An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Wednesday, July 22, 2020
Deutsche Bank's Top Credit Strategist Makes Stunning Admission: "I Am A Gold Bug; Fiat Money Is A Passing Fad In The History Of Money" — Tyler Durden
Meanwhile, gold standard advocate Judy Shelton's confirmation to the Fed is advancing in the Senate.
As long as we cling to an obsolete, inherently crooked Gold Standard banking model there's always the danger of a return to the obsolete, inherently crooked Gold Standard itself.
Hate to break the news to you but Israel was directed by God to use the silver standard... shekel was to be based on cuppeled silver balanced to equivalent of a seah of dried grain....
“ And I bought the field of Hanameel my uncle's son, that was in Anathoth, and weighed him the money, even seventeen shekels of silver. And I subscribed the evidence, and sealed it, and took witnesses, and weighed him the money in the balances." (Jeremiah 32:6-10)”
And He said to them, “Whose likeness and inscription is this?” They said to Him, “Caesar’s.” Then He said to them, “Then render to Caesar the things that are Caesar’s; and to God the things that are God’s.” Matthew 22:20-21
What I advocate for is ethical and needlessly expensive fiat is not ethical.
Precious metals are an obsolete (and thus needlessly expensive) anti-counterfeiting device.
They are also a stupid means to limit increases in the SUPPLY of fiat but note that the DEMAND for fiat is unjustly suppressed in that citizens may not use it in account form but only in the form of grubby CB Notes and coins.
What's truly pathetic is when "Progressives" show sympathy for a return to the Gold Standard rather than for moving on to a truly ethical money system.
Might have grown up in Weimar Germany and now has PTSD from it.... can’t think...
ReplyDeleteHe can pass his fiat on to me.
ReplyDeleteAs long as we cling to an obsolete, inherently crooked Gold Standard banking model there's always the danger of a return to the obsolete, inherently crooked Gold Standard itself.
ReplyDeleteHate to break the news to you but Israel was directed by God to use the silver standard... shekel was to be based on cuppeled silver balanced to equivalent of a seah of dried grain....
ReplyDeleteYou should be advocating for a silver standard...
Here:
ReplyDelete“ And I bought the field of Hanameel my uncle's son, that was in Anathoth, and weighed him the money, even seventeen shekels of silver. And I subscribed the evidence, and sealed it, and took witnesses, and weighed him the money in the balances." (Jeremiah 32:6-10)”
Uh oh!!!!!
And He said to them, “Whose likeness and inscription is this?” They said to Him, “Caesar’s.” Then He said to them, “Then render to Caesar the things that are Caesar’s; and to God the things that are God’s.” Matthew 22:20-21
ReplyDelete"You should be advocating for a silver standard..."
ReplyDeleteYou mean Sterling. ;-)
What I advocate for is ethical and needlessly expensive fiat is not ethical.
ReplyDeletePrecious metals are an obsolete (and thus needlessly expensive) anti-counterfeiting device.
They are also a stupid means to limit increases in the SUPPLY of fiat but note that the DEMAND for fiat is unjustly suppressed in that citizens may not use it in account form but only in the form of grubby CB Notes and coins.
What's truly pathetic is when "Progressives" show sympathy for a return to the Gold Standard rather than for moving on to a truly ethical money system.
I am a bug.
ReplyDelete