At the present time, the system at work since the end of World War II is operating in reverse. Reserves are falling, the majority of which are held in Dollars. Government Bonds held as Reserves are being sold off. An important contraction in world commerce is taking place
The creators and promoters of the Bitcoin are perhaps acting in good faith, but they are individuals enthralled with technology. The Bitcoin may indeed be a technological marvel, but the creators and promoters of the Bitcoin do not understand money
The Bitcoin is supposed to be a great triumph of technology, which protects the rights of the individual to his property and privacy. But, does this make the Bitcoin a new type of money? The answer is "No".
"Mainstream Economics" functions on the basis of an inappropriate method. The inductive method cannot apply in the realm of human affairs, where each situation, individual or collective, is unique and not repeatable; no matter how well-intentioned "mainstream economists" may be, their methodology - induction - must fail to solve the problems they face
Europe - or whatever we wish to call this warm realm of rights and freedoms, of economic and social welfare -is broken inside and threatened from outside. It neither knows how to, nor can, nor wants to and perhaps should not even try to defend itself. We are living in the absurd paradox of feeling sorry for the barbarians, even cheering them on, and at the same time pretending that our comfortable way of life will go on intact...