Twittering to Death
Posterity's Debt To Me
Coping with Deflation
FDR & History
Lead us not
What Fools, We Mortals
My Immigrant Relative
The Eloquent Pogo
EMAIL US HERE:
A blast of hyperinflation then a
A Swiss banker makes a gloomy forecast.
that these three central banks hold will be totally worthless in the next
5-7 years. But before that their balance sheets will expand exponentially
in a final Keynesian attempt to save the global financial system from
total implosion. This will lead to a short period of hyperinflation before
the deflationary implosion of the system. Because you cannot solve a
problem using the same method that created it in the first place, this
will be the necessary total eradication of all debt. But it is not only
debt that will disappear, most of the assets financed by this debt will
also decline dramatically in value, leading to a massive destruction of
wealth.." Egon von Greyerz
c Mr. von
Greyerz is a gold bug, believing that gold-in-hand represents actual
wealth while paper currency in one's pocket is not wealth but merely a
CLAIM on wealth. History is on his side in forefasting the eventual
fate of debt based currency.
So why are
we posting links to a gloom-and-doom report? Because the more one
learns about the dangers of the feeble modern monetary system the politicians and
bankers have erected the better one can prepare for the likely economic
It's Thursday, the last day of the Democrat Party convention.
As is our custom we haven't paid much attention to any of it, just as we
ignored the Republican gathering last week. Our personal feelings
prompt us to run in the opposite direction of the leftist course the
Democrats support. On the other hand, we're not attracted to the GOP
offerings, either. We're in a quandary.
|| "The truth is that
when the emails that are leaked in the age of the Internet are
America’s wartime secrets, such as battlefield secrets in a time
when our troops are engaged in combat with a savage foe, the left is
all too eager to work with the leakers and characterize them as 'whistleblowers.' But when the messages being leaked include
internal email traffic of the Democrats themselves, wires that show
them maneuvering against Senator Sanders in a ghastly way, the
Democrats are suddenly up in arms. Mr. Trump seems to have figured
out the petard on which the Democrats have hoisted
themselves." NY SUN
From what we can observe we're not
Haunted by a murdered priest.
We can't get the
throat-slitting of a village priest in a church in France out of our
mind. We awoke to the news of this atrocity yesterday and thought
the elderly priest had been beheaded in front of his congregation by
Islamist cuthroats, but later heard they had done the fearsome deed after forcing
him to kneel and listen to Arabic incantations.
So, an old country priest has been slaughtered in Normandy, France, and
popular journalists in the U.S. are too busy covering and commenting on the
Philadelphia political convention to give much public attention to this
latest horror by thugs pledged to the Islamic State.
A Wall Street editorial today suggests the proper response to the Islamist
State is to go on a swift and decisive offense beginning with the
eradication of its strongholds in Syria, Iraq and Libya. The Journal
contends French President Hollande may have declared war on Islamic State
but "so far the fight has been more symbolic than
IS is pledged to overrun the western world its brutal mix of religion and
politics. The clash between our own justice system and sharia law
alone would be a horror
There's not much point in sticking our necks out in hopes maniacal
jihadists will peacefully dismiss the ideological differences and put
their razor sharp Damascus blades away. One's head can be separated from
one's body in an instant.
BILL BONNER, THE ROGUE ECONOMIST,
CAUGHT OUR ATTENTION WITH THIS:
When you start thinking about what money
is and how it works, you face isolation, shunning, and
The subject is so slippery – like a bead of mercury on a
granite countertop – you become frustrated and… then…
You begin talking to yourself, because no one else will
listen to you. If you are not careful, you may be locked up
among the criminally insane.
Duped and Distorted
We’ve been thinking about money for the last couple of
It has become our favorite subject. That is why people edge
away from us at parties. Our family finds novel ways to
change the subject.
“Whoa… sorry to interrupt, Dad… but isn’t that a
Undaunted… we press on. We think we’re onto something
important. We have come so far; we might as well go the
Economist George Gilder’s new book, The Scandal of Money,
came as an unexpected reinforcement. He has been thinking
about money, too. But he seemed fairly normal in Las Vegas
last week. No facial tics. No babbling or paranoid
Gilder has come to much the same conclusions from a
It is not real money. It only pretends to be. It has duped
the entire world… and distorted the entire global economy.
HOPEFULLY, MR. BONNER HAS YOUR
ATTENTION, TOO. READ THE REST AT THE
(Pass the link to friends)
Growing, at your expense.!
new money substitute, which we’ve lived with for 45 years, is a
fraud. A dollar in 1971 is worth about 17 cents today. In other
words, it has lost roughly 80% of its buying power. Had you been
counting on it to preserve the value of your work from the
previous decade, it robbed you of everything from 1960 to 1968.
The phony dollar has misled an entire generation into spending
money it didn’t really have… doubling or tripling its
debt-to-earnings ratio, and shifting more and more of its real
wealth to the least productive people – the Parasitocracy." Zero
The world is agog with presidential nomination politics at the
moment so this excellent article will probably get little notice.
It's mere an excellent piece that explains how the rich get richer
and you don't. It all has to do with the devilish problem of
irredeemable fiat currency, that totally unworkable measuring
stick of financial transactions over time. As it points out
- the dollar of 1971 now has purchasing power of about 18-cents.