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January 2010

Hyperinflation History: The Continental

by John Rubino on January 29, 2010 · 9 comments

The Framers of the Constitution had clear ideas about what was and was not money. As they put it in Article 1, Section 10, “No state shall…coin money; emit bills of credit; make any thing but gold and silver coin a tender in payment of debts…”. This belief that a sound country required a sound […]

Standard & Poor’s is threatening to cut Japan’s credit rating, which doesn’t sound like that big a deal in a world where no one’s credit is quite what it used to be. But Japan is a special case. It’s been borrowing like crazy at rates two or so percentage points below what the U.S. pays […]

Sharks in Offshore Waters, Part Three

by John Rubino on January 24, 2010 · 0 comments

Two things are certain about moving money overseas: First, it’s necessary if you want to shield at least some of your savings from the capital controls, wealth taxes and confiscations that will (not might) be imposed by over-indebted governments in coming years. Second, there’s a whole ecosystem of predators waiting to exploit the first-time offshore […]

If Only

by John Rubino on January 20, 2010 · 22 comments

A Wall Street Journal columnist named Thomas Frank just made a great suggestion: One Cross of Gold, Coming Up How the government could get even with right-wing cranks. These are polarized times, but one thing everyone agrees on is that it sure is great when government makes a profit. Supporters of President Obama like to […]

Sharks in Offshore Waters, Part Two

by John Rubino on January 19, 2010 · 2 comments

Offshore investing is one of those things that’s easy to do but hard to do well. Whip out a reasonably hefty checkbook and you’ll find lots of smooth operators ready to sell you a Latin American beachfront condo, Swiss bullion account or sure-thing Chinese stock, all wrapped up in an impressive-sounding trust or LLC. But […]

Sharks in Offshore Waters, Part One

by John Rubino on January 15, 2010 · 8 comments

No matter where you live, it’s hard to escape the feeling that too many trends are moving in ominous directions. The U.S., besides running suicidal deficits, now wants to make investment income subject to Medicare taxes and convert 401(K)s to annuities, in effect nationalizing them. The Euro Zone is coming apart at the seams, as […]

Hyperinflation History: La Terreur

by John Rubino on January 12, 2010 · 20 comments

A while back a reviewer dismissed the idea of a dollar collapse by asking “Collapse against what?” His argument was that the other major currencies are a mess too, so in relative terms the dollar will be fine. This of course misses the point, but in a useful way because it illustrates how words that […]

Irony: Andrew Jackson On a Federal Reserve Note

by John Rubino on January 9, 2010 · 32 comments

Karl Golovin, a retired customs agent and security director for Ron Paul’s presidential campaign, just forwarded a transcript of Andrew Jackson’s farewell address. It’s pretty amazing.  Here’s Karl’s intro, followed by an excerpt: “During his presidency, Andrew Jackson viewed as his crowning achievement that he “Killed the Bank,” the 2nd Bank of the U.S. Our […]

As a general rule, DollarCollapse.com doesn’t get involved in public policy debates. Not because they aren’t important, but because the damage has already been done. The U.S., along with Japan and most of Europe, has passed the point where policy fixes are possible. There’s no magic marginal tax rate or Fed Funds rate or immigration […]

The Difference a Printing Press Makes

by John Rubino on January 3, 2010 · 3 comments

Contrast how the best-run U.S. states are responding to the recession — cutting services, laying off workers, raising taxes, and generally making hard choices — with how the Federal government simply writes checks to any and all (while being praised for its “flexibility” and “creativity”) and you begin to understand the power of a printing […]

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