Those who do not learn from history…

Posted on 26 July, 2010 by | 4 Comments

…and you know the rest of that one.

David Davis

But this looks like it will be worth reading.

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This entry was posted in Anglosphere, Economics, Finance, history, politicians, poor people, Practical Coal Mining, sawdust and rat droppings, War. Bookmark the permalink.

4 Responses to Those who do not learn from history…

  1. Howard R Gray | 27 July, 2010 at 6:49 am |

    Why do we believe in paper money? This is one of the great mysteries of our time. Why shouldn’t we believe in private money, you would think that just might be a little better than the government version. Perhaps now is the time for private non state boodle backed by what ever is credible ie gold or silver etc.

  2. John B | 27 July, 2010 at 7:08 am |

    It is an alarming situation and trying to work out what is going to happen and what to do in the circumstances is very difficult. But I suppose it is all very obvious, too.
    The various western governments have created trillions of monetary units over the last few years therefore the currencies have been degraded. We have not seen anything too disastrous yet. I don’t know by what percent the global amount of money has been inflated, but why whatever per cent it is, by that much prices will have to rise to accommodate the “exchange tokens” sloshing around the system.
    I was, indeed, told to buy gold 10, 15 years ago, when popular and informed wisdom despised gold. Unfortunately I couldn’t really do that, not having the ability, nor incidentally, the courage to go against “the wise”.
    But the point is that whatever it is that one should do at the moment, informed, never even mind popular, wisdom is likely looking in another direction (not necessarily the opposite – as Mark Twain reportedly said, history does not repeat itself, it rhymes.)
    Is the Brave New World coming in and if so what form will it and its exchange procedures take?
    Anything appearing in MSM, including The Telegraph, is of course “informed” and/or “popular” wisdom.

  3. Howard R Gray | 28 July, 2010 at 8:16 am |

    Now is the time for all good men to promote asset backed private currencies?

  4. John B | 29 July, 2010 at 10:32 am |

    This was quite interesting, and another little confirmation of Sean Gabb’s perception a a “ruling class”:

    http://www.carolineglick.com/e/2010/07/israels-ruling-class.php

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