Sunday Those who claim that the paper in your wallet/purse is worthless, are exaggerating the case. As long as it can still be exchanged for goods, then it obviously is not worthless. Let’s look at what the real problems are. Paper ‘money’, widely known as fiat, has a value that is very unstable. A long-term graph will show clearly the decline in value of all fiats. I … [Read more...]
China Loses Face
Saturday The heightened tensions with North Korea raise puzzling questions about China. It seems quite unable to put any brakes on its neighbour’s belligerence. It cannot be because it does not want to, at least, reduce tensions, including the, by now, very real military threat to itself. The North Korean military comprises … [Read more...]