Dedicated to State Treasurer Dean Martin

In a time of universal deceit, telling the truth is a revolutionary act. [just ask the Ministry for the Security of the Homeland]

Perhaps this is the reason we’ve seen such a rush to create a global monetary system?  To keep the scheme standing, the base of the pyramid must be expanded.  Could this be why so many people around the world hate the IMF and the World Bank?  Might this explain that cryptic inscription on Andrew Jackson’s gravestone, “I killed the bank”?

Could be… oh, and why Dean Martin?  We know each other and, well, I like him.  I think he’d appreciate this piece.


Comments

  1. Mike Norton says

    Here’s the problem with his theory, and I don’t disagree with his description of what is currently happening, money is now solely based on our perceived value. This creates the business cycle and all the ups and downs that go with it.

    That said, even if we see a total collapse of the dollar (which is doubtful now) it is unlikely that their will be chaos or war to resolve the issue. You’ll remember that Germany (who lost the war he claims was created to resolve what Friedman would have called “money mischief”) found new currencies very quickly and even resorted to trading American cigarettes when they lacked confidence in their money for a short while.

    In the end, it is perceived value of money that determines it’s worth. It is a horribly flawed system, but at best it is only inefficient and not catastrophic.

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