money

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G. Edward Griffin: Exposing The Creature From Jekyll Island

Hard truths from the man who wrote the book on the Fed
Sunday, April 23, 2017, 3:25 PM

G. Edward Griffin, the author of the seminal book on the formation of the Federal Reserve, The Creature of Jekyll Island, joins the podcast this week to add his perspective to our ongoing critical examination of the Fed and the impact its actions are having on society.

Ed's decades of research and critique of the Federal Reserve, sadly, have left him with conclusions that corroborate our own. Despite its carefully-crafted image as an essential public servant, Griffin concludes it is anything but. It is a private cartel that has connived its way to tremendous advantage and power, secretly (and not-so-secretly) plundering the American people of their treasure and freedoms. » Read more

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Why This Market Needs To Crash

And likely will
Friday, March 24, 2017, 10:12 PM

Like an old vinyl record with a well-worn groove, the needle skipping merrily back to the same track over and over again, we repeat: Today's markets are dangerously overpriced.

Strange as it may sound, it's our opinion that the sooner a major market correction happens, the better. Crash now while there’s still chance of picking up the pieces afterwards and making something useful from them. The longer we push off the inevitable fall, the more destructive it will be and the more difficult it will be to recover from. » Read more

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Banks Are Evil

It's time to get painfully honest about this
Friday, March 17, 2017, 8:05 PM

I don't talk to my classmates from business school anymore, many of whom went to work in the financial industry.

Why?

Because, through the lens we use here at PeakProsperity.com to look at the world, I've increasingly come to see the financial industry -- with the big banks at its core -- as the root cause of injustice in today's society. I can no longer separate any personal affections I might have for my fellow alumni from the evil that their companies perpetrate.

And I'm choosing that word deliberately: Evil. » Read more

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When This All Blows Up...

Understanding the how & when of the next economic crash
Saturday, March 11, 2017, 1:01 AM

This report marks the end of a series of three big trains of thought. The first explained how we’re living through the Mother Of All Financial Bubbles. The next detailed the Great Wealth Transfer that is now underway, siphoning our wealth into the pockets of an elite few.

This concluding report predicts how these deleterious and unsustainable trends will inevitably ‘resolve’ (which is a pleasant way of saying ‘blow up’.) » Read more

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Winning The Great Wealth Transfer

How to grow your wealth as our money dies
Friday, March 3, 2017, 10:59 PM

Executive Summary

  • There are too many claims on real wealth
  • Our currency has a destiny with the dustbin
  • When money dies, real wealth remains
  • How to ensure you're on the winning side of the Great Wealth Transfer

If you have not yet read Part 1: The Coming Great Wealth Transfer, available free to all readers, please click here to read it first.

Financial Repression is really just a stalling tactic designed to slowly take your purchasing power and help bail out an over-indebted system.  It works best when there’s wage inflation to help soften the blows; but there hasn’t been any of that in a long time, so the average household is just being crushed -- a situation easily confirmed in the observed elevated suicide rates, record opioid addiction levels and overdose rates, and ultra-low levels of job satisfaction. 

The main driver of the coming Wealth Transfer is rooted in the concept of too much money. And debt. They’re the same thing, as we have a debt-based money system. That is, our money is created through the issuance of debt.  One begets the other.  So we can track either (preferably both) to understand what’s really happening.

We do this here at Peak Prosperity because we very much want you to be on the right side of the Wealth Transfer.  Our goal is to educate, so that you can make informed decisions about how to best position yourself.  [Fun Fact: the root of ‘educate’ is the word ‘educe’ which means ‘to bring out.’  So for us, ‘educate’ does not mean to hand facts over for later recall, but rather it is a two-way process by which we can together bring out something that was hidden before and share that in common].

So, as we being to dig into the details here, take a moment to revisit our short Crash Course video chapters on money and money creation (at banks and The Fed). With that grounding, we can dive right into the role of money in an economy.

Remember, money and debt have no intrinsic value.  They only have value because we all agree that they do.  Money (and debt) has no intrinsic value beyond what we humans agree it has.  Money is a social agreement. 

A $20 bill has value because you and I agree that it does. Why we agree is because a $20 bill can do something for us. We can walk into a store and buy real things we need with it, therefore it has utility. If we couldn’t walk into a store and do anything with the money, then it would have no value at all.

For example, what do you think would happen if... » Read more

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It’s Bubble Time!

Wisdom & discipline will separate winners from victims
Thursday, February 23, 2017, 5:50 PM

It's impossible to predict with certainty how much more insane our financial markets will get before an inevitable correction, but my personal bet is “a lot!”

