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 Gold
Is Freedom
Das Problem ist,
dass sich die Menschen immer noch zu wenig mit Wirtschaft beschäftigen
und zu viel mit oberflächlichem Quatsch. Ob
Eva Herman dies oder das oder was ganz anderes sagt ist
letztlich völlig unerheblich und beeinflusst den Lauf der nächsten
Tage und Monate in keiner Weise. Schon nach kürzester Zeit ist es
ohnehin vergessen. Die Zeit, die ich also aufwende um mich mit
derartigem Quark zu befassen, limitiere ich von vorne herein. Obwohl
man natürlich auch nicht alles widerspruchslos hinnehmen kann und
zugegeben, einen gewissen Unterhaltungswert hat die Sache mit der
Herman schon. Viel mehr aber erschüttert mich die Tatsache das man
Ayaan Hirsi Ali in den Niederlanden keinen Schutz gewähren
will. Gottlob hat sich wohl in den USA ein Gönner gefunden.
Doch zurück zur Wirtschaft. Da lese ich, meine Frau noch viel mehr und
regelmäßiger, einen nach Kanada eingewanderten Wirtschaftsfachmann aus
Ungarn namens Antal E. Fekete *. Er ist Professor, am
Intermountain Institute of Science and Applied Mathematics, Missoula,
MT 59806, U.S.A. Geld, Gold und Wirtschaft gehören also nicht
ursprünglich zu seinem Fachgebiet, dennoch hat sich seit Jahrzehnten
damit beschäftigt und ist, natürlich, ein Anhänger des Goldes. Da ihn
deutsche Leser wahrscheinlich nicht, oder wenig kennen, möchte ich
heute auf einen seiner jüngsten Artikel verlinken. Antal E. Fekete
schreibt außerordentlich kompetent, mit Humor und es ist ein Gewinn
ihn zu lesen und seinen Gedankengängen zu folgen. Bookmarken sie ihn.
Jedenfalls dann, wenn Sie an mehr Wissen interessiert sind, sie
ernsthafte Leute mehr interessieren und Sie von oberflächlichen
Weicheiern a la Johannes B. Kerner eh die Schnauze voll haben.
Can We Have Inflation
And Deflation All At The Same Time
by Antal E. Fekete
Very few people understand the "continental drift" that threatens with
a fracture of the U.S. (and hence, the world) monetary system. There
are two tectonic plates: one, the supply of Federal Reserve notes (FR
notes), and the other, the supply of electronic dollars in the form of
an inverted pyramid that rests on the supply of FR deposits. The fault
line between the two tectonic plates, like San Andreas fault in
California, is a worrisome source of unpredictable earthquakes that
could cause massive and permanent damage to the U.S. and world
economy.
The monetary fault line exists because of the different statutory
requirements the Federal Reserve has to meet in order to increase the
supply of "high-powered money":
FR notes must be collateralized by gold or by U.S. Treasury bills and
Federal Agency securities. The Federal Reserve does not print FR notes
(still less can it air drop them); it gets them from a government
official called Federal Reserve Agent against pledging appropriate
collateral.
FR deposits may simply be collateralized by the note of the borrower
who borrows from any of the FR banks. Thus the Federal Reserve can
increase FR deposits on its own authority, without reference to the
government. The banking system then builds its own pyramid of deposits
upon the fractional reserve of FR deposits
please continue
here to read all
Links:
http://www.gold-eagle.com/research/feketendx.html
http://www.safehaven.com/archive-8.htm
http://www.silverbearcafe.com/private/fekete.html
http://www.financialsense.com/editorials/fekete/2005/0227.html
http://www.shoemakerconsulting.com/GoldisFreedom/default.htm
http://www.usagold.com/whithergold.html
*Professor Antal
E. Fekete was born and educated in Hungary. He immigrated to
Canada in 1956. In addition to teaching in Canada, he worked in the
Washington DC office of Congressman W. E. Dannemeyer for five years on
monetary and fiscal reform till 1990. He taught as visiting professor
of economics at the Francisco Marroquin University in Guatemala City
in 1996. Since 2001 he has been consulting professor at Sapientia
University, Cluj-Napoca, Romania. In 1996 Professor Fekete won the
first prize in the International Currency Essay contest sponsored by
Bank Lips Ltd. of Switzerland.
Ich will ja nicht
klauen, aber, daß hier muß ich noch, weil witklich wichtig,
hineinkopieren:
J'accuse
We have to interpret the new phenomenon, the falling tendency of the
T-bill rate. Maybe the financial media will try to put a positive spin
on it, for example, that it demonstrates the newly-found strength of
the dollar. However, I want to issue a warning. Just the opposite is
the case. We are witnessing a sea change, tectonic decoupling, a
cataclismic decline in the soundness of the international monetary
system. The world's payments system is in an advanced state of
disintegration. It is the beginning of a world-wide economic
depression, possibly much worse than that of the 1930's. The falling
T-bill rate must be seen as a sign of the government of the U.S. and
the Federal Reserve losing their battle against deflation. We have
reached a landmark: that of the breaking up of centralized and
globalized credit, the close of the dollar system.
J'accuse -- said Zola when he assailed the French government for
fabricating a case of treason against artillery captain Alfred Dreyfus
in 1893. It is now my turn.
J'accuse -- the government of the United States under president
Roosevelt reneged on the domestic gold obligations of the U.S. in
violation of the Constitution: it violated people's property rights in
confiscating gold without due processes
J'accuse -- academia has been pussyfooting the government by failing
to point out the economic consequences of gold confiscation, namely,
the prolonged suppression of interest rates that was ultimately the
cause of prolonging depression. (The causal connection between gold
confiscation and the prolonging of the Great Depression should be
clear. Gold must be seen as the main competitor of bonds. Once the
competitor is forcibly removed from the scene, bond prices start
rising or, what is the same to say, interest rates start falling.
Linkage between falling interest rates and falling prices did the
rest.)
J'accuse -- the government of the United States under president Nixon
reneged on the international gold obligations of the U.S. thereby
globalizing the monetary crisis in 1971
J'accuse -- cringing academia failed to point out the consequences of
trying to oust gold from the monetary system: price spiral of
marketable commodities world-wide; roller-coaster ride of long-term
interest rates, up to 16 percent per annum and down to 4 percent per
annum or lower and back up again; and, last but not least, the fact
that interest rates may take prices along for the ride
J'accuse -- foreign governments accepted Nixon's breach of faith
without demur, apparently because in exchange for their compliance
they were given the freedom to inflate their own money supply with
abandon on the coattails of dollar inflation
J'accuse -- the banks have embraced the regime of irredeemable
currency with gusto and greatly profited from it, instead of
protesting that under such a regime it was impossible to discharge the
bank's sacred duty to act as the guardian of the savings of the
people, and to protect the value of the estate of widows and orphans
J'accuse -- the accounting profession for their compliance in
accepting grieviously compromised accounting standards that allows the
conversion of liabilities into assets in the balance sheets of the
government and the Federal Reserve.
J'accuse -- Ben Bernanke is lying to the people in stating that he has
the authority to print and air dop FR notes in order to fight
deflation; the notes must be collateralized
J'accuse -- the financial press is lying to the people in parroting
the propaganda line that gold has been demonetized; gold is still used
as collateral for FR notes
* * *
In the words of Chief Justice Reynolds, in delivering the dissenting
minority opinion on the 1935 Supreme Court decision that upheld
president Roosevelt's confiscation of the people's gold:
"Loss of reputation for honorable dealing will bring us unending
humiliation. The impending legal and moral chaos is appalling."
No less appalling, we may add, is the impending financial and economic
chaos.
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