In these days of upheaval and transition it is more important than ever to have a clear understanding of what we are talking about. The opposition is very skilled in playing with language and creating holes in linguistic concepts, blurring our vision of reality. Read more…
The absurd tends to be tragicomical. Comical because of the shortsightedness involved, tragic because of the painful consequences of folly.
And nothing is more tragicomical than this whole sordid Credit Crunch business.
Please don’t be insulted if you are still falling for one or more of the absurdities below. We all have believed in all of them. Read more…
A lot has been said about the Euro’s problems, most with a purely economic view. It is clear that the imbalances that the Euro created in Europe are not sustainable. Germany and it’s satellites (Netherlands, Finland, Austria) are much more competitive than Club Med. This is no problem, but because of the Euro the latter group of nations cannot devalue their currencies. This results in trade deficits and net capital out flow to the North.
As a result the Euro cannot exist without a permanent bail out mechanic for the South. This is clearly not sustainable, from an economic point of view.
But economics are of lesser import here. Because the Euro was not created to build wealth, it is the Banker’s best bet for World Currency. To rule the world, one must rule Europe and World Currency is a key goal of the Globalists. Clearly, the Euro is their pet project. Read more…
Papandreou must be either suicidal or he must have a major trump up his sleeve. Of course, it is not unthinkable that the Greeks will vote for the EU package. The Irish had a chance to see ‘to hell with you’ not too long ago, but they succumbed to the fearmongers. Make believe is their game and still many people fall for the idea they are being ‘helped’……. Read more…
We can all agree on one thing: our money is at the heart of our problems. It is issued at interest by private banks and inflated and deflated and nowadays stagflated at will. It finances those it owns or wants to own and starves the rest. It has literally financed and bought the world as we know it today.
Everything we want, socially equitable relations, ecological sustainability, room for personal development, etc, will have to be financed and today’s money will not, and frankly, cannot do it.
Read more…
A Lord Wolfson has just created a one off prize for the best proposal to manage the exit of the euro.
This morning I submitted my, no doubt winning, contribution:
Inflation is very much on the minds of people today. With massive FED handouts to the banking system people fear prices will rise. Our current predicament is much worse, we’re suffering from stagflation, but inflation is an important part of that.
Like with all monetary matters, many half truths are presented as facts and downright lies as conventional wisdom. So let’s get to the bottom of inflation and see what a rational money system can do to prevent it.
The Greenback was the Dollar, or United States Note, printed by Abraham Lincoln’s Treasury to finance the Civil War.
It was a paper dollar, debt free and, therefore, also interest free. It was spent into circulation by the U.S. Treasury department beginning in 1862. Although modified many times through legislation, U.S. Notes were printed until 1971. Even today a minute number of Greenbacks are still in circulation.
Debt-free paper money was the basic design for most early government currencies as usury was heavily frowned upon. The Continental was similar, as was the paper printed by the Chinese Emperors. In this essay we will use the term Greenback to describe this basic model.
The Greenback is both much maligned and much admired.
How do we know this?
Consider a mortgage. We borrow $200k, and after 30 years we will have payed about $500k. So we pay $300 thousand dollars interest over the loan.
Why is Gold appreciating?
Many people would say that Gold and other precious metals are gaining momentum, as a hedge against inflation and economic/financial turmoil. Read more…