Saving, consumption and investing are interconnected and coordinated via market prices, including interest rates. Saving is the basis for prosperity. No society has ever risen, nor could any society conceivably ever rise, out of poverty and into prosperity via consumption. It is saving and production that generate wealth. Paper Money Collapse
Given the current strong belief in the power of economic management by the state and the widespread scepticism toward the market and free-market money (i.e., gold), it appears extremely unlikely that such a course will be taken. Paper Money Collapse
That could happen. Democracy is a prerequisite to peace, but it can’t exist if the public are being systematically misinformed. Lies and democracy don’t mix together any more effectively than do oil and water. —– The problem in America isn’t either Obama or Trump; it’s neither merely the Democratic Party, nor merely the Republican Party; […]
The Fed is akin to Soviet-era central planners, and the net result is the same: capital is grossly misallocated, distortions are optimized to enrich the few at the top. Just as the collapse of the Soviet Union was baked in by the systemic fragilities of central planning, the Fed’s commandeering of the stock market bakes […]
It’s time to think independently about whether today’s centralized system really makes sense, if it is sustainable, and for how much longer. If the answers to these questions scare you, it is pointless to expect solutions to come from above. It is then time to act directly and responsibly, with a solid plan, hard physical […]
Language is one of the most important tools of the totalitarian state. If all citizens accept the lies that the ruling party imposes – if all records tell the same tale – then the lie passes into history and becomes truth. All that is needed is an unending series of victories over our own memory. […]
…. where you begin when you talk about a trend is key. Plucking an arbitrary date out of thin air doesn’t necessarily tell us a whole lot. It’s important to begin at a key moment in history. When it comes to gold, that key moment is August 15, 1971. That’s the day that Richard Nixon […]
We now have QE to infinity and beyond. On March 23, the Federal Reserve announced it will purchase an “unlimited” amount of US Treasuries and mortgage-backed securities. —– …. the federal government was running near-record deficits even before the coronavirus crisis. That’s about to blow through the roof. The reality is this credit crisis started long before […]
On Wednesday, Congress finally agreed on a government stimulus/bailout plan to battle the economic impacts of coronavirus to the tune of over $2 trillion. Meanwhile, the Federal Reserve has committed to monetize the debt with QE to infinity. Practically speaking, we’re talking about trillions of dollars being injected into the US economy – all of those […]
Even if the Federal Reserve wasn’t set to allow inflation to run hot, it targets 2% inflation as a matter of policy. In simple terms, the central bank intentionally devalues your money by 2% every single year. …. inflation has pernicious effects on the average person, while tremendously benefiting the chosen few. Polleit calls inflation an […]