{"id":42684,"date":"2019-01-13T15:43:16","date_gmt":"2019-01-13T20:43:16","guid":{"rendered":"https:\/\/olduvai.ca\/?p=42684"},"modified":"2019-01-13T15:43:16","modified_gmt":"2019-01-13T20:43:16","slug":"the-yellow-vests-get-it-right-by-robert-gore","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=42684","title":{"rendered":"The Yellow Vests Get it Right, by Robert\u00a0Gore"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"https:\/\/straightlinelogic.com\/2019\/01\/13\/the-yellow-vests-get-it-right-by-robert-gore\/\">The Yellow Vests Get it Right, by Robert\u00a0Gore<\/a><\/h3>\n<div class=\"entry-content\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i2.wp.com\/www.digitechworld.co.uk\/ebay\/images\/fullscreen\/hivestjacket.jpg\" width=\"410\" height=\"575\" \/><\/p>\n<p><strong>Financial nuclear warheads<\/strong>.<\/p>\n<p>The mainstream media has degenerated irreparably. Here\u2019s a reliable rule of thumb: if it\u2019s important it\u2019s not covered; if it\u2019s covered it\u2019s not important. Stories in the American mainstream press about Yellow Vest protests have been few. One aspect of the protests, transcendently important, has received scant coverage.<\/p>\n<p>The Yellow Vest protestors have called for <a href=\"https:\/\/straightlinelogic.com\/2019\/01\/11\/french-yellow-vest-protesters-urge-supporters-to-spark-bank-run-with-mass-withdrawals-by-tyler-durden\/\" target=\"_blank\" rel=\"noopener\">a coordinated run on French banks<\/a>. Whether they realize it or not, they\u2019re playing with nuclear warheads that could annihilate not just the French, but Europe\u2019s and the entire world\u2019s financial system. Because inextricably linked to the ends of contemporary governments\u2015how much they can screw up the lives of those who must live under them\u2014is the question of means\u2015how do they fund their misrule? The short answer is taxes and debt.<\/p>\n<p>Since 1971, when President Nixon \u2028\u201ctemporarily\u201d suspended international convertibility of dollars for gold (it\u2019s never been reinstated), the monetary basis of the global economy has been fiat debt. Neither government or central bank debt nor currencies are tethered to any real constraint, like precious metals (see \u201c<a href=\"https:\/\/straightlinelogic.com\/2015\/09\/09\/real-money-by-robert-gore\/\" target=\"_blank\" rel=\"noopener\">Real Money<\/a>,\u201d SLL). Thus, politicians and monetary officials can create as much debt as they want: debt by fiat.<\/p>\n<p>Government and central bank debt is at the apex of the global debt pyramid. The next tier is commercial banks that have accounts at central banks. Those accounts are bank assets and central bank liabilities, or debts. Central banks expand their fiat liabilities to banks in exchange for banks\u2019 fiat government debt, an exchange called debt monetization, which is a bit of a misnomer since no \u201c<a href=\"https:\/\/straightlinelogic.com\/2015\/09\/09\/real-money-by-robert-gore\/\" target=\"_blank\" rel=\"noopener\">Real Money<\/a>\u201d is involved. The \u201cmonetization\u201d is the central bank\u2019s fiat expansion of banks\u2019 accounts with the central bank in exchange for fiat government debt, which expands banks\u2019 assets available for loans to governments, businesses, and individuals.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Yellow Vests Get it Right, by Robert\u00a0Gore Financial nuclear warheads. The mainstream media has degenerated irreparably. Here\u2019s a reliable rule of thumb: if it\u2019s important it\u2019s not covered; if it\u2019s covered it\u2019s not important. Stories in the American mainstream press about Yellow Vest protests have been few. One aspect of the protests, transcendently important, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[124,195,281,23914,333,379,496,12280,12281,783,23287],"class_list":["post-42684","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-central-banks","tag-debt","tag-europe","tag-fiat-debt","tag-france","tag-government","tag-mainstream-media","tag-robert-gore","tag-straight-line-logic","tag-taxes","tag-yellow-vest-protests"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42684"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42684\/revisions"}],"predecessor-version":[{"id":42685,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42684\/revisions\/42685"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}