At the Federal Level, it does not matter what country you look at, post-WWII, they borrow year after year with NO INTENTION of paying anything back. Overall, about 70% of the outstanding national debts is simply interest payments. Here is a classic example of the crisis at the local level. Debt has been used as […]

QUESTION: The economist Robert Wiedemer, author of the New York Times best-selling book Aftershock, has forecasted that unemployment will rise to 50%, the stock market will crash by 90%, and the annual inflation will hit 100% starting in 2013. What is your view on this scenario? ANSWER: Gibberish. Pure insanity. This is the same thing as […]

Germany is obsessed with hyperinflation just as the US is obsessed with reliving the Great Depression. Neither one even understands their own history. This interesting aspect is that despite all the press at the time, FDR did not follow the austerity advice of his Brains Trust who were lawyers. It was George Warren who saved […]

Germany’s constitutional court has begun its hearing over the legality of the European Central Bank’s bond buying program today. The German high court is not the political football we have for a judiciary in the USA. They are rather independent. The head of the court said the success of the program wouldn’t be relevant for “Otherwise, the […]

QUESTION: Hello Mr. Armstrong, Thank you for taking the time to address the questions that I and many others who follow your work have asked. In your most recent answer to a readers question, you state, “Therefore, it was the complete lack of CONFIDENCE in the government that (1) caused the hoarding, and…..”  From what I have read […]

The IMF and German policies as well as those of Obama are absolutely brain dead. These arrogant people are LAWYERS who are clueless when it comes to economics. The IMF had acknowledged on Wednesday that it underestimated the damage done to Greece’s economy from spending cuts and tax hikes imposed in a bailout. These people do […]

QUESTION: I don’t understand the page 11 comments about German Hyperinflation and that it took place because capital was being hoarded and there was no lending????? Can you clarify how price hyperinflation occurs if no one is spending or lending. RESPONSE:  Because people were hoarding real money so there was none to be deposited in banks […]

  The Code of  Hammurabi 1795-1750 BC Claude Hermann Walter Johns: BABYLONIAN LAW–The Code of Hammurabi. from the Eleventh Edition of the Encyclopedia Britannica, 1910-1911 The material for the study of Babylonian law is singularly extensive without being exhaustive. The so-called “contracts,” including a great variety of deeds, conveyances, bonds, receipts, accounts and, most important of […]

The primary reason why I have been touting that we no longer need taxation at the federal level is because money is no longer tangible. The evolution of money migrating to simply electronic actually allows the restoration of freedom. Taxes were once needed when money was tangible because it could not be created. The diehard Goldbugs […]

  Alan Simpson, Wyoming Republican Senator who became co-chair of President Obama’s deficit commission, called senior citizens the “Greediest Generation” as he compared Social Security to a Milk Cow with 310 million teats. This career politician’s comments illustrates the entire problem why we do not have a democracy. These people rig the game to get elected, […]