For my reasons why, take a few minutes to watch the chapter on bubbles below from The Crash Course. For those who haven't seen it before, the takeaway is this: bubbles pop only when greed in the market has been exhausted. » Read more

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Shaun Chamberlin: Surviving The Aftermath Of The Market Economy

What we'll need to persevere through collapse
Sunday, January 8, 2017, 1:23 PM

Historian and economist David Fleming undertook the writing of Lean Logic a grand vision that projected out the likely path of collapse for our currently unsustainable way of life, as well as the key success factors society will need to cultivate to come out the other side.

Following his death, his writing partner Shaun Chamberlin distilled the book's prime conclusions into the more accessible Surviving The Future: Culture, carnival, and capital in the aftermath of the market economy. Shaun, who has also been deeply involved with Rob Hopkins in the Transition Movement since its inception, stresses that localized communities that pursue developing as much independence from the central economy as possible will be the foundations for entering a sustainable, enjoyable future. » Read more

Insider

Estimating Bitcoin's Fair Value

Spoiler alert: It's much higher than its current price
Friday, January 6, 2017, 11:13 AM

Executive Summary

  • Why No Nation Truly Has Full Control Over Its Currency
  • Why Sovereign Efforts To Control Currencies Is Driving Capital Into Digital Currencies
  • The Driver's Of Digital Currency & Value
  • Calculating Bitcoin's Fair Value

If you have not yet read Part 1: Why The U.S. Dollar And Bitcoin Keep Rising available free to all readers, please click here to read it first.

In Part 1, we reviewed the dynamics of demand and utility that drive the valuation of any tradeable good, service, commodity and currency.  We established that it’s impossible to understand how a fiat currency such as the U.S. dollar can retain a value above its tangible value of zero unless we accept its utility value and its non-tangible sources of value, i.e. the wealth and wealth generation of the issuing nation and state.

We now turn to the second half of the question posed in Part 1: Why isn’t the market value of a digital currency such as bitcoin zero?

Or perhaps more interestingly: How high might the price of bitcoin go?

To answer this question, we must investigate another question: Can any state control the value of its currency and its place in the global economy? I suggest the answer is no. Beneath a surface veneer of status quo continuity, nations and states are losing the ability to control their role in the global economy and thus the utility of their currency.

To understand why, we turn to socio-historian Immanuel Wallerstein.

Who Controls a Rapidly Changing World-System?

Wallerstein is recognized for advancing the concept of world-system, his term for what I call a global Mode of Production, i.e., the political, social, financial and economic system that governs the relations of power, labor, capital, trade and resources (broadly speaking, our understanding of Nature and the extraction of its resources).  In a recent essay China is Confident: How Realistic?, he observed that "countries (have lost the ability) to control what happens to them in the ongoing life of the modern world-system."

These two paragraphs get to the essence of his analysis... » Read more

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Why The U.S. Dollar And Bitcoin Keep Rising

Understanding utility-driven demand
Friday, January 6, 2017, 11:12 AM

Capital migrates to where it flows with the least resistance, i.e. to forms of capital that are liquid and offer low transaction costs—what I call ease of flow. Capital also migrates to relatively safe havens that are liquid and offer low transaction/holding costs, and to forms of capital with global utility. And it also flows to the highest yield/return with the lowest perceived risk.

Given these fundamentals, it isn’t difficult to understand why capital is flowing into USD-denominated assets and bitcoin.

So what do the fundamentals suggest about the valuation uptrends in the USD and bitcoin? Have they topped out and due for a crash, or have they just started their appreciation cycle? » Read more

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Off The Cuff: The Global Flow Of Money

It's determining the price of everything right now
Thursday, January 5, 2017, 6:42 PM

In this week's Off The Cuff podcast, Chris and Charles Hugh Smith discuss:

  • Cultural Capital
    • How will those around you react during a crisis?
  • The Fragility Within Our Centralized System
    • Lots of dependencies that can fail & bring the entire system to a halt
  • Musical Chairs
    • Who will have to eat the bad debts when the can can no longer be kicked?
  • The Importance Of Global Capital Flows
    • They're determining the price of everything

As 2017 kicks off, Chris sits down with Charles to discuss some of the big themes likely to drive events in this new year. The two focus on the growing instability of our centralized systems -- economic, energy and otherwise -- and pay particular attention to the impact that the huge pool of money sloshing around the world is having on prices everywhere. Right now, that flood of capital -- out of bonds and into stocks, the dollar, etc -- is the primary driver of prices. Of course, this should make us ask: what will happen when those flows change direction? Or instead of continuing to grow, start receding?

Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio and other premium content today. » Read more