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John Michael Greer

Image | Precious Metals: The Calculated Gamble
Precious Metals: The Calculated Gamble
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Executive Summary

  • B1
  • B2
  • B3
  • B4

If you have not yet read Part I: Precious Metals: The Unseen Risks, available free to all readers, please click here to read it first.

As I discussed in last month’s subscribers-only article, “Face First into the Limits to Growth,” the crisis faced by the global economy in the years immediately ahead of us is not primarily economic in nature. The explosive economic growth that reshaped the world over the last three centuries or so was made possible by the discovery of a few simple gateway technologies that gave humanity access to vast amounts of cheap, highly concentrated energy in the form of fossil fuels.

Precious Metals: The Calculated Gamble
 PREVIEW

Executive Summary

  • B1
  • B2
  • B3
  • B4

If you have not yet read Part I: Precious Metals: The Unseen Risks, available free to all readers, please click here to read it first.

As I discussed in last month’s subscribers-only article, “Face First into the Limits to Growth,” the crisis faced by the global economy in the years immediately ahead of us is not primarily economic in nature. The explosive economic growth that reshaped the world over the last three centuries or so was made possible by the discovery of a few simple gateway technologies that gave humanity access to vast amounts of cheap, highly concentrated energy in the form of fossil fuels.

Image | Precious Metals: The Unseen Risks
Precious Metals: The Unseen Risks

Precious metals have been a core investment vehicle for very good reasons since before the beginning of recorded history.  In periods of crisis, by and large, precious metals – especially gold – maintain their value to a much greater degree than other media of exchange.  In times of complete political and social collapse, in turn, precious metals – again, especially gold – are often accepted in exchange for goods and services when nothing else has any exchange value at all.
Precious Metals: The Unseen Risks

Precious metals have been a core investment vehicle for very good reasons since before the beginning of recorded history.  In periods of crisis, by and large, precious metals – especially gold – maintain their value to a much greater degree than other media of exchange.  In times of complete political and social collapse, in turn, precious metals – again, especially gold – are often accepted in exchange for goods and services when nothing else has any exchange value at all.
Image | Slamming Face-First into the Limits to Growth
Slamming Face-First into the Limits to Growth
 PREVIEW

Executive Summary

  • Escalating costs of resource extraction and associated pollution are key headwinds on future economic growth
  • For the first time in generations, the same limits to growth that handicapped pre-industrial society are reasserting themselves
  • Our economic and political leaders are misdiagnosing the root problem, and therefore prescribing the wrong treatments
  • Remember stagflation? Get ready to experience it again – with a vengeance

If you have not yet read The Tangled Relationship between Wealth & Money available free to all readers, please click here to read it first.

The forces driving today’s ongoing economic crisis were sketched out decades ago in the pages of the Club of Rome’s epochal 1973 study, The Limits to Growth.  Mention that book to most people nowadays, and those who admit they’ve heard of it at all routinely insist that it made false claims about the future.

The irony – and it’s not a small one – is that this simply isn’t true…

A society in this situation can expand its production of goods and services – its 'wealth economy,' in the terms used in Part I – up to the limits of the environment’s ability to provide resources and absorb waste. Once those limits appear in the rearview mirror, though, any further expansion of the wealth economy runs into two insurmountable difficulties…

Slamming Face-First into the Limits to Growth
 PREVIEW

Executive Summary

  • Escalating costs of resource extraction and associated pollution are key headwinds on future economic growth
  • For the first time in generations, the same limits to growth that handicapped pre-industrial society are reasserting themselves
  • Our economic and political leaders are misdiagnosing the root problem, and therefore prescribing the wrong treatments
  • Remember stagflation? Get ready to experience it again – with a vengeance

If you have not yet read The Tangled Relationship between Wealth & Money available free to all readers, please click here to read it first.

The forces driving today’s ongoing economic crisis were sketched out decades ago in the pages of the Club of Rome’s epochal 1973 study, The Limits to Growth.  Mention that book to most people nowadays, and those who admit they’ve heard of it at all routinely insist that it made false claims about the future.

The irony – and it’s not a small one – is that this simply isn’t true…

A society in this situation can expand its production of goods and services – its 'wealth economy,' in the terms used in Part I – up to the limits of the environment’s ability to provide resources and absorb waste. Once those limits appear in the rearview mirror, though, any further expansion of the wealth economy runs into two insurmountable difficulties…

Image | The Tangled Relationship Between Wealth & Money
The Tangled Relationship Between Wealth & Money

One of the most dangerous mistakes possible to make in trying to understand the shape of the economic future is to think of the fundamental concepts of economics as simple and uncontroversial.  They aren’t. 

In economics, as in all other fields, the fundamentals are where disguised ideologies and unexamined presuppositions are most likely to hide out, precisely because nobody questions them.
The Tangled Relationship Between Wealth & Money

One of the most dangerous mistakes possible to make in trying to understand the shape of the economic future is to think of the fundamental concepts of economics as simple and uncontroversial.  They aren’t. 

In economics, as in all other fields, the fundamentals are where disguised ideologies and unexamined presuppositions are most likely to hide out, precisely because nobody questions them.
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