{"id":64221,"date":"2022-11-25T06:47:14","date_gmt":"2022-11-25T11:47:14","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64221"},"modified":"2022-11-25T06:47:14","modified_gmt":"2022-11-25T11:47:14","slug":"golds-climb-amidst-wisdoms-decline","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64221","title":{"rendered":"Gold\u2019s Climb Amidst Wisdom\u2019s Decline"},"content":{"rendered":"
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Gold\u2019s Climb Amidst Wisdom\u2019s Decline<\/strong><\/a><\/h3>\n<\/header>\n
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As the latest headlines from the FTX implosion remind us yet again of a politicized and rigged market riddled with deception, gold\u2019s climb becomes easier to foresee.<\/p>\n

But first, a little philosophical musing\u2026<\/p>\n

Modern Policy: High Office, Low Wisdom<\/strong><\/p>\n

I have often referred to La Rochefoucauld\u2019s maxim asserting the highest offices are rarely, if ever, held by the highest minds.<\/p>\n

Nowhere has this been more apparent than among the halls of the physically impressive yet intellectually vacant Eccles Building on\u00a0Constitution<\/em>\u00a0Ave in Washington DC, where a long string of Fed Chairs have been\u00a0un-constitutionally<\/em>\u00a0distorting free market price discovery for over a century.<\/p>\n

The media-ignored levels of\u00a0open fraud<\/strong><\/a>\u00a0and\u00a0inflationary currency debasement<\/strong><\/a>\u00a0which passes daily for monetary policy (namely monetizing trillions of sovereign debt with trillions of mouse-clicked Dollars) within the FOMC would be comical if not otherwise so tragic in its\u00a0crippling ripple effect<\/strong><\/a>\u00a0to the Main Street citizen.<\/p>\n

From Greenspan to Powell, we have witnessed\u00a0example after example<\/strong><\/a>\u00a0of\u00a0error after error<\/strong><\/a>\u00a0and\u00a0gaffe after gaffe<\/strong><\/a>on everything from\u00a0mis-defining inflation narratives<\/strong><\/a>\u00a0as \u201ctransitory\u201d to\u00a0re-defining a \u201crecession<\/strong>\u201d<\/a>\u00a0as non-recessionary.<\/p>\n

And all this while the Fed (and its creative writing team at the BLS) simultaneously and deliberately fudges the math on everything from\u00a0misreported CPI<\/strong><\/a>\u00a0data to\u00a0artificial U6 employment statistics<\/strong>.<\/a><\/p>\n

Pondering the Philosophically Nobel Amidst the Administratively Dishonest<\/strong><\/p>\n

To any who have pondered the philosophical pathways (as well as elusive definition) of wisdom (from the ancient Greeks to the pre- and post-modern Europeans, romantic Emersonians, tortured Russians or enlightened Confucians), one common trait of wisdom through time, culture and language is the ability to admit, and then learn from, error\u2013as any man\u2019s journey is one riddled with countless opportunities for teachable error.<\/p>\n

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

Gold\u2019s Climb Amidst Wisdom\u2019s Decline As the latest headlines from the FTX implosion remind us yet again of a politicized and rigged market riddled with deception, gold\u2019s climb becomes easier to foresee. But first, a little philosophical musing\u2026 Modern Policy: High Office, Low Wisdom I have often referred to La Rochefoucauld\u2019s maxim asserting the highest […]<\/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":[124,5059,303,309,18507,31019,647,3650],"class_list":["post-64221","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-currency-debasement","tag-fed","tag-fiat-currency","tag-gold-switzerland","tag-matthew-piepenburg","tag-precious-metals","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64221","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=64221"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64221\/revisions"}],"predecessor-version":[{"id":64222,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64221\/revisions\/64222"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}