Articles related to Cayman Islands
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Get an Education - Jeff Thomas
Back in the ‘60’s, an interviewer asked the “King of Folk Music”, Bob Dylan what his goal in life was. Bob answered something to the effect of, “I want to make enough money to go to college, so one day I can be somebody.” Bob had a good sense of irony. And certainly, he was always more inclined to think outside the box than to follow the well-trodden path. That was part of what made him so interesting and part of what made him so successful. A similar sentiment was expressed in a song by hi
Saturday, January 6, 2018
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The Triumph of Collectivism - Jeff Thomas
The French Revolution began in 1789. Maximilien Robespierre was one of its most eager proponents. An extreme left-winger, he sought a totalitarian rule that claimed to be “for the people” (echoing the recently successful American revolution), but in reality was “for the rulers.” He in turn inspired Karl Marx, author of The Communist Manifesto. Both Robespierre and Marx had been well-born and well-educated, but rather spoiled and, as young adults, found that they had no particular talent
Thursday, November 9, 2017
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The Black Market: The Embryonic Free Market - Jeff Thomas
In my lifetime, I’ve witnessed five Cubas. Pre-Revolution, 1952-1958 In the 1950’s, the Cuban people suffered under great oppression from its military dictator, Fulgencio Batista. The great majority of Cubans at that time lived in fear and welcomed regime change. That change came from Fidel Castro and a small band of rebels in 1959. Although the rebels were poorly armed, poorly trained and were by no means expert military strategists, they had a distinct advantage: the Cuban people would g
Thursday, October 26, 2017
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Three Faces of Bitcoin - Jeff Thomas
Whenever we see an image of bitcoin, it’s not presented as a blockchain, as it should be, but as a gold coin, which it is clearly not. Why should this be? Well, many of bitcoin’s staunchest supporters are libertarians, who revile fiat currencies as being of no intrinsic value. And they’re correct. Fiat currencies do not pass the Aristotle test of being durable, divisible, portable and intrinsically valuable. They, unfortunately, fail badly on the last requirement. Unfortunately, so does bi
Wednesday, September 6, 2017
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The Dynamics of a Riot - Jeff Thomas
In my lifetime, I’ve had the misfortune of being present in two major natural disasters and one violent social crisis. Each taught me valuable lessons. In the aftermath of a natural disaster, there’s the danger of the loss of shelter, services and food. In most cases, people who experience the loss of shelter and services realise that “things are bad all around” and they tend to do the best they can, accepting that life will be hard for a period of time. Food is a different matter. People,
Monday, July 31, 2017
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An Empire Self-Destructs - Jeff Thomas
Empires are built through the creation or acquisition of wealth. The Roman Empire came about through the productivity of its people and its subsequent acquisition of wealth from those that it invaded. The Spanish Empire began with productivity and expanded through the use of its large armada of ships, looting the New World of its gold. The British Empire began through localized productivity and grew through its creation of colonies worldwide – colonies that it exploited, bringing the weal
Thursday, June 22, 2017
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For Every Action, There Is an Equal and Opposite Reaction - Jeff Thomas
Newton’s third law of motion has proven the test of time, since he first stated it in 1686. If we were to apply the same concept to political history, we might say, A nation that rises to a great height will fall to an equally great depth. At first glance that seems to be merely clever wordsmithing. However, historically, it does seem to play out exactly that way. Most countries tend to ebb and flow as to their prosperity, but those that rise to great heights, particularly those that rise t
Tuesday, June 6, 2017
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Raoul Pal Slams Bitcoin: “It’s Not The Store of Value People Thought It Was” - Peter Diekmeyer
Raoul Pal, one of the most effective critics of mainstream economics, is cashing in his Bitcoins. Gold is a better wealth preservation tool, says Real Vision Television’s co-founder. Yesterday Pal, who once thought that Bitcoins could eventually be worth as much as $1 million each, informed Real Vision Publications subscribers that he was selling the digital currency. “Bitcoin not a store of value people thought it was,” he told Sprott Money News, in a telephone interview this morning from
Tuesday, June 6, 2017
Graham Summer - Gains Pains & Capital
Raoul Pal Slams Bitcoin: “It’s Not The Store of Value People Thought It Was”
Interested in precious metals investing or storage? Contact usHERE Raoul Pal Slams Bitcoin: “It’s Not The Store of Value People Thought It Was” Written by Peter Diekmeyer (CLICK HERE FOR ORIGINAL) Raoul Pal, one of the most effective critics of mainstream economics, is cashing in his Bitcoins. Gold is a better wealth preservation tool, says Real Vision Television’s co-founder. Yesterday Pal, who once thought that Bitcoins could eventually be worth as much as $1 million each, informed
Monday, June 5, 2017
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  The Escape from Collectivism - Jeff Thomas 
Recently, I penned an article entitled, “A Chicken in Every Pot,” which described the reasons why countries that have delved into collectivism are likely to slide further down the slippery slope, once it’s addictive qualities have been introduced to the brain. Since then, I’ve received requests to address whether it’s ever possible to fully escape collectivism, once it has taken hold in a country. The short answer is “yes.” It’s always possible to kick an addiction, but it’s not easy nor w
