Handre
@Handre • 41,896 subscribers
Spreading the radical ideas of the free market to 100m people before 2035. Let’s wipe collectivism from the face of the earth.
Videos
This 1min clip has changed the way I interact with people on a daily basis. Enjoy.
Handre128,963 Aufrufe • vor 1 Monat
On a Sunday evening, August 15, 1971, Richard Nixon interrupted the broadcast of Bonanza to inform Americans that the dollar they held was now backed by nothing but his word. He called it "temporary." Fifty-plus years later, you are still waiting for the temporary part to end. Understand what actually happened. Under Bretton Woods, foreign governments could exchange their dollars for gold at $35 an ounce. The dollar was a receipt. Gold was the money. Washington printed receipts far faster than it dug gold out of the ground, financing Vietnam and Lyndon Johnson's Great Society with the same press. De Gaulle noticed. So did others. France sent a warship to collect its gold, and the run was on. Nixon had two honest choices: stop spending, or admit the dollar was overissued. He chose a third option. He defaulted, then blamed "international speculators" for the mess his own Treasury created. Classic. Notice the language he used. He promised the dollar's action would "stabilize" prices. Consumer prices roughly quadrupled over the next forty years. A 1971 dollar buys you about fourteen cents of goods today. That is confiscation in slow motion, and it hit wage earners and savers hardest, the people holding cash rather than assets that float upward on the new tide of credit. Here is the mechanism sound money advocates warned about for a century: Sever money from a physical anchor and you hand politicians an unlimited overdraft. Every deficit, every bailout, every war since 1971 rode on that Sunday broadcast. Ludwig von Mises died in 1973, having spent decades explaining exactly this. Nixon called it "protecting" the dollar. He meant emptying it. You have been paying the invoice ever since.
Handre63,325 Aufrufe • vor 24 Tagen
In the first Austin Powers movie (1997), Dr. Evil initially demands a ransom of $1 million but, after his henchman Number Two points out that this is an insignificant sum, he changes the demand to $100 billion. Then, he travels back to 1969 and holds the world ransom for $100 billion, which the President laughs off because that amount doesn't exist yet. In 1969, $1m was generally considered an amount so large that the US government would begrudgingly pay it to save the world. In 1997, that amount was $100 billion. Today, such an amount would be north of $2 trillion, which would still be a trivial amount for the US, basically a few months of expenditure. What number would theoretically be demanded in 2040? $100 trillion? What comes after a trillion? Dr. Evil gives us the answer in Goldmember: "1 billion, gagillion, fafillion, shabolubalu million illion yillion...yen" They are running out of numbers to use; just like Zimbabwe, they would soon need to start cutting off zeros, because the denominations are getting so large that it's becoming unworkable.
Handre35,731 Aufrufe • vor 1 Monat
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