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Letters by a modern St. Ferdinand III about cults

Gab@StFerdinandIII -

Plenty of cults exist - every cult has its 'religious dogma', its idols, its 'prophets', its 'science', its 'proof' and its intolerant liturgy of demands.  Cults everywhere:  Corona, 'The Science' or Scientism, Islam, the State, the cult of Gender Fascism, Marxism, Darwin and Evolution, Globaloneywarming, Changing Climate, Abortion...

Tempus Fugit Memento Mori - Time Flies Remember Death 

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Thursday, August 7, 2014

Nixon's sorry legacy - a systemic implosion, from real inflation and currency devaluation.

The cult of Keynes - and Nixon was an ardent devotee.

by StFerdIII


Central Banks are complicit in the Keynesian meltdown which has operated in cycles since 1971. It will only get worse. My personal belief is that we are in for a systemic implosion around currencies and debt. These two 'triggers' will herald severe economic contractions and associated social-political disruptions. The modern state's addiction to debt, easy money, low rates and massive government will generate destruction.


Braudel's study of Mediterranean Civilization [see here] highlighted that no state which had a debt level of over 200% of its real economy, survived. They all went bankrupt. The current modern state possesses 500-800 % more debt than economic size as measured by that quite useless formula, GDP [which is simply a spending algorithm].


In an infamous date in history, August 15 1971, Nixon, the big-government promoter who initiated the modern fiat currency scam [see here], took the US dollar out of the Bretton Woods semi-fixed exchange rate system, which was tied to a gold standard [see here]. Since then only 2 clear trends have emerged. The first is the massive increase in government spending. The second is the incredible destruction of the value of money.


Thanks to Nixon, the real value of a dollar has plummeted in the past 40 years by 80%!


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