I vaguely remember an anecdote attributed to the wisdom of “Honest Abe” Lincoln. It went something like this:
“Suppose you have five horses, and we agree to call a horse a cow; how many cows would you have? Answer: “Well, I would have five cows.”
“Wrong! Because calling a horse a cow does not make it a cow!”
I thought I’d mention this, because it has something to do with this short article. Continue reading
Most people who have undertaken a formal study of economics end up accepting such things as the necessity of a central bank to prevent or at least ameliorate recessions. They take as a given the need for government intervention in the economy, or if not as a given, as explained by countless historical incidents of injustice. Perhaps most of all, they regard anyone calling for an unregulated gold coin standard as so hopelessly backward and naive that refutation becomes a matter of rolling one’s eyes. Continue reading
The history of gold is nearly as long as the history of human civilisation. Gold has been inextricably linked to human civilisations since at least 6000 BC. There is absolutely no way of looking at the history of the world without encountering the history of gold. Continue reading
So there is a lot of buzz that the Federal Reserve is about to cut interest rates – and it might actually happen. We’ll see. But if it does happen, it will directly contradict the carefully crafted narrative about the economy that the Federal Reserve has been perpetuating all this time. Fed Chair Jerome Powell has repeatedly insisted that the U.S. economy is in great shape even when there has been a tremendous amount of evidence indicating otherwise. And of course President Trump has been repeatedly telling us that this is “the greatest economy in the history of our country”, but now he is loudly calling for the Federal Reserve to cut interest rates as well. Something doesn’t seem to add up here. Continue reading
Big Companies All Over America Are Reporting Disastrous Financial Results
If the U.S. economy really was “booming”, then corporate earnings would be rising. But that isn’t happening. In fact, we haven’t seen corporate earnings fall like this since the last recession. They fell during the first quarter of this year, and based on the results we have so far, it appears that corporate earnings will be down substantially once again in the second quarter. When corporate earnings drop for two quarters in a row, that is officially considered to be an “earnings recession”, and that normally occurs just before the overall economy plunges into recession territory. As things get tighter for our corporate giants, we should expect a lot more layoffs in the months ahead, and the unemployment rate should rise quite briskly. In other words, it looks like our economic problems are about to accelerate substantially. Continue reading
Honest money is a widely-accepted medium of exchange that arises solely from voluntary market exchanges and maintains its value solely from voluntary market exchanges. People once settled on gold and silver coins as their preferred money, but we have long since been prohibited from using them. An employer who pays his employees by mutual consent in gold or silver coins is subject to prosecution from the guilty-until-proven-innocent IRS.
It would take a powerful criminal organization to prevent a nation of 320 million people from exercising their freedom to choose their own money, but that’s what has happened. Ironically, most people don’t consider this organization as criminal at all, but rather as necessary for the preservation and growth of civilization. Continue reading
Bitcoin is nothing more than a distraction, created to direct widespread public worry away from concern about the eventual collapse of the Dollar’s value.
What entity would wish to distract investors’ attention away from concerns with the Dollar?
Obviously, the US Government. Continue reading