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On Board Keynes Express to Ruin

March 26, 2019 By Philip Barton

Tuesday

by Dr. Keith Weiner…

“However, let’s move on to a group promotes a synthesis of central planning and gold. Their root economic error is to mistake redemption for purchase. Back in the days of the gold standard, one deposited a dollar’s worth of gold and had the right to redeem a dollar’s worth of gold. This was not a price. It was merely the standard for coins and bank deposits. It is akin to an Internet standard that says a certain kind of packet should be 512 bytes. It is not dictating the length of a message, just that longer messages must be broken up (for the sake of efficient handling by Internet routers).”

And…

“At some point the sepsis of this disease will matter. We are not merely saying “what goes up must come down” which is an expression of a malevolent universe premise. There is no economic law that says achievement must be undone, successful must lead to failure, production must turn to ruin. The economic law is that if you render destruction profitable, then sooner or later you hollow out too much of the capital on which your civilization depends.”

Read it all here.

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