Wednesday For all the glaring faults and failures of paper money, it is the more subtle effects that are the most damaging. The emphatic truth is that paper money only exists because of the desire of politicians to inflate the money supply in order to buy votes and to wage wars. There are no other reasons. The vote-buying passes under the innocuous title … [Read more...]
Return to Reality
Friday “Everything in the world may be endured, except continual prosperity.” Johann Wolfgang von Goethe The current under 40s are, generally speaking, the most dangerously effete and deluded generations in history. Is that because of the prosperity brought about by creating synthetic credit and circulating the debt notes in the guise of money? There is an … [Read more...]
A Spot of Bother
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...]
Migrants, Passports, Chaos and Gold
Tuesday Until WW1 (1914 - 1918 ), there were no passports. People could go wherever they wanted. All that they had to do was pack their bags and head off. History records no instances (that I could find) of Anglos or Europeans protesting the mass arrival of migrants. Apart from military invasions (and the Jewish people expelled from here, there and everywhere), there … [Read more...]
Capitalism Equals Wealth Creation – Socialism Equals Wealth Destruction
Monday Let’s not be too hard on the Venezuelan socialists. Yes, it’s been a disaster and has resulted in widespread hunger amongst the poor and untold deaths. But the people did originally vote for socialism, despite all the historical evidence for what would happen. Besides, Venezuela is a minor manifestation of the disease. From the national socialism of Hitler, Mao … [Read more...]