technocracy make that easier than ever. The difference now is that the reach is truly global. There has been ever-increasing control over food, water, energy, and even the space we occupy and the air we breathe.

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

Money Is a Monopoly Government Will Never Surrender

Money Is a Monopoly Government Will Never Surrender

A major intellectual revelation from my youth came from reading Murray Rothbard’s “What Has Government Done to Our Money?” (1963). He includes a passing opinion that private markets are perfectly capable of producing money with no help from government. Under a sweeping monetary reform, private mints could compete in offering this good with full associated services. There is no need for any government intervention here.

It was the kind of claim that, at some point in one’s life, causes the jaw to hit the floor. Investigating this assertion more, I came to see that there was a large literature on the topic. Historically, money originated in the market economy itself, a naturally evolving institution that met the needs of trade. Whatever good was generally valued by everyone, and was as capable of being divided into consistent units with a stable value, could be deployed as money, with no need for government to do anything but watch.

But of course history has not panned out that way. Every government has a strong incentive to monopolize the good called money because this is how they can tax their citizens, reward the most compliant industries, cultivate close relationships with bankers, and inflate the currency at will through a variety of methods depending on the technology of the time.

We can of course imagine primitive tribes or pre-colonial native populations using rocks and shells, but is there a modern case where private coinage became normalized? In a major but often overlooked work of historical scholarship, economist George Selgin has written the most extensive treatment of the private coinage industry in the UK at the dawn of the Industrial Revolution.

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

Cashless Society: WEF Boasts That 98% Of Central Banks Are Adopting CBDCs

Cashless Society: WEF Boasts That 98% Of Central Banks Are Adopting CBDCs

Whatever happened to the WEF?  One minute they were everywhere in the media and now they have all but disappeared from public discourse.  After the pandemic agenda was defeated and the plan to exploit public fear to create a perpetual medical autocracy was exposed, Klaus Schwab and his merry band of globalists slithered back into the woodwork.  To be sure, we’ll be seeing them again one day, but for now the WEF has relegated itself away from the spotlight and into the dark recesses of the Davos echo chamber.

Much of their discussions now focus on issues like climate change or DEI (Diversity, Equity, Inclusion), but one vital subject continues to pop up in the white papers of global think tanks and it’s a program that was introduced very publicly during covid.  Every person that cares about economic freedom should be wary of Central Bank Digital Currencies (CBDCs) as perhaps the biggest threat to human liberty since the attempted introduction of vaccine passports.

The WEF recently boasted in a new white paper that 98% of all central banks are now pursuing CBDC programs.  The report, titled ‘Modernizing Financial Markets With Wholesale Central Bank Digital Currency’, notes:

“CeBM is ideal for systemically important transactions despite the emergence of alternative payment instruments…Wholesale central bank digital currency (wCBDC) is a form of CeBM that could unlock new economic models and integration points that are not possible today.”

The paper primarily focuses on the streamlining of crossborder transactions, an effort which the Bank for International Settlements (BIS) has been deeply involved in for the past few years…

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

Twilight of the Blobs

Twilight of the Blobs

“Respect the blob, learn from the blob, love the blob.” — Robert Kagan, Arch Blob Monster, Brookings, 2020

    HG Wells concocted a marvelous trick ending to his classic tale The War of the Worlds (1897). Remember: the colossal Martian tripod “fighting machines” swarm all over the planet zapping cities with “heat rays”. . . it looks like all-is-lost . . . but finally the darn things just quit marching, stop zapping, and stand down . . . the alien protoplasms at the controls (surprise ending) turn up dead and rotting inside from the action of our tiny invisible allies: the earth’s one-celled, disease-causing bacteria, to which the Martian blob creatures have no immunity!

The Gaian overtones in that story resound today as we Earthlings devise ingenious new methods to wreck terrestrial life, including ourselves. The planet seems to have some teleological drive to save itself, a kind of immune system. Notice: in all the ongoing debates about the wonders and dangers of A-I, and Bitcoin, and suffocating surveillance, nobody ever talks about the sketchy condition of the electric grid that all these worrisome phenomena utterly rely on. In our chatter over Peak Oil, there’s little awareness of oil production’s utter dependence on steady capital flows. In all the guff about centralized control emitted by Klaus Schwab and his World Economic Forum, there’s no mention of the centrifugal forces driving human affairs to re-localization, dis-aggregation of large states, and down-scaling of many activities. In our zeal to become Gods, we miss a lot.

