Sunday All the power of fiat currencies devolve from Gold. If Gold’s stability of value had never been transformed, via coinage and bars, into a known weight and fineness – i.e., money – then we would still be trading by barter and living in primitive farming communities alongside rivers. Fiat is a deceit based on an ignorance of what money really is. Fiat money, and … [Read more...]
Eight Hours Sleep
Thursday About three months ago, with the doors of my restaurant shuttered by government edict and, accordingly, unable to pay rent, I was given three days to get out by the landlord. It was a grim time. It was hard to swallow that an iconic business with a thirty-six year track record of making money had suddenly, unexpectedly and inexplicably, moved into … [Read more...]
Early Retirement
Monday I see another report about a young couple that have surmounted the work trap and managed to retire by the age of forty. Well, actually, I didn’t read the article, but that is what I surmise from the headline. From the number of such headlines I would assume that it is an aspiration in the peculiar zeitgeist that passes as the modern world. Why would … [Read more...]
Debt Service
Wednesday Keith Weiner makes the interesting point that the dollar has value because, and only because, of the necessity to service debt. “The dollar does not have value because of some fragile, collective faith. The dollar has value because of the struggles of the debtors. What are you willing to sell, in order to avoid foreclosure on your house, repossession of your … [Read more...]
Real Businesses
Sunday A real business is either a response to an existing market demand, or a response to a predicted market demand. Both have the potential to create wealth. There is a third type of business. These are brought into existence in order to comply with, or avoid, regulations or taxes. Examples would be such things as tax accountants, bookkeepers, tax lawyers and … [Read more...]