For the past 25 years or so, I get a strong sense of what the new year will bring right at sunset on Dec 31. Call me crazy, but this year it’s a feeling of “discontinuity.” For those of us in the business world, that’s a great word (like “disruption”). Brings up images of innovation and shifting the environment in which problems arise. And disruption can be scary–black swan events like uprisings, natural disasters, and shifting borders of countries, ideas, tribes of people. Anyone have a similiar feeling? Is 2016 the year of discontinuity?
where there is terror and panic and denial, then condemnation (making wrong) is likely to arise as well as glorification (making right). Glorification may also be a way of actually turning away from simple direct alertness to the thing glorified.
Proceeding to your defense of Ted Cruz, I’m utterly baffled. Setting everything else aside, – a gold standard? This is just a ridiculous proposal – even Hayekians, among whom you count yourself, don’t actually stick with this argument. It’s utterly uncredible.
So I ask you what, exactly, are the “great insights” of Dave‘s OP with which you find yourself enamored?
“The gold standard also is an economically sound proposition… ‘Let us not forget either the tremendous disaster of the Great Depression, carrying in its wake countless sufferings and wide-spread ruin, a catastrophe that was brought under control only in 1934, when President Roosevelt, after a complex mix of remedies had proved unavailing, raised the price of gold from $20 to $35 an ounce.’
This is historically false, Ralph; utter nonsense. The fact is that Roosevelt took the US off the gold standard in 1933:
(The more debts that they invent, the bigger the public demand for whatever forms of payments they declare to be valid.)
Through words, the oathsworn high priests perform rituals for the creation of debts and for the creation of public demand for the sacred object of that system of governing human activity and human perception (with that sacred object being used to discharge the debts that they declare or invent or create).
However it is not magic shapes of ink on paper that give a currency value. It is the military capacity behind those declarations of value. It is the ability and willingness to arrest and imprison and garnish and Levy and seize and auction.
Then, the priesthood declares that substance as the only one accepted for the debts that they invent. That declaration creates demand in the public. If there was already some demand in the general public for some generally useless chunk of rock, then public demand rockets (at least in the vicinity of that priesthood’s System of extortion).
Then, the priesthood declares that each ounce of gold once it has been ritually minted with the face of one of the local gods, is suddenly worth 100 pounds of wheat or 1000 pounds of wheat (depending on what numbers the priests mark on that particular coin).