Imagine: Bitcoin shoots up to a million dollars. You’re a zillionaire! Uh Oh. . . somewhere outside Zaneseville, Ohio, a squirrel takes a final chaw through some old insulation on a wire coming out of a transformer. His head blows up in a blue arc flash, and in a few seconds all the electricity goes out from Chicago to Boston…

…click on the above link to read the rest…

Financing the End of Modernity

Financing the End of Modernity

How financialization heralds the end of the industrial age

That didn’t worked out as intended… Who would’ve thought? Photo by micheile henderson on Unsplash

Western neoliberal economies are on the brink of a steep economic decline. Barring an energy / productivity miracle a prolonged and deep recession is clearly on the horizon. While mainstream pundits keep “informing” the public how GDP was actually growing in the past decades (except for a few brief moments), and how the G7 is still the top economic power block, the real economy of goods and services tells a completely different story. Growth — in the sense of real economic output — has stopped 18 years ago in the West, and conditions are now ripe for a rapid contraction. A sobering assessment of the real economy — in which your humble blogger is still actively involved — has become due. Buckle up.


As long time readers might already know by heart: money is not the economy, energy is. Money is but a claim on energy and resources. Everything we mine, grow, manufacture and consume takes energy to produce. No energy, no production, no services. The more we produce / consume the more energy is used up. And while it may seem like that rich countries have somehow decoupled their economies from energy use (ie managed to grow GDP much faster than energy consumption), in fact the opposite is true. All they did was send their high energy intensity manufacturing and mining abroad, then imported all they needed using their overvalued currencies, thus becoming more independent on foreign trade than ever.

The public, together with it’s ruling elite, was led down the primrose path with GDP, and now a reckoning is in short order.

…click on the above link to read the rest…

Today’s Contemplation: Collapse Cometh VIII–Peak Oil and Sociopolitics

Today’s Contemplation: Collapse Cometh VIII

Oct 30, 2020
Chitchen Itza, Mexico (1986) Photo by author

Peak Oil and Sociopolitics

Once again, a comment I posted in response to an article on The Tyee.

Where to begin? I realise this article is primarily about a federal political party and its future but there are two underlying issues that are discussed that need far more exploration and understanding if we are going to be projecting where a particular party or even government will be down the road (let alone the entire world).

If we are going to be discussing energy and Peak Oil then there is SO much more to bring into the conversation. Yes, politics plays a role (as it always does) but the topic is vastly wider than sociopolitics. It encompasses virtually everything in our complex, globalised industrial world. Everything. From the way we create potable water, to how we feed ourselves, to how we build and heat our homes (I’ve purposely focused on the three items we NEED to live…everything else is icing but just as dependent on energy, especially fossil fuels).

First things first. There is NO substitute for fossil fuels. At least not one that can sustain our current world the way it is configured. No, alternatives to fossil fuels cannot do it. They are not ‘clean’ as the mining, refinement, and manufacturing processes for them are environmentally damaging. They have a low energy-return-on-energy-invested (EROEI) and provide little ‘bang for the buck’. They cannot fuel many important industrial processes such as steel and concrete production. They depend very much on continued exploitation of fossil fuel, both upstream and downstream. They are NOT a panacea.

We are stuck with fossil fuels, until and unless we are ready and willing to give up probably 90% or more of what we consider ‘modernity’.

Then there’s the fiscal aspect discussed here. While it may be ‘progressive’ to be discussing and believing that money grows on trees (or at least within the 1 and 0s of computers), this infinite money growth that is being bandied about as another wonderful panacea for our world that’s gone sideways carries with it enormous consequences.

Let’s agree for the sake of argument that we can indeed just print as much money as we want to ‘pay’ for all that we want and desire — and we can, we just create it from thin air. Presto. More money.

