Big Head Press

L. Neil Smith's
Number 660, March 4, 2012

The government has spent the last twenty
years setting everything in place so it
can denounce any member of the Productive
Class as a "terrorist" and act acordingly.

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Letter from Richard Colwell

Letter from A.X. Perez with comment from L. Neil Smith

Crashing dollar

The real truth? Gasoline is not rising in price. It is the U.S. dollar that is crashing in value. As well, some portion of the untold facts regarding the establishment's vilification of Iran (don't get me wrong, their leadership IS comprised of bad actors) is Iran's move to transition away from using the U.S. Dollar as the standard currency for Oil transactions, since oil is just about the only physical commodity (that immediately comes to mind) that unofficially "backs" the U.S. Dollar. This is an existential threat to the U.S. Dollar's world reserve status, and the powers-that-be cannot allow that to happen since they can only "legally" counterfeit the U.S. Dollar by way of the Federal Reserve.

Richard Colwell

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Then why not:

Recently I saw a posting on Face Book questioning the common wisdom that WWII ended the Depression. Did not get to read whole posting, but it made me think. If my comments match the posting in question I apologize to the original poster and author.

Consider the following. World War Two took eleven million men out of the the work force. It created shortages so bad that it would take two years after the war ended for supply of everything from stockings to housing to catch up with demand. Millions of tons of ships. tanks, airplane and other manufactured goods were destroyed. It killed 600,000 Americans (about 300,000 troops and sailors, and another 300,000or so civilians killed in factory accidents supporting the war effort.)

Le Roy Ladurie wrote in The Peasants of Langedoc that the depopulation caused by the Bubonic Plague created economic opportunity for the survivors. We remember the Black Death as a disaster, not a government make work program. World War Two was the same.

A.X. Perez

To which L. Neil Smith replied:

World War II was a blessing only in that it eventually produced me.

Otherwise, it was the beginning of the longest period inflation in American history—to monetize the debt and whisk it away—and that is what has gotten us here.

In that sense, killing John Maynard Keynes would have done the country more good than killing Hitler.

L. Neil Smith

Was that worth reading?
Then why not:
Pay A.X. Perez
Was that worth reading?
Then why not:
Pay L. Neil Smith

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