The monetary base (MB) was $1,143,873 (million) on 22 October 2008 and $843,841 on 10 September a 35.56% increase in six weeks. See how hard Zimbabwe Ben is working to protect the US dollar's value. At this rate the MB will increase 1,040% in 48 weeks! Check my arithmetic. Got gold? Get more. Got bonds? Hahahahaha.
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3 comments:
You're an anti-bondist....
Bonds are fake. Think about it. If you always get more money back than what was lent out, eventually you will have all the money in the world. Works much faster if a lot of people have a lot of bonds.
The only way debt can be paid off is with more debt. It will blow up. The notion that because gold does not pay dividends it is someone less valuable than a bond that pays. Pays you in devalued dollars.
Unless you are getting usurious rates, you are being drained. If you are getting usurious rates you are taking risk of default.
People have to realize that when they retire they cannot live off interest. They need to be able to live off principal.
I hate bonds too, especially government debt. There should be no such thing, except for time of war, or narrow bits of infrastructure that need long term financing. Operational debt is a bubble that will blow.
Anonymous:
Printfaster:
My position on bonds can be found at my 5 January and 2 February 2008 posts, among other places.
http://skepticaltexascpa.blogspot.com/2008/01/municipal-bonds-at-risk.html.
http://skepticaltexascpa.blogspot.com/2008/02/graveyard-for-capital.html.
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