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The Everything Bubble Just Burst
Maybe running ZIRP from 2008 to 2015 was not a good idea like some of us said. The FED has totally ruined the world economy and the world monetary system. FULL STOP.
Free money led to massive mis-investments and mal-investments.
Maybe running ZIRP from 2008 to 2015 was not a good idea like some of us said. The FED has totally ruined the world economy and the world monetary system. FULL STOP.
Free money led to massive mis-investments and mal-investments.
Some of us foresaw this and warned of this. Free money is an economic distortion that provides an apparent false short term gain in exchange for long term economic ruin.
It literally ruins society.
That is why sound money is such an important value in society.
It literally ruins society.
That is why sound money is such an important value in society.
It is important in terms of economics and human values. The Bible talked about "honest weights and measures". Fiat money is inherently dishonest. Imagine building a house with a flexible yard-stick for measurement. This is the essence of free money.
The pain we are all about to experience is going to be tremendous. No one will be unaffected. Even the 1% will have to live in the world many of them cheered on.
So, for starters let's make sure we clearly explain to our family and friends how and why this happened. We must
So, for starters let's make sure we clearly explain to our family and friends how and why this happened. We must
end the FED. We must return to a sound money system. This will become apparent as this crisis unfolds. Where do we go from here?
Well the FED has two choices. Either print enough money to reliquify the system to prevent all asset values from going to zero in the largest
Well the FED has two choices. Either print enough money to reliquify the system to prevent all asset values from going to zero in the largest
margin call in history. Or print too little money and allow a societal collapse on an epic scale. If, as I believe, they print, ultimately people will figure out that can not stop and that their actions will turn the dollar into monopoly money: hyperinflation
#Weimar. It is terribly sad, but not at all unpredictable. If we continue to listen to the people who brought this upon us we will not solve the problem. Let's solve the problem. We do not need a war. We will ultimately beat this virus. But, until we return to sound
money we will not be creating an enduring solution. Maybe someday we will even feel charitable enough to forgive the misguided people who did this to us. But for now they must be scorned, ignored and the car keys must be taken away from them. It is the only solution.
No more bubbles. No more Federal Reserve. Gold and Silver are money. The US Constitution says so for god's sake. Let's return to first principles. They served us well from 1789 to 1971. We all have a role to play. Spread the word. Sound money NOW.
@RudyHavenstein @judyshel @Halsrethink @LukeGromen @EpsilonTheory @chrismartenson @BernieSanders @ewarren @benbernanke @neelkashkari @RobSKaplan
