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The difference between truth and fiction : fiction has to make sense
Mark Twain  
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Most read articles
Antal E. Fekete - Gold University
Is Our Accounting System Flawed? 
The accounting principle, the Law of Liabilities, asserts that a firm must carry itsliabilities in the balance sheet at its value upon maturity, or at liquidation value,whichever is higher. This Law is universally ignored by present accounting standards,which threatens the economy with massive deflation through the destruction of capital, inview of the persistent fall of interest rates for the past 25 years, as it keeps increasing theliquidation value of debt
Saturday, May 24, 2014
Mish - Global Economic Analysis
Why does fiat money seemingly work ? 
Imagine that you live on a small island mining the local salt mine, together with Pete the fisherman and Tom the apple grower. You'd exchange your salt for Pete's fishes and Tom's apples, while they would exchange fishes and apples between them. One day Pete says: "Instead of fish, from now on I will give you pieces of papyrus with numbers marked on them. (Papyrus grows in near unlimited
Friday, June 13, 2014
Hyperinflation - USA Gold
  The Nightmare German Inflation 
Hey, Mr. Chairman, in case you haven't noticed, the Federal Reserve already has a goodly supply of oxen! My father was fond of relating a story about a professor lecturing on geography. A short fellow, he was extolling the agriculture of Switzerland. "In our country oxen are not even as tall as I am. In some countries you see oxen just as tall as myself. But, believe it or not, on the fat pastures of Switzerland there are even greater oxen than myself". For emphasis the good professor stood on his tiptoes and stretched his hand upwards above his head. "We don't believe so!" - shouted someone from the back benches of the lecture theater.
Sunday, August 10, 2014
Ayn Rand
   The Fountainhead – Howard Roark Speech (Gary Cooper)

Wednesday, May 21, 2014
Food for thought
  US Treasury : Federal Notes have no Value for themselves 
Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything.
Tuesday, May 27, 2014
Money as debt - Food for thought
If all bank loans were paid up… 
'If all the bank loans were paid up, no one would have a bank deposit, and there would not be a dollar of currency or coin in circulation. This is a staggering thought. We are completely dependent on the commercial banks for our money.
Thursday, July 24, 2014
Thorsten Polleit
  The Fiasco of Fiat Money 
I. Today's worldwide paper-, or "fiat-," money regime is an economically and socially destructive scheme — with far-reaching and seriously harmful economic and societal consequences, effects that extend beyond what most people would imagine. Fiat money is inflationary; it benefits a few at the expense of many others; it causes boom-and-bust cycles; it leads tooverindebtedness; it corrupts society's morals; and it will ultimately end in a depression on a grand scale.
Friday, June 13, 2014
Food for thought
The smart way to keep people passive… 
The smart way to keep people passive and obedient is to strictly limit the spectrum of acceptable opinion,
Sunday, June 15, 2014
George F. Smith - Barbarous Relic
Who said it, when and where?
Over the years I've accumulated a long list of quotes about money and banking extracted from online articles and books I've read.Unlike most other sites that post pithy remarks from famous authors, I include hyperlinks to their sources, so that anyone who wishes can not only verifya quote but, perhaps more importantly, read the context in which it was used.
Tuesday, June 17, 2014
Jesse - Jesse's Café
La Fête Nationale
The representatives of the French people, organized as a National Assembly, believing that the ignorance, neglect, or contempt of the rights of man are the sole cause of public calamities and of the corruption of governments, have determined to set forth in a solemn declaration the natural, unalienable, and sacred rights of man, in order that this declaration, being constantly before all the members of the Social body, shall remind them continually of their rights and duties; in order that the acts of the legislative power The representatives of the French people, organized as a National Assembly, believing that the ignorance, neglect, or contempt of the rights of man are the sole cause of public calamities and of the corruption of governments, have determined to set forth in a solemn declaration the natural, unalienable, and sacred rights of man, in order that this declaration, being constantly before all the members of the Social body, shall remind them continually of their rights and duties; in order that the acts of the legislative power, as well as those of the executive power, may be compared at any moment with the objects and purposes of all political institutions and may thus be more respected, and, lastly, in order that the grievances of the citizens, based hereafter upon simple and incontestable principles, shall tend to the maintenance of the constitution and redound to the happiness of all.
Monday, July 14, 2014

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