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Tag Archives: gold

There’s a new cryptocurrency coming, and it’s backed by gold

A couple of years ago I spent an evening talking economics and entrepreneurship with the developer of the new gold backed cryptocurrency The Business Insider reports on below.

I’ll say this. Anthem is darn sharp and I love that he has named his currency the Hayek. He told me about this venture when we met and I am pleased to see that his dream has become reality.

A gold backed virtual currency is just smart.

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A desperate socialist Venezuela pawns its gold to Citibank

All the paper bugs out there can say whatever they want. Gold is a “barbaric relic.” It’s just a yellow rock. Yet, when the dung hits the fan, it’s the gold which gets sold. (Or in this case pawned.) As true for the degenerate gambler in Atlantic City as it is for the degenerate politicos in in Venezuela.

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Townhall: Libertarians Outnumber Both Liberals and Conservatives

Many of our readers are probably aware that Townhall Finance regularly features our work. John Ransom, the editor there does an excellent job and we encourage everyone to check out the site if you have not visited. It’s a very good mix of free market thinkers from different schools. Though it is generally not “libertarian.”

That is why I was particularly pleased to see this article in Townhall. A new and broad political disposition is clearly emerging. Though many longstanding libertarians would probably take issue with some of the people calling themselves “libertarians” these days, what we see is clearly progress. In the face of a very activist government (going back long before Obama) and a renaissance of constitutional understanding (largely facilitated by the Internet) more and more people are actually embracing the concept of “live and let live.”

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Another Oligarch Preaches to the Peasants – Charlie Munger Says “Prepare for Harder World”

I’m not a fan of Charlie Munger, Warren Buffett’s right hand man. I haven’t been a fan for a long time but this statement back in 2012 really annoyed me.

Such arrogance. I’m sorry Mr. Munger but not all of us get to drink from the Fed’s fire hose of easy money. For many of us gold is a last resort. Not an investment per se, but a hedge against guys like you. Of course you know that and that’s why you said what you said.

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When FDR made gold illegal to own for everyday people – At the point of a gun (A short video)

FDR, the man who studied Mussolini, who birthed the current intrusive state, who started the drug war in earnest, who put Japanese Americans into concentration camps, who extended the Depression years longer than it needed to be and thereby contributed to the genesis of the Second World War, who tried to pack the Supreme Court, who gave away half of Europe to the Soviets at Yalta,  and who confiscated the gold – the real wealth – of the American people.

What a guy. And he still has his face on the dime.

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Gold “Terrifies” the International Monetary System

Indeed it does. Gold is a little bit of power you can put in your pocket. It is a direct and ongoing challenge to the current system of fiatism. (And by extension crony capitalism.) Central Banks can’t print gold. Gold limits the power of the Fed and its brethren. Gold limits the power of the banks which suckle at the teat of central banks. Gold limits the power of governments to indebt their peoples. Gold limits the ability of governments to wage war.

Gold encourages discipline.

Is it any wonder why gold is often called God’s money and why some people despise it so?

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Big Banks fear Swiss citizens will vote to reback their money with gold

The big banks and governments don’t want the Swiss people to reback their money 20% with gold. What does that tell you?

Gold is real money. Paper is not. Gold doesn’t rise and fall in price (generally). Paper becomes more or less valuable relative to gold. This concept is lost on the general public. It is not lost on the bankers and the folks in government.

The establishment fears gold money. It reins in their power. Thus the reason they fight gold so ardently and why they are fighting it online and in newspapers today.

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