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Showing posts with label fiat money. Show all posts
Showing posts with label fiat money. Show all posts

Monday, May 27, 2013

Gold And The Fiat End-Game


The Fiat End Game: Preparing For A Way Forward, is a our latest micro-documentary focused on solutions to our current economic problems. Our current fiat currency standard is terminal, nations around the world are dropping the U.S. dollar as a medium of exchange, central banks are buying gold, and Americans are seeing price inflation during an economic downturn. In order to avoid a systemic financial crisis here in the U.S., we need to focus on solutions. Please watch this important video and join us in a new financial awakening happening right now all across America.

Friday, April 26, 2013

Is It Time To Sell Your Gold?

by Bill Bonner

Dear readers ask about gold. Is it time to sell? To buy? To forget about it?
Gold fell $25 yesterday; it now stands at $1,575 per ounce. The gold price could break all the way down to $1,000. But we don't expect it. Gold is not in a bubble.
As you have seen, gold is neither overpriced nor underpriced. It buys about what it should buy. Maybe a little less. Maybe a little more.
How do we know what gold "should" buy?
We don't, really. But gold is a natural thing. It is pulled from the earth by people, using the technology and resources available to them. As their productivity in other areas goes up, so does – generally – their ability to extract gold from the ground.

Sunday, April 7, 2013

Banking and the State


“It had come to be accepted that the pigs, who were manifestly cleverer than the other animals, should decide all questions of farm policy, though their decisions had to be ratified by a majority vote.”
Orwell, G. (1989 [1945]), Animal Farm, S. 34.

The Starting Point: Civilization Begins

The founder of the Medici banking dynasty, Giovanni di Bicci de' Medici (1360–1429), said to his children on his death bed: “Stay out of the public eye.”[1] His words raise the question, "How much do bankers know about the truth of modern money and banking?"
To develop a meaningful answer to this question in the tradition of the Austrian School of economics, one has to start right at the beginning, and that is with the process of civilization.
Civilization denotes the development through which man substitutes the state of the division of labor and specialization (that is, peaceful and productive cooperation) for the state of subsistence (that is, a violent hand-to-mouth existence).
In his magnum opus Human Action (1949), Ludwig von Mises (1881–1973) put forward a praxeological explanation of the process of civilization, which helps us understand the course of its evolution.[2]
To Mises, two factors are at the heart of the process of civilization: (1) There must be an inequality of wants and skills among people. This is a necessary condition for people to want to seek cooperation.

Sunday, March 10, 2013

Reversal of Fortune: Why the Power Elite Will Lose Power

by Gary North

Remnant Review
The best description of the reversal of fortune is Mary's Magnificat, recorded in the Gospel of Luke, chapter 1, verses 46-55. "He hath put down the mighty from their seats, and exalted them of low degree" (v. 52).
This was a fundamental theme in the Old Testament. We are told that those who hold their position by means of political power and corruption always lose their position. They are always overthrown. They look unbeatable. They are always defeated. The prophets of Israel came before kings and commoners with this message. Isaiah 1 is a good example. Isaiah even identified a major technique of the power elite: inflation. "Thy silver has become dross, thy wine mixed with water" (Isa 1:22).
The more things change, the more they stay the same.


What do I mean by the power elite? The phrase was coined by Leftist sociologist C. Wright Mills in 1956. His book remains a classic. Its main chapter is here. Liberal columnist Richard Rovere in 1956 called it the American Establishment. Conservatives refer to it as the Insiders or the Conspiracy. David Rothkopf, writing from inside, calls them the superclass. Sometimes they are called the PTB: the Powers that Be. I think conservative journalist and historian Otto Scott said it best: the behind-the-scenes fellows who are too clever by half.

The End of Honest Money

by Bill Bonner

You shall not crucify mankind upon a cross of gold.
~ William Jennings Bryan
The season of fasting is upon us. No more high living. It's time to cinch up our belts... to put on a gaunt face and a smug look. Alone among friends and associates, we will keep Lent.
So neglected is Lent that even Google has forgotten about it. When we searched for it, it proposed "lentil soup."
Lent is meant to rehearse the 40 days and nights that Jesus spent fasting in the desert before going public. We remember the lean days with prayer, meditation and self-denial. No alcohol will cross our lips from Ash Wednesday till Easter Sunday. (Except on Sundays. And saints' days. And national holidays. And days that begin the letter "T" or have a date that is a prime number.)
Yes, dear reader, we will be true to the church calendar, with a few emendations of our own.

Tuesday, March 5, 2013

Gold manipulation: The logical outcome of mainstream Economics

This is the first of three articles I will post on the suppression of gold. What drives me to write about the topic? I am tired of seeing endless proof of suppression (i.e. the typical take downs in the price at either 8:20am ET or at 10am-11am ET, with impressive predictability) and at the same time, it is unfair that anyone who voices this suppression be called a conspiracy theorist. Therefore, these three letters will give a rigorous theoretical support to the claim.
The first letter will show that, under mainstream economic theory, the suppression of the gold market is not a conspiracy theory, but a logical necessity, a logical outcome.From the publication of this letter onwards, the onus to prove the contrary will fall upon mainstream economists. The conspiracy theory will actually be the opposite: To claim that suppressing gold is not necessary.
The second letter will show how that suppression takes place. For those familiar with the gold market, this letter will offer nothing new and perhaps, it will even be incomplete. But at the macro level, I will seek to offer an insight.
The third letter will examine the consequences of this suppression and rigorously, prove that the claim of the gold bugs, namely that physical gold will trade at a premium over fiat gold or gold paper is also not a conspiracy theory, but the logical outcome of the current paradigm.
Before I begin, I would like to say that I think proving the logical implication from mainstream economics that gold needs to be suppressed is perhaps comparable to Von Mises demonstration of the impossibility of economic calculation under socialism. Both are very intuitive, of consequence, and a necessary intellectual step. Without further ado, let’s start with the first thesis: The suppression of gold is a logical necessity, under mainstream economics.

Friday, February 22, 2013

Research Shows ALL Fiat Paper Money Systems Eventually Fail

By GoldSilverWorlds

We often read or hear quotes like “paper money eventually fail” and “paper money always returns to its intrinsic value which is zero.” In this article, we provide evidence why these statements are true, backed by research in which 599 different forms of paper money have been analyzed. We explain in an easy to understand way what money fundamentally is, how monetary policies of governments are affecting everyone of us and how gold is first and foremost an alternative form of money (for each and every one of us, not only for an elite). Courtesy of Vince Cate for the incredibly valuable research and David Morgan who referred us to the research materials.

Gold analysts argue that gold is the only form of real money, as it is the only tangible form of money that has survived 5,000 years of monetary history. Against that background, a critical event has taken place on August 15th 1971: former US President Nixon “closed the gold window.” He announced the decision to give up the Bretton Woods agreement (click to see the original version of his speech). What seems to most people a political decision is in reality affecting everyone of us in a way only a minority of people can understand. In fact, it’s touching our lives today more than ever.