Entries Tagged as ‘Money’

September 23, 2009

An Economy of Addiction

When it comes to addictive drugs, most people would be surprised to learn that nicotine (common tobacco) is more quickly addictive than heroin, morphine or crack.  But there’s another drug that even more addictive than nicotine:  free money.
Oooo, we love that free money, don’t we?  More than heroin, coke, crack, tobacco, alcohol, or even ice [...]

September 11, 2009

What is “Capital”?

Most people assume that “capital” is more or less synonymous with “money”. That assumption is false.
Michael Moore (the controversial producer-director of the movies Fahrenheit 911 and Sicko) recently achieved a little more notoriety by claiming that “capitalism” is inherently “evil”. About the same time an email was banging around the internet concerning Bill Clinton’s 1997 [...]

July 26, 2009

The Undefined Dollar, Part II

Take a paper $50 bill in your left hand and a one-ounce “Gold Eagle” in your right hand.  Both are defined in law as legal tender.  Both are defined as being worth $50 dollars.  But it currently takes about twenty of the paper “FIFTY DOLLAR” bills to purchase one “50 DOLLAR” gold coin.
So, again, [...]

July 13, 2009

The Undefined Dollar

If you pick up a paper $50 bill in your left hand, you’ll see a picture of President Grant in the center and text along the bottom of the bill that reads, “FIFTY DOLLARS”.  If you also pick up a recently-minted one-ounce “Gold Eagle” in your right hand, you’ll see an inscription on the coin [...]

May 5, 2009

Owing It To Ourselves?

An A.D. 2006 article entitled “The Lost Decade—Per Capita Net Worth and Living Standards,” declared in part that “as citizens of the U.S. we own the national debt.”
Technically, that’s correct.  Whee duh pee-pul do “own” the National Debt.  But 40 years ago, when gov-co was first going hugely into debt, it was borrowing from the [...]

April 19, 2009

Free Market vs. Slave Market

Suppose someone started the “SS Titanic Investment Corporation”. Suppose you could get in now at the ground floor (or perhaps I should say at the “ocean floor”) by investing $10,000 for a 1% interest in the S.S. Titanic. True, that ship is currently “wet docked” at the bottom of the North Atlantic. But—technologically speaking—it may [...]

April 19, 2009

Legal Tender Treason

Article 3 Section 3 Clause 1 of The Constitution of the United States declares in part,
“Treason against the United States, shall consist only in levying War against them, or in adhering to their Enemies, giving them Aid and Comfort.”

Surprisingly, to understand the meaning of “treason” we must first understand the meaning of the [...]