Category: Money Matters
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Bad Economic Reasoning about the National Debt
Written in December, 2012. ………………………. When I study the writings of professional economists I often have to shake my shaggy philosopher's head. Try this passage on for size: $16 trillion is the amount of Treasury debt outstanding at the moment. [It is around 36 trillion now.] The more relevant figure is the amount of debt the…
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April 15th: “Render unto Caesar . . . .”
Did you settle accounts with the Infernal Revenue 'Service'? If yes, then celebrate with The Beatles, Harrison and Clapton, and Tom Petty. No, I am not opposed to paying taxes. I am not anti-tax any more than I am anti-government. We need government, and we need to fund it somehow. It does not follow, however, that there must…
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Nancy Pelosi in 1996: A Pre-Trumper on Tariffs
You have probably seen this by now, but in case you haven't, here is Nancy Pelosi in 1996 talking sense! I didn't think she had it in her, given the inanities she has been spouting for the last quarter century. I don't see much if any difference between what she said then about tariffs, trade…
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Money: Competing Views
Joan Baez, Satisfied Mind Barrett Strong, Money
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Why are People So Easy to Swindle?
My Substack answer here. A very short read. Not a plenary analysis. I can't say everything in a few paragraphs. Hence, no TLDR excuse accepted. The 'advance fee' scam is one of the oldest in the book. Read about a recent victim in this Telegraph piece.
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Move Over IRS: Make Way for the External Revenue Service
I kid you not. Donald J. Trump @realDonaldTrump For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS). Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves. It is time for that to change.…
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The Mighty Tetrad
Money, power, sex, and recognition form the Mighty Tetrad of human motivators, the chief goads to action here below. But none of the four is evil or the root of all evil. People thoughtlessly and falsely repeat, time and again, that money is the root of all evil. Why not say that about power, sex,…
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Success is the Best Revenge
Bill Ackman on Elon-liberated X: The business community is giddy with excitement about the @realDonaldTrump administration. I am hearing this from everyone, including from people who didn’t vote for Trump. Business confidence is a self-fulfilling prophecy. Business leaders are becoming more confident about the country and the economy. This means they will be making more investments…
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Gold
Spot at the moment sits at 2709 USD/oz. It will go up no matter who wins on the 5th, more with Kamala. Wait for a dip to buy? Buy now. You should have been buying steadily all along. But think for yourself and keep your own counsel. That's part of what I am trying to…
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Central Bank Digital Currency
It is already upon us. Fifty Shades of Central Bank Tyranny. In this article, I will define what a Central Bank Digital Currency is by exploring its major categories. I’ll demonstrate that the US already operates with a form of CBDC, albeit without the flashy labels. I will also show that the Federal Reserve (the…
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Gold Will Surge Should Kamala Win
So buy more now to cushion the shock later, should disaster strike. Gold to $10K/oz under Harris admin. Update (9/22). Spot is now $2621/oz as of 12:10 NY time. Kamala or no Kamala it will most likely trend upwards. "When we have gold we are in fear; when we have none we are in danger." An…
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U. S. Treasuries Still a Safe Haven?
Argument contra. Excerpt: Even though the U.S. government’s debt-fueled spending response began as a national emergency under former President Trump, excessive spending continued under the Biden-Harris administration. It continued long after the emergency faded and continues today. By continuing it, the Biden-Harris administration squandered the opportunity to refill the U.S. government’s credit reservoir to restore…
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The Case Against Investing in Cryptocurrencies
Here
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When we have gold we are in fear . . .
. . . when we have none we are in danger. (English proverb) A proverb whose pertinence is proven by recent developments. Gold hit 2400 USD/oz. a day or two ago, but has backed off some. Joe Biden and his shills lie their heads off about everything including the health of the economy, but, with respect to…
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Skeptical and Credulous
Remember Bernie Madoff? A Substack retrospect.