Yesterday I received my copy of Vincent R. Locascio’s “Special Priviledge: How the Monetary Elite Benefit…At Your Expense“. It was published in 2001 by the Foundation for the Advancement of Monetary Education (FAME) and I hope they don’t mind my quoting vast tracts of it here.
This book predates Locascio’s “The Monetary Elite vs. Gold’s Honest Discipline” by a few years. In May 2005, a copy of this latter book arrived out-of-the-blue to my attention at the easyDNS offices. The inside cover was signed “Mark, I look forward to your feedback” and signed by the author, and there was an additional note saying “I hope you can help spread the word to your readers”. He was under the erroneous assumption that my personal blog, (where I sometimes ranted about sound money and crony crapitalism), had readers.
I’m one of those people who underlines passages in books, highlights paragraphs and makes notes in the margins. His book was one of those books that was almost completely underlined by the time I finished it.
This morning I started reading “Special Privilege”, and it looks like the same thing will happen here.
My inaugural post on Wealth.net was a brief notice that John Mauldin’s forthcoming book “Eavesdropping on Millionaires: Secrets of the World’s Wealthiest Investors” had been postponed. As an afterthought I asked him via email for details and he responded personally that it had been pushed out. In my reply I gave a brief pitch for the newly-launched wealth.net and mentioned that if he was ever interested in an interview, we’d be happy to.
Half a year later I was suddenly cc-ed in an email to his assistant “Please schedule an interview with Mr. Jeftovic for April”. His latest book “Endgame: The End of the Debt Supercycle and how it changes Everything” had been released recently, and as it turned out I was halfway through reading it.
What follows is a transcript of a telephone interview I conducted with Mr. Mauldin on April 19, 2011. Read more…
Tags: debt supercycle, Endgame, John Mauldin, Millennial Wave
It is always refreshing to see Tim O’Reilly’s take on new media, especially with regard to the question of Digital Rights Management (DRM), in the latest Forbe’s he answers the question “Aren’t you worried about piracy?” Read more…
Tags: copyright, DRM, ebooks, Tim O'Reilly
There is a very old and tested adage that has long been applied to booms and busts brought on, as they will inevitably always be, by government tampering with money and credit. The adage goes as follows: “In the washout of the bust which always follows the boom, real wealth returns to its rightful owners.”
To understand this truism, and it IS a truism, it is necessary to understand the cause and effect involved. It is universally said, especially in classrooms which purport to teach “economics”, that the business or “boom and bust” cycle is inherent in any “capitalist” or “free market” economy. Not only is this untrue, it is the opposite of the truth. A “business cycle” in which the prosperity of entire nations ebb and flow on a regular basis is possible ONLY when the economy and in particular the money is controlled by government. The extent to which governments exercise such control “governs” the extent of the cycle. The reason that boom and bust is said to be “inherent” is because throughout history, government has ALWAYS (to a greater or lesser extent) controlled the economy. Without such control, there can be no such thing as government “power” because without it, the government cannot control the people. Read more…
I see this statement all over the place when I read stock market blogs, info products, etc. that the stock market is a “zero sum” game, that for every trade there is a winner and a loser. This certainly seems the case today, where all market participants are obsessed primarily with the price action of a stock over ever smaller time frames.
The stock market is traditionally held to represent the epitome of the “free market”, if this is the case, does the “zero-sum” model hold up? Is it rational?
Tags: zero sum
Martin Armstrong has been released into home custody pending his appeal, expected this September, 2011. He released this statement on his website on March 14, the day after he released his outlook for gold, which I haven’t had a chance to read yet (I’m traveling at the moment).
There have been a few reports of this in the blogosphere and in Business Week, and we expect BusinessInsider’s Joe Weisenthal to release a frantic “breaking news” item about it sometime next week or the week after.
Tags: gold, Joe Weisenthal, Martin Armstrong
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