Hugo Adan. June 5, 2019
This article contain my reflections on excellent Mish art
below:
My premise is that we can’t go back to gold for our USD if
we can’t pay attention to the political and Economic context –domestic &
foreign- we face now.
Some view
gold as an inflation hedge...It isn't... Gold is a hedge against the notion that the Fed has things under control.
See Chart:
GOLD vs. FAITH in CENTRAL BANKS
Gold fell from $850 an ounce in 1980 to $262 an ounce in in 1999
with inflation every step of the way.
People believed Greenspan,
the great "maestro" had everything under control. IT WAS AN ILLUSION.
“Faith in central banks is about to be tested again”, said Mish in this
article.
….
My comment:
A post-neoliberal Econ depend on supporting USD with GOLD.. Our Economic system is obsolete. It was based on the Keynesian myth that
Spending drives Econ Growth. He expected to correct the neo-classical
imperfections of the free-liberal market.. and make it worse. The consumer (common
people) was & is misguided to buy whatever merchandise is promoted in TV..
he didn’t care about saving and didn’t understand the trap of Interest rates
and financial games.. he is not prepared to face the Econ crash that already
starts. Germans, China & RU are doing it and they will change to gold as soon
as France and others (India among them) do it. US & UK depends on expanding
neoliberal capital via WW3.. If this happen they will be hit.
The problem with adopting gold in the US Economics implies that:
1- Trump & war mongers must be took out from power via impeachment or else. By ‘else’ I mean via Top-Down or Bottom-up
REV. Read the debate between Ellen Kay Trimberger, Block & Theda
Skocpol (chap 19: Trimberger, Block, and Skocpol and
Neo-Weberian Theorizing) in SOCIAL THEORY by Berch Berberoglu . Or focus on: EK Trimberger: “Rev
from Above” Or get the PDF:
2- To agree in the dismantle of all
nukes world-wide.
3-The adoption
of gold should not enrich the super-rich (specially all speculators from
Wall-Street) ; instead. It should protect the middle financial sector involved
in Economic production, not on speculators.
4-The political control of the
Regional FEDs should be in the hands of the working classes and minorities
already excluded & oppressed. The electoral system must be adapted to this
aim.
5- These
new FEDs or autonomous States will be in charge of common national concerns
like best health and education for all.
6- The State Owned enterprises must
control all natural resouces (oil, gas and others) to finance the reconstruction
of a new society.
7- The
dilemma “public need” vs. “private greed” will
be resolved in favor of the public and on cooperation and fraternity . Meaning:
Coop and collective org will be fosterd against inexistent “individual liberty”
and their “explotation”. Such freedom
was erased by big monopolies & huge corp. They must be dismantle and their
resources nationalized if they evade taxes or commit similar-felonies
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