I think most would see that if everyone was suddenly in receipt of, say a million dollars, there would be knock-on effects in the price inflation we would experience; after all, more money chasing the same amount of goods and services would, as most economists would agree and experience has shown, result in higher prices experienced by the population (unless of course it just gets left in the computer data banks and accumulates interest; oh wait, interest rates are zero or lower).

Okay, so let’s say price inflation hits. Solution: we deposit another million, or maybe two million in everyone’s new digital bank account…same problem.

In fact, we’re probably beginning to experience hyperinflation; and experiments in this realm have never ended well. The surest way to bring about a loss of faith in fiat currency and eventual economic collapse is through currency debasement, which is exactly what endless money printing does. But, again, for the sake of argument, let’s say that doesn’t happen (miracles do sometimes occur; although I’m not sure the Leafs winning the Stanley Cup is one of them).

So are the creation of goods and services ramped up to meet demand since everyone has money to buy things? Likely. Here is where we get back to the first issue.

Every dollar spent requires energy to produce the goods or services provided. Think this doesn’t happen? Take a look at GDP and energy use. They are correlated almost perfectly. They increase together. Think alternative energy will meet this demand? Hardly. Increased alternative energy production has not even been able to keep up with increasing demand. The world has had to continue to ramp up fossil fuel use to meet demands. The more money that is created and spent, the more demand there is for energy and resources.

But we have a slight problem. We live on a finite world with finite resources but especially fossil fuels which underpin our current world and all of its interconnected complexities. Our world as designed and functioning currently is fubar without fossil fuels.

It doesn’t matter what party is in charge of things. It never has. The Liberals, NDP, or Greens for that matter can wrap themselves in cloaks of green (to give the illusion of being environmentally friendly; or, of having lots of money; or, both perhaps) and promise a green/clean economy where everyone has everything they want and need, and it won’t mean a damn thing in the end. We could all sit around the campfire holding hands and singing kumbayah but that won’t keep the impending cliff at bay.

These inconvenient truths, as it were, are already biting us and we can only ‘paper’ over them for so long. At some point we have to realise that like Wile E. Coyote we left solid ground some time ago and have been running on air with nothing holding us up. Until a tipping point of people come to this realisation it will be business as usual and the telling of comforting narratives to reduce our mass cognitive dissonance and avoid the pain of reality.

Rant concluded.

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 issued it. A difficult question investors today face is determining which assets will appreciate most thus rising in value and which form to hold their wealth.The value of fiat money is derived from supply and demand and the stability of the government that issues it. Over the years many promises have been made that simply cannot or will not be honored. History and many real-life examples exist that indicate that promises are easier to make than keep.

It is very possible in the near future we may see a strong bifurcation of the financial system. The Hard Asset Inflation / Paper Asset Deflation Theory laid out below is based on the idea that as wealthy individuals begin to realize the fragility of the current financial system they will shift their investment preferences to items of substance.

This repositioning of wealth in assets could occur rather rapidly during a period of inflation. If such a revamping of how the wealthy invest takes place it could drastically add to any inflationary trends. In short, some investments would fall like a stone while others soar. Imagine real estate doubling in value while pensions are cut and stocks falter. This dovetails with my theory the Fed should be ecstatic so many people have been willing to invest in intangible assets because it has helped to minimize inflation.

…click on the above link to read the rest…

The Long Wave Versus the Printing Press

The Long Wave Versus the Printing Press

Winter has been coming for a very long time. Here’s why

The fascinating thing about “long wave” analysis (broadly defined to include Kondratieff waves,  Elliott waves, and William Strauss and Neil Howe’s Fourth Turning) is that while each theory uses its own indicators and terminology to show how societies move through recurring cultural/psychological/financial stages, they’ve all reached the same conclusion: we’re toast.

