"The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence:
Which brings us to the election of 2020. Neither of the two major political parties offer much hope by way of platform promises. We used tdo believe we had a choice....either a party promising more largess from the public treasury or one pledging to trim waste and strive to eventually produce a balanced budget. We played along knowing very well the hollowness of political promises. (!)"From bondage to spiritual faith;
from spiritual faith to great courage;
from courage to liberty;
from liberty to abundance;
from abundance to selfishness;
from selfishness to apathy;
from apathy to dependence;
from dependency back again into bondage." THE CYCLE OF DEMOCRACY
New York (CNN Business) "Gold prices continued their scintillating run Wednesday, rallying yet again to hit an all-time high of above $1,950 an ounce."
Not entirely true.
CNN forgot to calulate the inflation factor in its comparison of
present gold prices and the "high" of 2011. Today's price would
have to be over $2,230 per troy ounce to match the purchasing power of
the 2011 dollar.
Speaking of the purchasing power of the U.S. dollar. . . What's all the
talk lately about the dollar losing its grip as the THE reserve
currency in world trade?
The topic has caught the eye of the NY Sun editorial department and today's comment on the matter is well worth the read. DOUBTS ABOUT THE DOLLAR EMERGE.
not rooting for the displacement of the dollar by yet another fiat
currency, but ever since weathering the heavy dose of monetary
inflation of the 1970s we've expected the ruin of the dollar would be
the eventual result of loose monetary policy. In fact, in our own
lifetime we've seen the purchasing power of the dollar dive from $1.00
to about 5 cents. So, years ago we climbed on the bandwagon
touting the return to sound money. Only recently have we seen
many other passengers climb aboard. We're delighted to see the
likes of NY Sun publisher Seth Lipsky calling for the re-establishment
of a trustworthy monetary unit.