Sunday, May 21, 2017
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Selling the Golden Goose - Jeff Thomas
Venezuela is a naturally rich nation. It's ranked seventh worldwide for biodiversity and has the world's largest reserves of oil. This is a country that deserves, more than most, to thrive. However, as in all countries, it passes through economic cycles and, when on a downward curve, would-be leaders take the opportunity to claim that the "greedy rich" have sent the economy into a tailspin (which can sometimes be the case) and that the solution is to adopt a collectivist approach to gover
Wednesday, April 26, 2017
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Creating Another "Crash of 1929" - Jeff Thomas 
"Regarding the Great Depression, … we did it. We’re very sorry. … We won’t do it again." - Ben Bernanke, November, 2002 "Waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the road - either too much inflation, financial instability, or both." - Janet Yellen, December, 2016 In his speech above, future Federal Reserve Chairman Ben Bernanke acknowledged that, by raising interest rates, the Fed triggered the stock market crash of 1929, which heralded in t
Monday, April 24, 2017
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The Candlemaker’s Petition - Jeff Thomas
French economist Frédéric Bastiat was a man far ahead of his time. He was a “classical liberal,” which, today, would identify him as a libertarian. He expanded upon the free-market argument set forth by Adam Smith in 1776. In 1845, the French government levied protective tariffs on scores of items, from sewing needles to locomotives. The intent was to protect French industries from companies outside France that could produce the goods more cheaply. The reaction from Mister Bastiat was to
Friday, April 7, 2017
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The Dancing Bears - Jeff Thomas
In the early 2000’s, I recommended to associates that we were in for a major gold boom. Most thought that this was a ridiculous suggestion and didn’t buy a single ounce. I continued to recommend the purchase of gold regularly over the ensuing years, and the price continued to rise. Only in 2011 did they start to buy, at a time when gold was peaking. We were due for a correction and in 2012, it arrived. For several years, the price has remained in the neighbourhood of $1200 - roughly the price
Monday, March 27, 2017
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The Sinking of the Lord Clive - Jeff Thomas
The image above is the 18th century home of friends in Colonia, Uruguay. Today, sitting on their back patio on the Rio de la Plata, I looked out at a small yellow buoy in the harbor that marks the final resting place of the Lord Clive, a large, 60-gun British warship from the 18 th century. In 1763, we British, already at war with Spain, decided to expand the venture to the New World. The Lord Clive arrived in Colonia, Uruguay and began firing into the tiny town. With her heavy contingent of ca
Sunday, March 5, 2017
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Fight of the Century - Jeff Thomas
In March 1933, The Enabling Act was passed by the Reichstag in Germany. Its purpose was to provide Chancellor Adolf Hitler with the ability to bypass the Reichstag. It allowed him (amongst other measures) emergency powers to legally wage pre-emptive war without any further parliamentary approval, or even discussion. In January 2017, H.J. Res 10 was introduced to the US House of Representatives. Its intent was simple and straightforward: “This joint resolution authorizes the President to use
Saturday, February 25, 2017
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Duesenberg in a Barn - Jeff Thomas
In 1929, Ford sold 1,507,132 cars. Chevrolet sold 1,328,605. Then came the stock market crash. Sales dropped dramatically each year until 1932, when sales bottomed at 210,824 for Ford and 313,404 for Chevrolet. But, during that time, a small new market came on stream for the two foremost budget brands—the rich. Although literally millions of people were hit very hard by the crash, those who had invested wisely retained their wealth. Those who steered clear of the stock market bubble and/or inves
Saturday, February 18, 2017
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When the Money Supply Dries Up - Jeff Thomas
In 1944, the US had been the primary supplier for arms for the allies during World War II and, as such, exited the war with more wealth than any of the other nations that had entered the war earlier, draining their treasuries of money. Since payment was largely demanded in gold, the US held three-quarters of the world’s gold and therefore was in a position to call the shots with regard to the free world’s economic future. At Bretton Woods, the US took advantage of this situation, setting up the
Monday, February 13, 2017
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20/20 - Jeff Thomas
In 1978, ABC News created a new programme in the US, named for the “20/20” measurement of visual acuity. For 38 years, the programme has remained popular, through its format of in-depth news stories. 20,000 The 20/20 number is itself of significance in the present year’s news events. In January of this year, the Dow closed above 20,000 for the first time in history. New President Donald Trump glowed in the event, which many of his supporters say is due to the expectations of what his presidency
Wednesday, February 8, 2017
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Under New Management - Jeff Thomas
In 2008, the majority of Americans voted for “change,” and in some ways, they got it. They received a heavier dose of collectivism in the form of Obamacare, but in addition, they received an even heavier dose of “more of the same.” Mister Obama did not put an end to Guantanamo as he promised. And, although, he did remove troops from Iraq, he expanded America’s military adventures overall, invading numerous sovereign nations. As for his promise to come down hard on the sworn enemies of democrats
Friday, January 20, 2017