The first decade of this century marked the theoretical end of an Elliott Wave Grand Supercycle — and of an even bigger wave that began in the Dark Ages…

…the start of Kondratiff winter…

…and the beginning of a Fourth “Crisis” Turning. As Strauss and Howe put it in 1997:

Around the year 2005 [give or take a few years], a sudden spark will catalyze a Crisis mood.  Remnants of the old social order will disintegrate. Political and economic trust will implode.  Real hardship will beset the land, with severe distress that could involve questions of class, race, nation and empire.…Sometime before the year 2025, America will pass through a great gate in history, commensurate with the American Revolution, Civil War, and twin emergencies of the Great Depression and World War II….The risk of catastrophe will be very high. The nation could erupt into insurrection or civil violence, crack up geographically, or succumb to authoritarian rule. If there is a war, it is likely to be one of maximum risk and effort – in other words, total war

But a funny thing happened on the way to the Greater Depression: We’ve somehow kept it together, inflating the 2000s housing bubble and, when that burst, replacing it with the everything bubble. Policymakers, talking heads, and most investors (judging by the past year’s stock market action) seem to think that a normal recovery is underway and that a crash remains a low-probability event.

…click on the above link to read the rest…

I also hate this conclusion (on net zero)

I also hate this conclusion (on net zero)

I begin the final section of my chapter on Energy Collapse with the subtitle “I also hate this conclusion”. Because I did not want to discover that modern societies cannot continue their energy trajectories by simply displacing fossil fuels with new technologies. But that is what the sum of the relevant research shows us. In addition, the pursuit of the total electrification of economies will have hugely damaging effects on the biosphere, due to the mining involved. This is the awkward reality that most Western environmentalists are ignoring. The ‘green’ capitalists are extremely happy for us to keep ignoring that reality, as then any pressure for action translates into more money and pleasure for them. But if activism is about our personal commitment to higher goals, whether using moderate or radical tactics, then it must start with a fair assessment of reality and possibility. Otherwise, how is such activism not simply a mix of self-aggrandisement and emotional distraction by keeping busy?

The book Breaking Together is now available in audio, and Chapter 3 on Energy Collapse can be heard for free on soundcloud. To convey some of the arguments, below I share the first and last sections of the chapter. The image of the Kintsugi Tesla is from the Kintsugi World art project which accompanies the book.

I was wrong about Elon. Or to be more precise, I was wrong about Tesla, the car company—not the physicist. Back in 2007, I included Tesla Motors in a report for the environmental group WWF, as one of a handful of companies that would be shaping our future. I was particularly impressed with how the company was tackling the stigma about driving electric vehicles and using a sportscar style and luxury pricing to shift those perceptions…

…click on the above link to read the rest…

Modern Currency Policy: Nations Compete, Citizens Suffer

Modern Currency Policy: Nations Compete, Citizens Suffer

Below we consider how modern currency policy may not be so good for, well, the people…

This is why gold inevitably enters the conversation, for unlike policy makers, this old pet rock garners more trust.

Gold, of course, loves chaos, tanking currencies and cornered, debt-soaked nations, the numbers of which rise with each passing day.

We see currency debasement as mathematically and historically inevitable, though we have no clue (no one really does) as to the precise date, trigger or time the already teetering fiat money systems fall over the global debt cliff.

We only know that the $300+T cliff is here, and that nations are racing toward it at historical speed, with equally historical consequences.

Physical gold holders, however, enjoy a certain and calm advantage: They don’t need to be precise timers; simply patient owners.

As for more signs of the move toward weakening currencies in general, and a weakening USD in particular, let’s look at some more history and current facts.

Hot vs. Financial Wars: Today’s Evidence, Tomorrow’s Polices

As headlines change with daily Western biases regarding the military war in Ukraine, America’s financial war with the East (i.e., China) will continue into the next generation.

It’s no secret to me, or many others, moreover, that the war in the Ukraine is a US proxy war against Russia, in which Ukraine (and its citizens) are merely a convenient battering ram against Putin.

That’s just my opinion, but we’ve seen this “freedom” movie before. Many times, and in many countries, none of which ended with much “freedom” …

But as to financial wars, they too are just an extension of politics by another means, and with the growing waves of de-dollarization rising in speed and height following the predictable ripple of effects of the 2022 sanctions against Russia…

…click on the above link to read the rest…

ANALYSIS: Will Zimbabwe Pave the Way for Gold-Backed Money?

ANALYSIS: Will Zimbabwe Pave the Way for Gold-Backed Money?

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 in 1980, the southern African country has been ravaged by inflation and overall economic turmoil. Over the past 40 years, the annual inflation rate has only touched single-digit territory twice: 1980 (7 percent) and 1988 (7 percent).

