It is possible to know everything about a person by knowing the answer to just one question; What do you think of the French Revolution?   Elites throughout the world universally hail the French Revolution as the time when humanity - at long last - threw off the shackles of the past and advanced into the future, guided by nothing other than human reason.  Of course this

The journalist H.L.

In the last two blog posts, today's fiat money system has been discussed.  In a fiat money system, money has no intrinsic value.  In other words, the money itself is worth nothing.  Money only has value because a powerful government insists that the money has value, and that this money - which the government alone can issue - must be used in all transactions.  Of course, in

In last week's blog post it was argued that today's system of money and credit - which requires nothing of value to back the US dollar - is the cornerstone on which today's economic edifice of concentrated wealth and power is built.  As an example of this concentration of wealth and power - and its reliance on a fiat money system - the example of Warren Buffett 'suggesting' to Tr

In his most recent letter to Berkshire Hathaway shareholders, Warren Buffett used a variety of logical fallacies and enormous economic ignorance to disparage gold.  Buffet wrote,