Cronyism in the 21st Century
This article originally appeared in The Dollar Vigilante and was soon after run on ZeroHedge.
Gandhi was once asked, “What do you think about Western Civilization?” to which he famously replied “I think it’s a good idea.” He may as well have been talking about free market capitalism.
Capital in the 21st Century has hit the world like a new teen idol sensation.…
Read MoreThe grotesque side-effects of years-upon-years of ZIRP are beginning to peek out from under the proverbial carpet that policy makers and apologists have continually swept them.
The easiest way to think of present-day monetary policy is as a coordinated centrally planned effort to suspend consequences by edict in a profound King Canute episode of economic folly.…
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The ongoing destruction of US Dollar Purchasing Power has now been relegated “myth” status.
Joe Weisenthal over at Business Insider has gleefully seized on some guy’s tweet, gushing:
… Read MoreYou’ve probably heard the line about how inflation has destroyed 90% of the dollar’s value over the last several decades.
This is the third article in my introductory exploration of Bitcoin here on Wealth.net. Part 1 and Part 2 were written in the wake of the big Bitcrash and it is interesting to observe that rather than “going to zero” as many prognosticators predicted, Bitcoin seems to have (kind of) stabilized somewhere north of 1 BTC => 100 USD
I said at the end of Part 2 that “Bitcoin is different” and today we’re going to talk about why.…
Read MoreAfter a parabolic rise that can only be described as “meteoric”, in a matter of hours today, Bitcoin crashed and lost somewhere between 40% and 60% of it’s value. The crypto-currency settled somewhere in the Btc160/USD range, cutting it’s gains since it’s 2009 launch to a meager 21,104% and returning it to levels not seen since …last week.…