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Monday, July 25, 2011

This is good perspective

From Mr Doom! at AoSHQ:

The biggest fallacy of the modern fiat-money age is that citizens and politicians alike think we can raise our “income” any time we want by printing currency. In effect, there is a belief that we can bring real-world wealth into being ex nihilo via the printing-press, or avoid insolvency by issuing yet more debt.

There's much more, in easy-to-understand language ... I jut pulled a juicy quote to tease you. RTWT.

Remember that Wall Street doesn't produce anything; their reason for being is to make money, essentially by gambling (remember Trading Places?). If that involves breaking the country in the process, oh well.

pm

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