“The rich rules over the poor, and the borrower is the slave of the lender.” — Proverbs 22:7 Wealth is not a number. It is not a currency. It is not a claim on someone else’s promise. Wealth is energy captured in physical form—human effort stored across time, transformed into…
“There is no means of avoiding the final collapse of a boom brought about by credit expansion.” — Ludwig von Mises A mortgage is a claim on your future labor. A government bond is a claim on future tax revenue. A corporate bond is a claim on future profits. The…
How the State Is Buying the Economy and Reshaping the Global Monetary System “Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide.”— John Adams A few weeks ago, I woke with thoughts about Trump that I…
Gold, yuan, and the end of dollar rule “He who owns the gold makes the rules.” — Anonymous A reader on Sunday’s post mentioned The Wizard of Oz. That single word—Oz—sent me back to an essay I wrote over two years ago called The Land of Ounces. I went back…