The authors at Whiskey & Gunpowder are good – very, very good. You ought to go there and subscribe to their daily newsletters. I do.
Warning: they do advertise their investment advise a lot. But it is quite likely very good advice, if you happen to have any real money lying around.
Anyway, the following three paragraphs have been sitting in my Inbox for a while as I tried to decide what to do with them. Finally I decided to publish them here. They are simply too good to toss in the bit bucket.
Anyway, I am frightened, fascinated and inspired to marshal any forces I may as I see the step-by-step progress of the central bankers towards a one-world currency. Yet these guys embrace the concept. I overlooked the details: Who owns the currency? What is its basis?
Gosh, I could embrace a one world currency. Let’s see if we can deflect the Bilderberg’s nefarious plans and give them ALMOST what they want.
By the way, they finally explained recently why the selected “Whiskey and Gunpowder” for their title. Major features of “The Whiskey Rebellion” and the Guy Fawkes and friends attempt to blow up Parliament for crimes against humanity were the inspirations.
— On to Whiskey & Gunpowder‘s essay —-
Watching the euro melt has been like watching a train wreck in slow motion. You knew it was coming. You know which cars on the train are next line to be mashed. There is nothing you can do to stop it. You can only watch as it happens, with one car after another compressing like a tin can, and all you can do is say, “I told you so,” the entire time.
The whole European currency scheme was both brilliant and crazy. It was brilliant because Europe should have a united currency. In fact, the whole world should have a united currency. Once upon a time, it did. It was called the gold standard. National currencies were just another name for the same core thing — a nationalist spin on a global consensus. If some country had waved around an unbacked piece of paper and called it money, no one would have taken it seriously.
And the gold standard was internally policing. If one country debauched the currency, gold would flow out, the thing would lose credibility and capital would flee to places that took sound finance seriously. Governments were restrained, the hands of politicians were tied (they could only spend what they could overtly steal) and markets ruled the day. The politicians hated it, but markets were free, stable and growing.