Thursday The economy of the EU is in big trouble. ECB president, Mario Draghi, has suggested that he is going even deeper into negative interest rate territory in the effort to spur growth. The only growth in the EU is in migrants – migrants who don’t work but who immediately go onto welfare. Most with zero plans to ever get off welfare. Needless to say, … [Read more...]
Social Collapse
Wednesday Society evolved from tribalism. The process was simple, though unique to one place and time. Basic trading between tribes had always occurred. It was the emergence of money, with its unique property of being a store of stable value over time, which took trading to a much more sophisticated and complex level by allowing for the accumulation of … [Read more...]
China and the Clash of Civilizations
Saturday The absence of circulating money and the imposition of debt notes in its stead, has ramification across the span of society. The most pernicious is probably war. China is a centrally planned economy. Pockets of relatively free market activity exist, but not many. Because it is a centrally planned economy, it can be known that it will fail. We just need to … [Read more...]
Wealth Inequality
Sunday Take away the ability to trade freely and what appears in its place is corruption. The more regulations, the more pervasive the corruption. When buying and selling are controlled by legislation the first things to be bought and sold are legislators. P. J. O’Rourke Today, the economies of the Western world are burdened with regulations sufficient to break the … [Read more...]
Arse About Face
Sunday Buying Gold is really selling dollars. If there is fear of economic collapse or war or some other social danger, people sell their currencies for money. Why? Because money is forever. In such circumstances, and for as long as people inhabit this world (or any other), they will always choose Gold. Gold is the one and only money. Even when the theory cannot be … [Read more...]