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What We Know and What We Don't Know

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June 10, 2011 – Comments (17)

This could be a part 1 of many, but I promise they will all be brief.

EPJ is a really great site if you want to know what is coming and how to profit from it, or to be more accurate, how to protect the wealth you have earned.  I visit it daily to solidify my understanding of the direction of the economy, which is why I'm no longer surprised by economic data, stock movements, or commodity prices.  This particular video, is extremely well done, and a great way to introduce people to what we know and what we don't know about the economy and money.  And perhaps more importantly, to show them that the people in charge, have no idea and are merely doing fancy guesswork with predictably bad results.  It's also a great way to introduce people to Ron Paul for his 2012 Presidential run.

David in Qatar

17 Comments – Post Your Own

#1) On June 10, 2011 at 6:08 AM, dbtheonly (< 20) wrote:

Okay, no one in his right mind will vote for Paul.

 Thanks for the post.

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#2) On June 10, 2011 at 6:10 AM, dbtheonly (< 20) wrote:

Okay, no one in his right mind will vote for Paul.

 Thanks for the post.

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#3) On June 10, 2011 at 8:14 AM, dbjella (< 20) wrote:

I wish there were more people like Mr. Paul.  I will vote for him even if he doesn't win the Rep nomination.

David, even if we were on a gold standard wouldn't fractional reserve banking along with derivatives "increase" the money supply?  Probably not as much as a fiat system, but it still would increase wouldn't it? 

 

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#4) On June 10, 2011 at 8:23 AM, catoismymotor (39.43) wrote:

dbtheonly,

Please dazzle us with your choice of presidential candidate.

 

David,

Thanks for the link. I look forward to seeing what EJP has to offer.

Cato 

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#5) On June 10, 2011 at 10:51 AM, whereaminow (21.88) wrote:

Hi Doug,

David, even if we were on a gold standard wouldn't fractional reserve banking along with derivatives "increase" the money supply?

Yes.  FRB will increase the money supply, up to a point.  Over time, the value of the paper claim will lessen against the value of the underlying monetary metal.  As this happens, people seek to turn in the claim for the metal, causing bank closings and a reduction in the supply of money.

A real gold standard would allow banks to issue their own currency, which would give incentive to banks to operate under a reserve of 100%, since their losses would not be bailed out.  

Either way, the primary benefit to the citizen is that the gold standard limits the growth of the money supply, so that we don't have a situation where $5 trillion is needed to bail out banks or the rapture happens.

cato,

I think you'll like EPJ, but like other an-caps, Robert Wenzel will occasionally make a post about a Cato Institute / Reason magazine libertarian that he can't stand, so I don't know if that will turn you off.  Personally, I can't stand the bickering between the two groups, so I tune it out.  I guess it goes back a while and some of the older folks have a hard time forgetting.  

David in Qatar

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#6) On June 10, 2011 at 11:14 AM, kdakota630 (29.59) wrote:

whereaminow

Personally, I can't stand the bickering between the two groups, so I tune it out.

I'm with you, and granted, while I'm fairly new to the libertarian philosophy, I could never really figure it out.  To me it's like the Catholics and Protestants fighting.  It's like, "You guys agree with each other 99% of the time and still manage to fight this much over the remaining 1%?"

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#7) On June 10, 2011 at 12:18 PM, catoismymotor (39.43) wrote:

David,

I'm not worried about Mr. Wenzel's differences of opinion with the Cato Institute. At times I disagree with their conclusions, too. And a opposing opinion is not always a bad thing, as time has repeatedly taught me.

I have thought about changing my moniker. I like the Cato Institute, and the song Satan Is My Motor, by Cake. So I fused the two. Years ago it seemed like a good idea for a name. Since then I have given some thought to changing it.

 

 

 

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#8) On June 10, 2011 at 12:27 PM, kdakota630 (29.59) wrote:

catoismymotor

Comfort Eagle is my favourite Cake song, although they do have quite a few good ones.  The video is messed up though.

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#9) On June 10, 2011 at 1:36 PM, catoismymotor (39.43) wrote:

Short Skirt Long Jacket is one of my favorite Cake songs from Comfort Eagle.

Alpha Beta Parking Lot from Prolonging The Magic is good too. The year it came out a girl I was seeing at the time, that I was starting to really like, broke up with me. It helped to soothe the pain. I'm glad she stayed away or I would have had to break out I Will Survive.

That video is weird, kdakota. I like the low budgetness.

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#10) On June 10, 2011 at 3:20 PM, smartmuffin (< 20) wrote:

cato,

I always thought of "Satan is my Motor" whenever I saw your username but never got around to asking if there was a connection.  I guess I knew it all along!  Not sure if it's my absolute favorite of theirs but definitely Top 5!

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#11) On June 10, 2011 at 4:25 PM, vriguy (71.84) wrote:

I'd vote for Paul in the general election if I am given the opportunity - but what chance does he have in the Republican primaries? He really should run as an Independent or on the Libertarian party ticket.  It is a step to breaking the two party stranglehold that is killing this country.

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#12) On June 10, 2011 at 4:41 PM, kdakota630 (29.59) wrote:

I don't think I'll ever vote for Ron Paul.

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#13) On June 10, 2011 at 5:34 PM, Frankydontfailme (27.36) wrote:

Why not dakota? (if you don't mind saying).

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#14) On June 10, 2011 at 5:37 PM, kdakota630 (29.59) wrote:

I'm Canadian and can't legally vote in U.S. elections, and there's little chance he'll run for an elected office here.

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#15) On June 10, 2011 at 11:30 PM, ChrisGraley (29.73) wrote:

kdakota, in this country we have guys that have been dead for years that vote in each election.

You've probably already voted for both Obama and McCain in the last election. 

 

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#16) On June 11, 2011 at 10:21 AM, kdakota630 (29.59) wrote:

ChrisGraley

Last time I was in Ohio I think I explained that I was Canadian to someone and was explicitly told that it didn't matter and that I could vote in U.S. elections, so you might have a point.

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#17) On June 12, 2011 at 8:03 AM, skypilot2005 (< 20) wrote:

David,

FYI:

I just posted on your “Keynes, The Man” piece.  I think you will find it “revealing”.

http://caps.fool.com/Blogs/keynes-the-man/600522#commentsForm

Sky Pilot

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