COMMENT: Mr. Armstrong; As you know, we rejected the proposal to eliminate banks from creating money by lending or the Sovereign Money Initiative. What you did not report is that the very same reasoning behind that movement has been used for the cryptocurrencies. In fact, they were using Bitcoin as proof that their idea […]
QUESTION: Were the Crusades inspired by economics? You mentioned how Venice looted Constantinople. Thank you for making history interesting KR ANSWER: To understand the Crusades, we have to first look at what was the original justification. The Catholic Church encouraged pilgrimages from the 4th century, but they began really during the 1st-2nd century and built in […]
The question of money supply and inflation has been erroneously set in stone philosophically predominantly by the debasement of Spain and Britain during the period of Henry VIII. This was really a period where there were various countries and their currency completely relied on the exchange market in Amsterdam, which was based entirely upon their metal […]
QUESTION: It seems that the Democratic Party is turning really socialist. The DNC Chair Tom Perez said the Socialist Ocasio-Cortez is the “future of our party” and it seems they just ignore the socialist path in places like France which you pointed out their stock market peaked back in 2000 and has not participated in the […]
In Switzerland, we get to see how people who are really clueless about how the economy works still manage to get outrageous referendums on the ballot. A radical plan to transform Switzerland’s financial landscape was rejected, thank God, which would have barred commercial banks from electronically creating money when they lend. These people have no idea what […]
QUESTION: Mr. Armstrong, the famous economist Paul Krugman says that debt is ok when we owe it to ourselves. He calls it “deficit scolding” as he wrote in the New York Times. Would you like to comment on this statement? GH ANSWER: Paul Krugman seems to lack any historical understanding of how nations rise and fall. […]
COMMENT: Sir, After reading your blog post about the 300% increase in the cost of healthcare for refugees, I wondered the cost in this country for illegal aliens. Healthcare. Education. Food stamps. Etc. I googled anywhere from 3.4 to 11 billion dollars from health care alone. I laughed out loud after reading the above. You […]
COMMENT: Usury, first the Fed starves we savers for return for 18 years with their zero percent interest rates and gave us two giant stock market crashes in that intervening period. The lack of return caused us to cannibalize our savings and trillions of savings lost thru the stock market crashes and ditto home equity. Then […]
QUESTION: Mr. Armstrong; I was at the Treasury Management Association of Canada (TMAC) conference in Vancouver when you appeared as a speaker as well as Peter Detallis of the Bank of Canada if I remember his name correctly. I was there at the cocktail party when the Finance Minister of Nova Scotia said you diminished the […]
I have been warning that we are in a battle to the death against the socialists. The West Coast is becoming the place to leave as fast as you possibly can for any business. There are already companies starting to migrate from Silicon Valley to Texas. The migration has begun. More and more Tech firms are […]