Excessive money printing, fiscal mismanagement, economic sanctions, and currency instability have been the root causes of its perpetual financial crisis, resulting in political and social upheaval.

In 2008, Zimbabwe was given the unfortunate record of the highest inflation rate in the world, touching 250 million percent. This forced then-President Robert Mugabe and his government to abandon the Zimbabwe dollar and begin relying on nine foreign currencies, particularly the U.S. dollar and the South African rand. In 2019, Harare introduced a new Zimbabwean currency, but it did not take long for the revival of hyperinflation, with the inflation rate surpassing 600 percent by March 2020.

After numerous trials and errors on the monetary policy front, the Reserve Bank of Zimbabwe (RBZ) experimented with something old and something new: a gold-backed digital currency.

“Pursuant to the resolution of the Monetary Policy Committee (the MPC) on 28 March 2023 to complement the issuance of physical gold coins with gold-backed digital products, the Bank wishes to advise that it will be issuing gold-backed digital tokens with effect from 8 May 2023,” said RBZ Governor John Mangudya in a statement. “The gold-backed tokens will be fully backed by physical gold held by the Bank.”

Central bank officials say this money will be supported by 140 kilograms (4,900 ounces) of gold.

…click on the above link to read the rest…

Doug Casey on the Death of Privacy… and What Comes Next

Doug Casey on the Death of Privacy… and What Comes Next

Death of Privacy

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 coordinated effort?

Doug Casey: Let me draw your attention to three truths that my friend Nick Giambruno has pointed out about money in bank accounts.

#1. The money isn’t really yours. You’re just another unsecured creditor if the bank goes bust.

#2. The money isn’t actually there. It’s been lent out to borrowers who are illiquid or insolvent.

#3. The money isn’t really money. It’s credit created out of thin air.

The point is that cash is freedom. And when the State limits the utility of cash—physical dollars that don’t leave an electronic trail—they are limiting your personal freedom to act and compromising your privacy. Governments are naturally opposed to personal freedom and personal privacy because those things limit their control, and governments are all about control.

International Man: Governments will probably mandate Central Bank Digital Currencies (CBDCs) as the “solution” when the next real or contrived crisis hits—which is likely not far off.

What’s your take? What are the implications for financial privacy?

Doug Casey: CBDCs are proposed as a solution, but in fact, they’re a gigantic problem.

Government is not your friend, and CBDCs are not a solution.

If they successfully implement CBDCs, it would mean that anything you buy or sell, and any income you earn, will go through CBDCs. You will have zero effective privacy. The Authorities will automatically know what you own, and they’ll be in a position to control your assets. Instantly.

…click on the above link to read the rest…

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 Crisesmoney printingThe 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 possible monetary regime shift, these damage the money’s anchoring system. A great asset inflation emerges and leads on to an eruption of another banking crisis, devastating in comparison with the first.

An array of additional safety structures is put in place which makes the now-bad money worse than before. After a long and variable lag, a long and violent monetary storm means the safety structures fail, a banking crisis again erupts but this time milder than the previous.

Then a further tinkering with the safety structures causes money to deteriorate even more in quality. Another shift in monetary regime coincidentally does much additional damage. Consequently, in time, a new crisis erupts much worse than the last one.

The safety engineers do more work, causing yet more damage to the mechanisms essential to sound money. But now the safety structures are so pervasive and strong across the banking industry that there is widespread belief that bank crisis eruptions will be smaller or, more likely, totally repressed.

Subsequent events demonstrate those beliefs to be hollow. There is a new round of safety structure elaboration leading to further monetary deterioration. Regime officials declare the end of bank crises.

The cumulative economic cost of this vaunted triumph over bank crisis is an advance of monopoly capitalism and monetary statism that throttles the essential dynamism of free market capitalism. Malinvestment becomes cumulatively larger. Living standards in general suffer. The severely ailing money which subsists is beyond any cure except the most radical.

…click on the above link to read the rest…

Olduvai IV: Courage
Click on image to read excerpts

Olduvai II: Exodus
Click on image to purchase

Click on image to purchase @ FriesenPress