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SNAFU
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In A Paper System, All Assets Are Backed by the Treasury Bond

- Keith Weiner -

If I may, the remark of your business person " there will be no change until people are hungry and cold" is not true.

When the poor are hungry and cold, they do not make revolutions, because they cannot take the risk and know that they will die of cold and hunger if things go wrong.

Revolutions and change are made either by the structure in power when it cannot be fed or kept at bay anymore, or by a new economic class that does not have political clout. Just look at the French, the Russian and the American revolutions.

The idea that the poor make revolutions and that, for this reason, they should be bought and corrupted (the foodstamps and subsidies ou mention) is totally marxist by nature, and socialist in implementation (which is what the western states have become).

Commented 4260 days ago

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Beginning of the headline :In a gold-based monetary system, every asset is ultimately backed by gold. This does not mean that every debtor (including banks) keeps the full amount of its liability in gold coin just lying around. Why would one bother to borrow if one did not need the money? It means that every asset generates a gold income and every asset could be liquidated for gold, if necessary... Read More

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