In a financial panic, printing money is a vaccine. If the vaccine proves ineffective, the only solution is quarantine. This means closing banks, exchanges, and money market funds, shutting down ATMs, and ordering assets managers not to sell securities.
Elites are preparing for a financial ice-nine with no vaccine. They will quarantine your money by locking it inside the financial system until the contagion subsides. The best known cases of elites’ freezing customer funds in recent years were the Cyprus banking crisis in 2012 and the Greek sovereign debt crisis in 2015. These crises […]
If you can say “yes” to all three of them, you have an idea that’s likely to do very well. If you can’t say “yes” to all of them, it’s time to go back to the drawing board.
One reason is as a dollar hedge. Russia is the second-largest energy producer in the world. Most of that energy is sold for dollars. Russia can hedge potential dollar inflation by buying gold. Another reason has to do with the avoidance of U.S. sanctions. Gold is nondigital and does not move through electronic payments systems, […]
Look at the world before capitalism. The medieval world was marked by unremitting famine, plague, and poverty.
If you wanted to have a midlife crisis, you would have been well advised to do so when you were fifteen: Half the population never saw thirty. In the few cities of the period, animal and human waste filled the streets, and vermin were everywhere. Drinking water was so filthy that most people drank beer […]
The goals people are fighting the feeling of discouragement at each turn — until they reach their goals if they ever do. The systems people are feeling good every time they apply their system. That’s a big difference in terms of maintaining your personal energy in the right direction. The system-versus-goals model can be applied […]
Hyperinflations are always caused by public budget deficits which are largely financed by money creation.
Also called monetization of debt or quantitative easing.