{"id":62198,"date":"2022-03-14T07:52:02","date_gmt":"2022-03-14T12:52:02","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62198"},"modified":"2022-03-14T07:52:02","modified_gmt":"2022-03-14T12:52:02","slug":"the-ins-and-outs-of-whose-money-is-it-anyway","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62198","title":{"rendered":"The Ins and Outs of Whose Money is it Anyway?"},"content":{"rendered":"
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The Ins and Outs of Whose Money is it Anyway?<\/a><\/h3>\n<\/header>\n
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\u201cInside, Outside\u2026. Leave me alone!<\/em>
\nInside, Outside \u2026\u00a0Nowhere is home!<\/em>
\nInside, Outside \u2026\u00a0Where have I been?<\/em>
\nOut of my brain on the 5:15\u2026\u201d
\n\u2014 The Who<\/strong><\/p><\/blockquote>\n

There\u2019s been a massive reaction to Credit Suisse analyst Zoltan Poszar\u2019s note about the birth of a new\u00a0Bretton Woods agreement<\/a>.<\/p>\n

Every investor in the world should read it. Zerohedge posted (behind their paywall<\/a>) a lengthy analysis of Poszar\u2019s musing along with some reactions from Wall St. It is well worth your time.<\/p>\n

The people most freaked out about this note are the Keynesians who worship at the altar of what Poszar calls\u00a0Inside Money<\/em>\u00a0\u2014 money that only exists\u00a0inside<\/em>\u00a0the financial system, bonds, credit, dollars, euros, etc.<\/p>\n

Austrians, like myself, have always understood that eventually\u00a0Inside Money<\/em>\u00a0fails because it is ultimately nothing more than a Ponzi Scheme built on top of\u00a0Outside Money<\/em>\u00a0\u2014 money that exists outside the financial system, like commodities and bitcoin.<\/p>\n

Poszar makes his early case and then goes through the mechanics of what is happening in the financial plumbing of the world economy right now to prove the stresses are real and building quickly towards an implosion of\u00a0Inside Money<\/em>\u00a0and an explosion of\u00a0Outside Money.<\/em><\/p>\n

Again, anyone with a passing acquaintance with Austrian business cycle theory and\u00a0Mises\u2019 Theory of Money and Credit<\/a>\u00a0always knew this day was coming.<\/p>\n

Today\u2019s \u201cInside Money\u201d standard, known colloquially as the Dollar Reserve standard, is actually what I like to call \u201cMilton Friedman\u2019s Nightmare.\u201d It is nothing more than a system of competitively devalued and inflated debt-based scrips running around drinking each other\u2019s milkshakes until everyone\u2019s glass is empty.<\/p>\n

FYI, there are a lot of empty glasses around the world right now and more are being created everyday as the financial system turned predatory after the Lehman Bros. collapse in 2008.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Ins and Outs of Whose Money is it Anyway? \u201cInside, Outside\u2026. Leave me alone! Inside, Outside \u2026\u00a0Nowhere is home! Inside, Outside \u2026\u00a0Where have I been? Out of my brain on the 5:15\u2026\u201d \u2014 The Who There\u2019s been a massive reaction to Credit Suisse analyst Zoltan Poszar\u2019s note about the birth of a new\u00a0Bretton Woods […]<\/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":[2,5,6],"tags":[2125,9172,124,175,309,3918,21273,426,32760,467,536,32761,16963,4318,32759],"class_list":["post-62198","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","category-liberty","tag-austrian-economics","tag-bretton-woods-agreement","tag-central-banks","tag-credit","tag-fiat-currency","tag-fiat-money","tag-gold-goats-and-guns","tag-inflation","tag-inside-money","tag-keynesian-economics","tag-money","tag-outside-money","tag-tom-luongo","tag-zerohedge","tag-zoltan-poszar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62198","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=62198"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62198\/revisions"}],"predecessor-version":[{"id":62199,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62198\/revisions\/62199"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}