{"id":49993,"date":"2019-12-06T15:06:34","date_gmt":"2019-12-06T20:06:34","guid":{"rendered":"https:\/\/olduvai.ca\/?p=49993"},"modified":"2019-12-06T15:06:44","modified_gmt":"2019-12-06T20:06:44","slug":"every-bubble-eventually-finds-its-pin","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=49993","title":{"rendered":"Every Bubble Eventually Finds its Pin"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/economicprism.com\/every-bubble-eventually-finds-its-pin\/\">Every Bubble Eventually Finds its Pin<\/a><\/h3>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft\"><a href=\"https:\/\/economicprism.com\/every-bubble-eventually-finds-its-pin\/\"><img decoding=\"async\" src=\"https:\/\/economicprism.com\/wp-content\/uploads\/2011\/12\/StockMarket.jpg\" alt=\"\" class=\"wp-image-889\"\/><\/a><\/figure><\/div>\n\n\n\n<p>The transfer of wealth from workers and savers to governments and big banks continued this week with Swiss-like precision.&nbsp; The process is both mechanical and subtle.&nbsp; Here in the USA the automated elegance of this ongoing operation receives little attention.<\/p>\n\n\n\n<p>NFL football.&nbsp; EBT card acceptance at Del Taco.&nbsp; Adam Schiff\u2019s impeachment extravaganza.&nbsp; You name it. &nbsp;Bread and circuses like these \u2013 and many others \u2013 offer the American populace countless opportunities for chasing the wild goose.<\/p>\n\n\n\n<p>All the while, and with little fanfare, debts pile up like deadwood in Sequoia National Forest.&nbsp; These debts, both public and private, stand little chance of ever being honestly repaid.&nbsp; According to the&nbsp;<a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2019\/11\/07\/sp110719-how-to-use-debt-wisely\">IMF<\/a>, global debt \u2013 &nbsp;both public and private \u2013 has reached an all-time high of $188 trillion.&nbsp; That comes to about 230 percent of world output.<\/p>\n\n\n\n<p>Certainly, some of the private debt will be defaulted on during the next credit crisis and depression.&nbsp; But when it comes to the public debt, governments do everything they can to prevent an outright default.&nbsp; Central banks crank up the printing press and attempt to inflate it away.<\/p>\n\n\n\n<p>After Nixon temporarily suspended the Bretton Woods Agreement in 1971, the money supply could be expanded without technical limitations.\u00a0 This includes issuing new debt to pay for government spending above and beyond tax receipts.\u00a0 Hence, since 1971, government directed money supply inflation has been the standard operating procedure in the U.S. and much of the world.<\/p>\n\n\n\n<p><strong>Downright Disgraceful<\/strong><\/p>\n\n\n\n<p>Expanding the money supply has the effect of dissipating wealth from the currency.&nbsp; The process allows governments, which are first in line to spend this newly created money, a back door into your bank account.&nbsp; Without levying taxes, they get access to your wealth and future earnings and leave you with money of diminished value.<\/p>\n\n\n\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Every Bubble Eventually Finds its Pin The transfer of wealth from workers and savers to governments and big banks continued this week with Swiss-like precision.&nbsp; The process is both mechanical and subtle.&nbsp; Here in the USA the automated elegance of this ongoing operation receives little attention. NFL football.&nbsp; EBT card acceptance at Del Taco.&nbsp; Adam [&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],"tags":[195,12043,11763,1304,538,4219,868],"class_list":["post-49993","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-economic-prism","tag-mn-gordon","tag-monetary-inflation","tag-money-printing","tag-richard-nixon","tag-wealth"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/49993","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=49993"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/49993\/revisions"}],"predecessor-version":[{"id":49994,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/49993\/revisions\/49994"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}