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Our paint by the numbers central bankers have given the notion of being literalistic a bad name. For years they pumped money like mad all the while insisting that the bogus “lowflation” numbers were making them do it. Now with the lagging measures of inflation north of 5% and the leading edge above 10%, they have insisted loudly that it’s all “transitory”. Well, until today when Powell pulled a U-turn that would have made even Tricky Dick envious. That is, he simply declared “transitory” to be “inoperative”. Or in the context of the Watergate scandal of the time, “This is &...

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Als US-Präsident war Richard Nixon in den Einbruch in die Wahlkampfzentrale der Konkurrenz im Watergate-Gebäude verstrickt. 1974 trat er zurück. Der Schaden für das Amt war gewaltig – doch schon zuvor hatte „Tricky Dick“ stets polarisiert.

ALL AT SEA – Advertisement – Since I grew up aboard, it was always a given that someday I’d circumnavigate—but there was ‘many a slip between the cup and lip’ as they say. My first boat rotted faster than I could wood-butcher new planks and frames into her. It took me a while to build a new 36-foot ketch from scratch with empty pockets. Thus, I was in my mid-twenties in the late ‘70s before heading down to the Lesser Antilles for a brief shakedown cruise before shoving off on my first circ.  Luckily, in the Bahamas I met a cowboy bullrider from Texas named

The Dollar’s Final Crash Down a Golden Matterhorn So was Nixon actually the instigator of the movement to FreeGold? I doubt it. He was just another desperate leader who was running out of real money and needed to create unlimited amounts of fiat money. Although his fatal decision to close the gold window was clearly the beginning of the end of the current monetary system. But although the decision was fatal, Nixon was clearly not personally responsible. What the world saw in August 1971 was just another desperate leader who realised that he couldn’t stick to the monetary or fiscal discipl...