{"id":63121,"date":"2022-07-23T06:53:54","date_gmt":"2022-07-23T11:53:54","guid":{"rendered":"https:\/\/olduvai.ca\/?p=63121"},"modified":"2022-07-23T06:53:54","modified_gmt":"2022-07-23T11:53:54","slug":"running-on-empty-part-v","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=63121","title":{"rendered":"Running on Empty, Part V"},"content":{"rendered":"<div class=\"post-header\">\n<h3 class=\"post-title short unpublished\"><a href=\"https:\/\/treeofwoe.substack.com\/p\/running-on-empty-part-v?utm_source=email\">Running on Empty, Part V<\/a><\/h3>\n<p class=\"subtitle\"><strong>When the Dollar is Broken, What Does One Do to Not Go Broke? (Guest Post)<\/strong><\/p>\n<div class=\"post-subheader meta-subheader\">\n<div class=\"left\">\n<div class=\"label-stack\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"visibility-check\"><a href=\"https:\/\/deepknowledgeinvesting.com\/author\/gb\/\" rel=\"\">Gary Brode<\/a>\u00a0of Deep Knowledge Investing was kind enough to share my series Running on Empty with his readers. This afternoon I\u2019ve invited him to offer his thoughts for my readers, focusing on the implications that Running on Empty has for investments in the years ahead. After you\u2019ve finished here, be sure to check out Gary\u2019s own\u00a0<a href=\"https:\/\/deepknowledgeinvesting.com\/\" rel=\"\">Deep Knowledge Investing<\/a>\u00a0for more insight.<\/div>\n<div class=\"\">\n<div class=\"available-content\">\n<div class=\"body markup\" dir=\"auto\">\n<div>\n<hr \/>\n<\/div>\n<p class=\"header-with-anchor-widget\"><strong>Overview<\/strong><\/p>\n<p>Contemplations on the Tree of Woe wrote Running on Empty, a three-part analysis of the petrodollar system that was so full of woe that it ran a full four parts.\u00a0 That\u2019s 33% more woe than had been promised.\u00a0 Because we thought the series represented the kind of deep-dive analysis that we admire, we asked the Tree if we could print Part I as a guest post. \u00a0You can find that piece along with links to parts II, III, and IV\u00a0<a href=\"https:\/\/deepknowledgeinvesting.com\/special-guest-post-how-the-petrodollar-system-restored-then-ruined-americas-economy\/\" rel=\"\">here<\/a>.<\/p>\n<p>Part I of the series explained the origins of the petrodollar system, and noted that it\u2019s the first reserve currency not backed by gold or other precious metals.\u00a0 We\u2019ve made similar comments about the disaster started when US banks in conjunction with the government created the Federal Reserve, and then took the US\u00a0<a href=\"https:\/\/deepknowledgeinvesting.com\/the-depth-report-bitcoin-2022-how-i-learned-to-stop-worrying-and-abandon-fiat-currency\/\" rel=\"\">off the gold standard<\/a>\u00a0in 1971.<\/p>\n<p>Part II of the series explained how the system enabled the Federal Reserve to print increasing amounts of currency and enabled Congress to run increasing deficits.\u00a0 Because the US could print dollars for free, we did so and sent them overseas in exchange for foreign goods.\u00a0 This hollowed out the manufacturing base of the US and led to a decline in living standards for many Americans at the same time that the people decrying inequality were pursuing policies that led to more of it.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Running on Empty, Part V When the Dollar is Broken, What Does One Do to Not Go Broke? (Guest Post) Gary Brode\u00a0of Deep Knowledge Investing was kind enough to share my series Running on Empty with his readers. This afternoon I\u2019ve invited him to offer his thoughts for my readers, focusing on the implications that [&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":[2,5],"tags":[33032,303,33031,4190,626,33030,33029,834,839,3650,5482],"class_list":["post-63121","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-deep-knowledge-investing","tag-fed","tag-gary-brode","tag-investing","tag-petrodollar","tag-running-on-empty","tag-tree-of-woe","tag-us","tag-us-dollar","tag-us-federal-reserve","tag-world-reserve-currency"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63121","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=63121"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63121\/revisions"}],"predecessor-version":[{"id":63122,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63121\/revisions\/63122"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}