INSPIRATIONAL: The greatest books of wisdom are available free — a donation would be appreciated

Saturday, November 2, 2024

https://standardebooks.org/ebooks/jean-jacques-rousseau/the-social-contract/g-d-h-cole

The Social Contract
Jean-Jacques Rousseau

  • 56,521 words (3 hours 26 minutes) with a reading ease of 50.91 (fairly difficult)
  • Translated by G. D. H. Cole.
  • Part of the Encyclopædia Britannica’s Great Books of the Western World set.  

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In The Social Contract, Jean-Jacques Rousseau presents a political philosophy based on the principle that legitimate authority originates from the consent of the people. Individuals willingly surrender their rights in order to create a collective sovereign, which embodies the general will of the people.

Rousseau examines different forms of government, addresses the challenges of ensuring that a government executes the general will of the people, and addresses the need for safeguards against the abuse of power. He demonstrates that active citizenship and a strong social compact are crucial for maintaining a just and free society.

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I read this in High School because it was on a summer reading list.  (Those Christian Brothers really knew how to ruin a boy’s summer.  Bless their souls.  It sunk in after one or more decades.) I had to go to the library to read it.  (It was only available in an expensive hard cover.  My money went to comic books.)  At the library I saw a complete set of the Great Books of the Western World from the Encyclopædia Britannica.  I was awed by the row.  Didn’t read them but I could have. (Shoulda, coulda, and woulda!)

It is amazing at the “riches” the net provides if it’s just used properly.

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GOLDBUG: The shift from dollar-based global economy to something else is glacially slow but you can see it happening

Saturday, November 2, 2024

https://www.gold-eagle.com/article/commodity-currency-revolution

The Commodity Currency Revolution
Alasdair Macleod
Author & Head of Research @ Goldmoney
April 7, 2022

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We will look back at current events and realise that they marked the change from a dollar-based global economy underwritten by financial assets to commodity-backed currencies. We face a change from collateral being purely financial in nature to becoming commodity based. It is collateral that underwrites the whole financial system.

The ending of the financially based system is being hastened by geopolitical developments. The West is desperately trying to sanction Russia into economic submission, but is only succeeding in driving up energy, commodity, and food prices against itself. Central banks will have no option but to inflate their currencies to pay for it all. Russia is linking the rouble to commodity prices through a moving gold peg instead, and China has already demonstrated an understanding of the West’s inflationary game by having stockpiled commodities and essential grains for the last two years and allowed her currency to rise against the dollar.China and Russia are not going down the path of the West’s inflating currencies. Instead, they are moving towards a sounder money strategy with the prospect of stable interest rates and prices while the West accelerates in the opposite direction.

The Credit Suisse analyst, Zoltan Pozsar, calls it Bretton Woods III. This article looks at how it is likely to play out, concluding that the dollar and Western currencies, not the rouble, will have the greatest difficulty dealing with the end of fifty years of economic financialisation.

Pure finance is being replaced with commodity finance

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We’ve seen the price of gold in dollars rise.  ₿itcoin is another example of the little people seeking to save in the face of massive inflation.  And, those ₿itcoiners who are holding on for dear life (aka HODLers) are obviously big winners and just don’t let go.

Some Gooferment just levied a 42% tax on ₿itcoin capital gains.  Good luck collecting that.  That’s why self-custody is almost mandatory.  I can see generations of family practicing tax evasion and avoidance as wealth is transferred inter-generationally by means of ₿itcoin, precious metal “coins” (i.e., rounds), and other hard invisible assets.  

For the “tiny savers”, for whom the price of gold and silver is too big a barrier to entry, ₿itcoin and Goldbacks are low cost ways to enter the market.

Not every seismic change happens quickly like a Tsunami, Earthquake, or Hurricane.  But like small tremors lead up to a big quake, this is happening right before us.

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