Category Archives: Education

Asset-based vs. Debt-based Economics

One Difference Between Asset-based Money (Gold) and Debt-based Currency (paper dollars):  Savings [courtesy Google Images]

One Difference Between Asset-based Money (Gold) and Debt-based Currency (paper dollars): SAVINGS
[courtesy Google Images]

It should come as no surprise to anyone who reads this blog to learn that I’m not an economist.  Without formal training in economics, I sometimes make statements about the subject that may seem pretty dumb.  But, my lack of formal training in economics can sometimes be an advantage.  Insofar as I’m not formally trained in what to think in the realm of economics, I also sometimes stumble onto what may be insight since I’m inclined to “think outside the box”.  Why do I think “outside the box”?  Because, without formal education on the subject of economics, I haven’t been formally “conditioned” to know where the “box” is.

What follows may be old news to most economists, but I doubt that most ordinary people have considered the subject.  It might be another example of my ignorance—or maybe it illustrates a little common sense. 

I haven’t yet made up my mind.


It’s my understanding that most of classical economic theory is based on a time when the world relied on gold and silver to serve as its asset-based money.

It therefore strikes me as possible that modern economic theory could be opposite from classical economics in some regards.  Why?  Because he fundamental unit of measure of today’s economics is a debt-based currency system.

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Posted by on February 22, 2015 in Debt, Economy, Education, Fiat Currency, Gold & Silver Coin


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Sub-prime Student Loans

Student Loan Protestors [courtesy Google Images]

Student Loan Protestors
[courtesy Google Images]

Bloomberg’s recent article (“Buy a House or Pay Off College? $1.2 Trillion Student Debt Takes the Stage in Capital”) opened by describing the plight of Jennifer Day—a college graduate who “spends 12% [$374/month] of her take-home pay on debt that funded a master’s degree in urban and regional planning, money she’d rather be saving toward a home.”

But, not to worry, since, “Under legislation sponsored by U.S. Senator Elizabeth Warren of Massachusetts, Miss Day would save about $75 a month on her payments.”

Gee, that’s great! $75 a month! $2.50 a day! $900 a year! Surely, that extra $900 will be more than enough to help those crazy kids buy their first homes!

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Intro to Austrian Economics

Worth your time. Excellent insights into the nature of economics and why a free market is vastly superior to a manipulated or controlled market

video 00:47:18


Posted by on July 23, 2013 in Economy, Education, Video


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No Hickory Stick Leads to Gangs?

StateLibQld 1 113036 Cartoon of students recei...

Cartoon of students receiving the cane, 1888 (Photo credit: Wikipedia)

I’m sure that gangs are a natural part of life for any minority or group of immigrants.  I have little doubt that gangs (like the poor) will always be with us.  Therefore, I’m not going to argue that I or anyone else can dream up an idea that can eliminate gangs.

But it still might be possible to make an occasional insight that would reduce the incidence of gangs.  Instead of having 100 gangs, with a little common sense, maybe we could reduce the number to 20 or even 10.

•   I’ve been watching two videos on gangs.  One describes the Hispanic “MS13” gang.  The other tells the history of the Negro “Bloods” and “Crips” gangs.  All three gangs fight other gangs (including the cops) for territory and then extort “protection money” from the businesses in their territory.  If businesses don’t pay for “protection,” their owners can lose their property or their lives.

Extortion by gangs seems cruel and unjustifiable.  But, when you stop to think about it, there’s not much difference between the protection money extorted by the the gangs from the taxes imposed by the government.  If you don’t pay your taxes to the government “protector” (they’re here to help us, y’ know), you can also lose your property and at least your liberty.

Apparently, that’s the primary difference between gangs and government.  If you don’t pay the gangs, they’ll kill you.  If you don’t pay the government, they won’t killl you, but they might take a few years of your life.  Government is simply a “kinder, gentler” gang–but it’s still just a gang.

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Posted by on July 17, 2012 in Education, Government as Gangsters, Video


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Pavlovian Economics

One of the many dogs Pavlov used in his experi...

One of the many dogs Pavlov used in his experiments (possibly Baikal, Pavlov Museum Ryazan, Russia. Note the saliva catch container and tube surgically implanted in the dog’s muzzle. . (Photo credit: Wikipedia)

Today, I argue that gov-co’s control over economic indicators constitutes evidence of Pavlovian conditioning of the America people.

Let’s begin the argument with Wikipedia’s definition of “Pavlovian conditioning”:


 “Classical conditioning (also Pavlovian conditioning or respondent conditioning) is a form of learning in which one stimulus comes to signal the occurrence of a second stimulus. This is often brought about by pairing the two stimuli, as in Pavlov’s classic experiments.  Pavlov presented dogs with a ringing bell followed by food.  The food elicited salivation, and after repeated bell-food pairings, the bell also caused the dogs to salivate.  In this experiment the food is an unconditioned stimulus, salivation is an unconditioned response, the bell is neutral but then becomesconditioned stimulus, the salivation elicited by the bell is a conditioned response.”

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Posted by on May 14, 2012 in Education, Fraud, US Dollar, Values


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Sign of the Times

Here’s a tribute to American public school education and evidence of just how much trouble this country is really in.

This is scary.  We have enough consumers in the country who can read, but can’t count up to 15, that at least one Walmart posted the following sign:

How can people who can’t count up to 15 hold jobs and support themselves?  How long can people who can’t count to 15 remain as as “consumers”?  What happens when people who can’t count to fifteen are no longer able to pay for their “consumption”?

On the bright side, the sign features three hands, rather than two hands and one foot.  Apparently, the Americans who can’t count to fifteen still have sufficient conceptual capacity to envision an imaginary third hand, rather than take off their shoes and socks to continue counting past 10.

(Good thing the express lane limit isn’t 21, hmm?)


Posted by on January 11, 2012 in Economy, Education


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Valedictorian Speaks Out Against Schooling

Pre-School Graduation!!!

Image via Wikipedia

I wonder if this high school graduate really understands what she’s saying.  You can almost hear her giggling as she makes her speech.  But her truth is almost painful to hear.  If she doesn’t yet really understand the truth she’s saying–she will.

In the meantime, I’m proud of this valedictorian and her parents.




Posted by on July 7, 2011 in Education, Values, Video


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