Bitcoin’s rally is all the news. It’s got the gold bugs all aTwitter as they watch their preferred safe haven asset of choice get upstaged again and again by the upstart, Bitcoin. Every day it seems like another establishment media organization goes out of its way to give Bitcoin haters like one-note Peter Schiff an…
A considered reflection of current events leads to only one conclusion, and that is accelerating inflation of the dollar’s money supply is firmly on the path to destroying the dollar’s purchasing power – completely. This article looks at the theoretical and empirical evidence from previous fiat money collapses in order to impart the knowledge necessary…
This is the second part of an article. Part one is available here. Historically, gold emerged as the money commodity. Over the past century and more, fiat money issued by the state has come to replace gold in the daily functioning of the capitalist economy, and above all its financial and credit system, particularly following…
This is the first part of a two-part article. Throughout the history of capitalism and its recurrent crises, various theories have been brought forward by “left” theorists who maintain that these crises and the social ills they generate can be ameliorated, if not entirely eliminated, by changing the monetary system without touching the foundations of…
Back in August I penned a post called, “The Battle of the ‘Flations Has Begun.” With an historic 2000 point drop in the Dow Jones Industrials on Monday in response to Saudi Arabia and Russia declaring an oil price war on, well, everyone it’s clear that one of the two ‘flations, deflation, has won out….
I continue to wonder who Bank of Russia President Elvira Nabuillina works for. Seriously. On Friday, in response to solid growth in Russian economic statistics over the past few months, Nabuillina again raised interest rates 0.25%. She still adheres to idiotic IMF-style ‘inflation targeting’ dogma. Price inflation in Russia finally got off the roughly 2.5%…
